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Acquisition (Notes) | 6 Months Ended
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Jul. 31, 2016
Business Acquisition [Line Items] |
Schedule of Business Acquisitions, by Acquisition [Table Text Block] | Acquisition. MFRI entered into a purchase agreement with its joint venture partner Aegion Corporation to acquire the remaining 51% ownership of Bayou Perma-Pipe Canada, Ltd. ("BPPC"), a coating and insulation company in Camrose, Alberta, which acquisition closed on February 4, 2016. MFRI had owned a 49% interest in BPPC since 2009, when the joint venture was formed with Aegion to serve the oil and gas industry in Western Canada. The purchase price was $13.1 million CAD ($9.6 million USD) in cash and debt at closing and is subject to certain post-closing adjustments. The initial accounting for this acquisition is not complete pending detailed analyses of the facts and circumstances that existed as of the acquisition date. The following table represents the preliminary allocation of the total consideration in the acquisition of BPPC:
Total purchase consideration: |  |
Cash |  |  | $7,587 |
Loan payable |  | 2,000 |
Purchase consideration to third party |  | 9,587 |
Fair Value of 49% Previously Held Equity Interest |  | 7,492 |
Total purchase consideration |  |  | $17,079 |
Fair value of net assets acquired: |  |
Cash and cash equivalents |  |  | $2,915 |
Property and equipment |  | 12,670 |
Goodwill |  | 2,657 |
Net working capital |  | 406 |
Other assets (liabilities) net |  | (1,569 | )
Net assets acquired |  |  | $17,079 |
The acquisition has preliminarily resulted in approximately $2.7 million of goodwill. The Company incurred legal, professional and other costs related to this acquisition. These one-time costs of $0.2 million were recognized as general and administrative expenses. In the first quarter, the Company recognized a non-cash loss of $1.6 million, which represents the difference between the pre-existing book value interest in BPPC immediately prior to the acquisition remeasured to its fair value upon the acquisition date. Pro Forma results - The following table summarizes, on a pro forma basis, the combined results of operations of the Company and the acquired business as though the acquisition had occurred as of February 1, 2015. The pro forma amounts presented are not necessarily indicative of either the actual consolidated results had the acquisition occurred as of February 1, 2015 or of future consolidated operating results.
| Three Months Ended July 31, | Six Months Ended July 31,
| 2016 |  | 2015 |  | 2016 |  | 2015 |
Revenue |  | $22,859 |  |  | $26,935 |  |  | $45,928 |  |  | $56,271 |
Net income (loss) | 449 |  | (2,448 | ) | (5,845 | ) | (6,916 | )
Earnings (loss) per share basic and diluted |  | $0.06 |  |  | ($0.34 | ) |  | ($0.79 | ) |  | ($0.95 | )
Pro forma results presented above primarily reflect revenues that were down due to the effect of oil prices on customer demand in the U.S. and Canada and on certain market conditions in the Middle East.

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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1486-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1392-128463 + Details
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