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Note 2 - Business Segment Reporting
 3 Months Ended
Apr. 30, 2025
Notes to Financial Statements  
Segment Reporting Disclosure [Text Block]

Note 2 - Business segment reporting

 

The Company operates under one segment: Piping Systems. The results are presented on a consolidated basis to the Chief Executive Officer who serves as the chief operating decision maker ("CODM"). The CODM regularly reviews consolidated revenues, significant expenses, and consolidated net income attributable to common stock to make operating decisions and assess performance. The CODM uses this information in making company-wide decisions when determining how to allocate resources.

 

Significant expenses represent amounts that are regularly provided to the CODM and included in consolidated net income attributable to common stock.

 

The following table summarizes the Company's revenues, net income attributable to common stock, and significant expenses:

 

  

Three Months Ended April 30,

 
  

2025

  

2024

 

Net sales

 $46,747  $34,321 
         

Cost of sales

        

Labor

  6,289   5,238 

Materials

  17,416   13,183 

Depreciation and amortization

  849   733 

Other costs of sales

  5,469   4,650 

Total cost of sales

  30,023   23,804 
         

Operating expenses

        

Salaries and wages

  4,217   3,373 

Depreciation and amortization

  87   82 

Other general and administrative expense

  3,445   2,693 

General and administrative expenses

  7,749   6,148 

Selling expense

  1,086   1,235 

Total operating expenses

  8,835   7,383 
         

Income from operations

  7,889   3,134 
         

Interest expense

  406   507 

Other expense

  47   67 

Income before income tax

  7,436   2,560 

Income tax expense

  1,582   770 

Net income

  5,854   1,790 

Less: Net income attributable to non-controlling interest

  902   347 

Net income attributable to common stock

 $4,952  $1,443 

 

The CODM regularly reviews asset information by our reporting segment in a manner that is consistent with the presentation on the Company's accompanying consolidated balance sheets.