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Note 2 - Business Segment Reporting | 6 Months Ended
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Jul. 31, 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 July 31, |  |  | Six Months Ended July 31, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Net sales |  | $ | 47,902 |  |  | $ | 37,513 |  |  | $ | 94,648 |  |  | $ | 71,834 |
Cost of sales |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Labor |  |  | 6,904 |  |  |  | 5,312 |  |  |  | 13,193 |  |  |  | 10,550 |
Materials |  |  | 18,947 |  |  |  | 12,719 |  |  |  | 36,363 |  |  |  | 25,902 |
Depreciation and amortization |  |  | 860 |  |  |  | 738 |  |  |  | 1,710 |  |  |  | 1,472 |
Other costs of sales |  |  | 6,768 |  |  |  | 5,270 |  |  |  | 12,235 |  |  |  | 9,919 |
Total cost of sales |  |  | 33,479 |  |  |  | 24,039 |  |  |  | 63,501 |  |  |  | 47,843 |
Operating expenses |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries and wages |  |  | 6,928 |  |  |  | 4,284 |  |  |  | 11,145 |  |  |  | 7,658 |
Depreciation and amortization |  |  | 95 |  |  |  | 142 |  |  |  | 184 |  |  |  | 245 |
Other general and administrative expense |  |  | 3,010 |  |  |  | 1,553 |  |  |  | 6,452 |  |  |  | 4,225 |
General and administrative expenses |  |  | 10,033 |  |  |  | 5,979 |  |  |  | 17,781 |  |  |  | 12,128 |
Selling expense |  |  | 1,203 |  |  |  | 1,353 |  |  |  | 2,289 |  |  |  | 2,588 |
Total operating expenses |  |  | 11,236 |  |  |  | 7,332 |  |  |  | 20,070 |  |  |  | 14,716 |
Income from operations |  |  | 3,187 |  |  |  | 6,142 |  |  |  | 11,077 |  |  |  | 9,275 |
Interest expense |  |  | 415 |  |  |  | 514 |  |  |  | 821 |  |  |  | 1,021 |
Other expense |  |  | 21 |  |  |  | 38 |  |  |  | 70 |  |  |  | 105 |
Income before income tax |  |  | 2,751 |  |  |  | 5,590 |  |  |  | 10,186 |  |  |  | 8,149 |
Income tax expense |  |  | 1,489 |  |  |  | 1,306 |  |  |  | 3,070 |  |  |  | 2,076 |
Net income |  |  | 1,262 |  |  |  | 4,284 |  |  |  | 7,116 |  |  |  | 6,073 |
Less: Net income attributable to non-controlling interest |  |  | 411 |  |  |  | 995 |  |  |  | 1,313 |  |  |  | 1,341 |
Net income attributable to common stock |  | $ | 851 |  |  | $ | 3,289 |  |  | $ | 5,803 |  |  | $ | 4,732 |
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.

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- Definition The entire disclosure for reporting segments including data and tables. 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