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Debt | 3 Months Ended
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Apr. 30, 2016
Debt [Abstract] |
Debt Disclosure [Text Block] | Debt. Debt totaled $15.3 million at April 30, 2016, a net decrease of $0.2 million since January 31, 2016. Revolving lines domestic. On September 24, 2014, the Company entered into a Credit and Security Agreement with a financial institution as amended, ("Credit Agreement"). Under the terms of the Credit Agreement, which matures on September 24, 2019, the Company can borrow up to $15.0 million, subject to borrowing base availability from secured domestic assets and other requirements, under a revolving line of credit. The Loan Agreement covenants restrict debt, liens, and investments, and require attainment of specific levels of profitability and cash flows. At April 30, 2016, the Company was in compliance with loan covenants. The domestic revolving line balance as of January 31, 2016 and April 30, 2016 was included as a current liability on the consolidated balance sheets. Interest rates vary based on the average availability in the preceding fiscal quarter and are: (a) a margin in effect plus a base rate, if below certain availability limits; or (b) a margin in effect plus the Eurodollar rate for the corresponding interest period. As of April 30, 2016, the Company had borrowed $7.2 million at 3.5% and 2.19% and had $5.6 million available to it under the revolving line of credit. In addition, $0.3 million of availability was used under the Credit Agreement primarily to support letters of credit to guarantee amounts committed for inventory purchases. Cash required for operations, as needed, is provided by draw downs on the line of credit. Revolving lines foreign. The Company also has credit arrangements used by its Middle Eastern subsidiaries. These credit arrangements are in the form of overdraft facilities and project financing at rates competitive in the countries in which the Company operates. The lines are secured by certain equipment, certain assets, such as accounts receivable and inventory, and a guarantee by the Company. Some credit arrangement covenants require a minimum tangible net worth to be maintained. At April 30, 2016, the Company was in compliance with the covenants under the credit arrangements. At April 30, 2016, interest rates were 4.0% per annum below National Bank of Fujairah Base Rate, minimum 3.5% per annum, and Emirates Inter Bank Offered Rate (EIBOR) plus 3.5% per annum. At April 30, 2016, the Company's interest rates range from 3.5% to 6.0%. At April 30, 2016, the Company had available borrowing capacity of $43.8 million under these credit arrangements. In addition, $7.4 million of availability was used to support letters of credit to guarantee amounts committed for inventory purchases. At April 30, 2016, borrowings under these credit arrangements totaled $1.7 million; an additional $34.7 million remained unused. The foreign revolving lines balance as of January 31, 2016 and April 30, 2016 were included as a current liability on the consolidated balance sheets. On February 1, 2016, the Company entered into a promissory note with United Pipeline Systems Limited, an affiliate of Aegion, Inc. for $2.0 million. The promissory note b ears interest at prime, which was 3.25% at April 30, 2016, plus 5% and matures on August 1, 2016.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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