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Segment Reporting
 6 Months Ended
Jul. 31, 2013
Segment Reporting [Abstract]  
Segment Reporting

11. Segment Reporting

The Equipment Leasing segment offers new and “experienced” seismic equipment for lease or sale to the oil and gas industry, seismic contractors, environmental agencies, government agencies and universities. The Equipment Leasing segment is headquartered in Huntsville, Texas, with sales and services offices in Calgary, Canada; Brisbane, Australia; Ufa, Bashkortostan, Russia; Budapest, Hungary; Singapore; Bogota, Colombia; and Lima, Peru.

The Seamap segment is engaged in the design, manufacture and sale of state-of-the-art seismic and offshore telemetry systems. Manufacturing, support and sales facilities are maintained in the United Kingdom and Singapore.

Financial information by business segment is set forth below (net of any allocations):

 

                 
    As of July 31, 2013     As of January 31, 2013  
    Total Assets     Total Assets  
    (in thousands)  

Equipment Leasing

   $ 165,373     $ 171,971  

Seamap

     18,387       18,578  

Eliminations

     (39 )      (142 ) 
   

 

 

    

 

 

  

Consolidated

   $ 183,721     $ 190,407  
   

 

 

    

 

 

  

Results for the three months ended July 31, 2013 and 2012 were as follows (in thousands):

 

                                                 
    Revenues     Operating (loss) income     (Loss) income before taxes  
    2013     2012     2013     2012     2013     2012  

Equipment Leasing

   $ 13,937     $ 15,818     $ (3,428 )    $ (1,313 )    $ (2,504 )    $ (1,634 ) 

Seamap

     7,042       7,454       1,260       2,617       1,496       2,871  

Eliminations

     (84 )      (192 )      42       37       42       37  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Consolidated

   $ 20,895     $ 23,080     $ (2,126 )    $ 1,341     $ (966 )    $ 1,274  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  
 

Results for the six months ended July 31, 2013 and 2012 were as follows (in thousands):

  
       
    Revenues     Operating income     Income before taxes  
    2013     2012     2013     2012     2013     2012  

Equipment Leasing

   $ 37,301     $ 39,905     $ 4,730     $ 5,714     $ 5,331     $ 5,092  

Seamap

     10,976       18,295       1,234       7,178       1,529       7,130  

Eliminations

     (91 )      (489 )      93       115       93       115  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Consolidated

   $ 48,186     $ 57,711     $ 6,057     $ 13,007     $ 6,953     $ 12,337  
   

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Sales from the Seamap segment to the Equipment Leasing segment are eliminated in the consolidated revenues. Consolidated income before taxes reflects the elimination of profit from intercompany sales and depreciation expense on the difference between the sales price and the cost to manufacture the equipment. Fixed assets are reduced by the difference between the sales price and the cost to manufacture the equipment, less the accumulated depreciation related to the difference.