Note

- Business information

Perma-Pipe International Holdings, Inc.

("PPIH", the "Company", or the "Registrant") was incorporated in Delaware on

October

12,

1993.

The Company is engaged in the manufacture and sale of products in

one

distinct segment: Piping.

Fiscal year.

The Company's fiscal year ends on

January 31.

Years and balances described as

2018

and

2017

are the fiscal years ended

January

31,

2019

and

2018,

respectively.

Nature of business.

The Company engineers, designs, manufactures and sells specialty piping systems, and leak detection systems. Specialty piping systems include: (i) insulated and jacketed district heating and cooling ("DHC") piping systems for efficient energy distribution from central energy plants to multiple locations, (ii) primary and secondary containment piping systems for transporting chemicals, hazardous fluids and petroleum products, and (iii) the coating and/or insulation of oil and gas gathering and transmission pipelines. The Company's leak detection systems are sold with its piping systems or on a stand-alone basis, to monitor areas where fluid intrusion

may

contaminate the environment, endanger personal safety, cause a fire hazard, impair essential services or damage equipment or property.

Geographic information.

Net sales attributed to a geographic area are based on the destination of the product shipment. Sales to foreign customers was

61.0%

2018

compared to

59.5%

2017.

Long-lived assets are based on the physical location of the assets and consist of property, plant and equipment used in the generation of revenues in the geographic area.

(In thousands)	2018		2017
Net sales
United States	$	50,319	$	42,648
Canada		34,789		31,206
Middle East		35,117		26,322
India		3,755		1,317
Other		4,985		3,755
Total net sales	$	128,965	$	105,248

Property, plant and equipment, net of accumulated depreciation
United States	$	10,279	$	11,307
Canada		11,862		13,868
Middle East		8,103		9,119
India		154		215
Total	$	30,398	$	34,509