XML 36 R23.htm IDEA: XBRL DOCUMENT v3.25.2
Segment Reporting
 6 Months Ended
Jul. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting
1
3
.
Segment Reporting
Domestic and international sales are as follows in millions of dollars: 
 
(in millions)
    Three Months Ended
July 31,		      Six Months Ended
July 31,		  
     2025      2024      2025      2024  
Domestic
    $ 22.1      $ 12.4      $ 42.8      $ 26.6  
International
      30.4        26.1        56.4        48.2  
  
 
 
     
 
 
     
 
 
     
 
 
  
Total Sales
    $ 52.5      $ 38.5      $ 99.2      $ 74.8  
  
 
 
     
 
 
     
 
 
     
 
 
  
The Company is organized into seven geographical operating segments that are based on management responsibilities: U.S. Operations (including the Corporate office), Europe, Mexico, Asia, Canada, Latin America and Other Foreign.
The Company adopted ASU
No. 2023-07
(“ASU
2023-07”),
 Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
 for the year ended January 31, 2025 and applied it retrospectively for the prior periods presented.
Gross profit and Operating income (loss) are the measures used by the chief operating decision maker, identified as our President and Chief Executive Officer, to evaluate segment performance and identify opportunities when allocating resources. The accounting principles applied at the reportable segment level in determining the segment measure of profit or loss are the same as those applied at the consolidated financial statement level. Sales and transfers between operating segments are accounted for at market-based transaction prices and are eliminated in consolidation.
Our U.S. operations include a facility in Alabama (primarily the distribution to customers of the bulk of our products and the light manufacturing of our chemical, wovens, reflective, and fire products) and facilities in Iowa and Arkansas (fire services). The Company also maintains one manufacturing facility in China (primarily disposable and chemical suit production), a manufacturing facility in Mexico (primarily disposable, reflective, fire and chemical suit production), a manufacturing facility in Vietnam (primarily disposable production), a manufacturing facility in Argentina (primarily wovens production), a manufacturing facility in Romania (boots), a manufacturing facility in New Zealand (helmets) and two small manufacturing facilities in India (primarily disposable and wovens production). Our China and Vietnam facilities produce a significant portion of the Company’s products. We evaluate the performance of these entities based on gross profit, which is defined as net sales less cost of goods sold, and operating income (loss), which is defined as income before income taxes, interest expense and other income and expenses. We have sales forces in the U.S., Canada, Mexico, Europe, Latin America, India, Russia, Kazakhstan, Australia, New Zealand and China, which sell and distribute products shipped from the U.S., Mexico, China, Vietnam or India.
 
The table below represents information about reportable segments for the three and six month periods noted therein (amounts may not foot due to rounding):
 
(in millions of dollars)
    Three Months Ended
July 31,		      Six Months Ended
July 31,		  
     2025      2024      2025      2024  
Net Sales:
            
U.S. Operations
    $ 24.5      $ 14.2      $ 47.0      $ 30.1  
Other foreign
      5.2        4.9        9.9        9.4  
Europe
      15.7        7.3        27.8        13.4  
Mexico
      2.0        2.5        3.8        4.1  
Asia
      14.3        13.5        26.3        23.9  
Canada
      2.9        2.5        5.3        5.5  
Latin America
      4.6        7.4        8.9        12.2  
Less intersegment sales
      (16.7 )       (13.8 )       (29.8 )       (23.8 ) 
  
 
 
     
 
 
     
 
 
     
 
 
  
Consolidated sales
    $ 52.5      $ 38.5      $ 99.2      $ 74.8  
  
 
 
     
 
 
     
 
 
     
 
 
  
External Sales:
            
U.S. Operations
    $ 22.1      $ 12.4      $ 42.8      $ 26.6  
Other foreign
      3.3        3.9        6.3        7.8  
Europe
      15.1        7.1        26.9        13.1  
Mexico
      1.1        1.7        2.3        2.8  
Asia
      3.7        3.5        7.3        6.8  
Canada
      2.9        2.5        5.2        5.5  
Latin America
      4.3        7.4        8.4        12.2  
  
 
 
     
 
 
     
 
 
     
 
 
  
Consolidated external sales
    $ 52.5      $ 38.5      $ 99.2      $ 74.8  
  
 
 
     
 
 
     
 
 
     
 
 
  
Intersegment Sales:
            
U.S. Operations
    $ 2.3      $ 1.8      $ 4.1      $ 3.5  
Other foreign
      1.9        1.0        3.6        1.6  
Europe
      0.6        0.2        0.9        0.3  
Mexico
      0.9        0.8        1.5        1.3  
Asia
      10.7        10.0        19.1        17.1  
Canada
      0.1        —         0.2        —   
Latin America
      0.2        —         0.4        —   
  
 
 
     
 
 
     
 
 
     
 
 
  
Consolidated intersegment sales
    $ 16.7      $ 13.8      $ 29.8      $ 23.8  
  
 
 
     
 
 
     
 
 
     
 
 
  
 
The table below represents information about reportable segments for the three and six month periods noted therein (amounts may not foot due to rounding):
 
(in millions of dollars)
    Three Months Ended
July 31,		      Six Months Ended
July 31,		  
     2025      2024      2025      2024  
Cost of Goods Sold:
            
U.S. Operations
    $ 15.5      $ 9.0      $ 30.8      $ 18.1  
Other foreign
      3.5        2.8        6.6        5.5  
Europe
      12.2        5.9        21.1        10.4  
Mexico
      2.1        2.1        3.9        3.6  
Asia
      11.4        10.2        21.0        18.4  
Canada
      2.0        1.4        3.9        3.1  
Latin America
      3.0        3.8        5.9        6.0  
Less intersegment cost of goods sold
      (16.0 )      (11.9 )       (28.4 )      (21.7 ) 
  
 
 
     
 
 
     
 
 
     
 
 
  
Consolidated cost of goods sold
    $ 33.7      $ 23.3      $ 64.8      $ 43.4  
  
 
 
     
 
 
     
 
 
     
 
 
  
Gross Profit:
            
U.S. Operations
    $ 9.0      $ 5.2      $ 16.2      $ 12.0  
Other foreign
      1.7        2.2        3.2        4.0  
Europe
      3.5        1.5        6.7        3.0  
Mexico
      (0.1 )      0.3        (0.1 )      0.4  
Asia
      2.9        3.3        5.4        5.5  
Canada
      0.9        1.1        1.4        2.4  
Latin America
      1.6        3.5        3.0        6.2  
Less intersegment loss
      (0.7 )      (1.9 )       (1.3 )      (2.1 ) 
Consolidated gross profit
    $ 18.8      $ 15.2      $ 34.5      $ 31.4  
  
 
 
     
 
 
     
 
 
     
 
 
  
Operating Expenses
(1)
:
            
U.S. Operations
    $ 14.3      $ 8.6      $ 25.0      $ 16.1  
Other foreign
      1.6        1.5        3.0        2.7  
Europe
      3.4        3.0        7.4        4.9  
Mexico
      0.6        0.1        1.3        0.6  
Asia
      1.4        1.2        2.9        2.4  
Canada
      0.5        1.4        1.2        2.5  
Latin America
      1.4        1.2        3.0        2.1  
Less intersegment operating expenses
      (0.4 )      (0.2 )       (0.7 )      (0.5 ) 
  
 
 
     
 
 
     
 
 
     
 
 
  
Consolidated operating expenses
    $ 22.9      $ 16.8      $ 43.1      $ 30.8  
  
 
 
     
 
 
     
 
 
     
 
 
  
Operating (Loss) Income:
            
U.S. Operations
    $ (5.3 )    $ (3.4 )     $ (8.9 )    $ (4.1 ) 
Other foreign
      0.1        0.7        0.3        1.3  
Europe
      0.1        (1.5 )       (0.7 )      (1.9 ) 
Mexico
      (0.7 )      0.2        (1.4 )      (0.2 ) 
Asia
      1.5        2.1        2.4        3.1  
Canada
      0.4        (0.3 )       0.2        (0.1 ) 
Latin America
      0.2        2.3        —         4.1  
Less intersegment loss (income)
      (0.3 )      (1.7 )       (0.6 )      (1.6 ) 
  
 
 
     
 
 
     
 
 
     
 
 
  
Operating (loss) income
    $ (4.0 )    $ (1.6 )     $ (8.7 )    $ 0.6  
  
 
 
     
 
 
     
 
 
     
 
 
  
 
(1)
 
Includes lease impairments
 
The table below represents information about reported segments for the three and six month periods noted therein (amounts may not foot due to rounding):
 
     As of July 31,      As of January 31,  
(in millions of dollars)
    2025      2025  
Total Assets:
      
U.S. Operations
    $ 180.2      $ 167.4  
Europe
      64.0        60.3  
Mexico
      10.8        13.7  
Asia
      50.9        48.0  
Canada
      6.8        6.4  
Latin America
      22.4        21.7  
Other foreign
      19.5        18.3  
Less intersegment
      (128.3 )      (123.3 ) 
  
 
 
     
 
 
  
Consolidated assets
    $ 226.3      $ 212.5  
  
 
 
     
 
 
  
Total Assets Less Intersegment:
      
U.S. Operations
    $ 95.6      $ 85.6  
Europe
      58.2        55.3  
Mexico
      8.0        11.2  
Asia
      23.8        21.3  
Canada
      4.7        4.6  
Latin America
      18.7        18.0  
Other foreign
      17.3        16.5  
  
 
 
     
 
 
  
Consolidated assets
    $ 226.3      $ 212.5  
  
 
 
     
 
 
  
Total Goodwill and Intangible Assets
      
U.S. Operations
    $ 16.9      $ 17.1  
Europe
      22.4        22.7  
Other foreign
      1.8        1.9  
  
 
 
     
 
 
  
Consolidated goodwill and intangible assets
    $ 41.1      $ 41.7  
  
 
 
     
 
 
  
The table below presents external sales by product line:
 
(in millions of dollars)    Three Months Ended
July 31,		      Six Months Ended
July 31,		  
     2025      2024      2025      2024  
External Sales by product lines:
            
Disposables
    $ 13.9      $ 12.3      $ 27.0      $ 25.4  
Chemical
      5.6        5.3        11.7        11.6  
Fire Service
      25.6        12.0        46.6        22.5  
Gloves
      0.4        0.5        0.7        1.1  
High Visibility
      1.5        1.2        2.5        2.4  
High Performance Wear
      2.2        1.4        3.8        2.6  
Wovens
      3.3        5.8        6.9        9.2  
  
 
 
     
 
 
     
 
 
     
 
 
  
Consolidated external sales
    $ 52.5      $ 38.5      $ 99.2      $ 74.8