Accounts and Contracts Receivables

12 Months Ended

Jan. 31, 2016

6. Accounts and Contracts Receivables

Accounts and contracts receivables consisted of the following (in thousands):


	As of January 31,
	2016			2015
Accounts receivable	$	27,691		$	30,032
Contracts receivable		2,877			3,639

		30,568			33,671
Less long-term portion		(4,972	)		—

Current accounts and contracts receivable		25,596			33,671
Less allowance for doubtful accounts		(5,821	)		(6,339	)

Current portion of accounts and contracts receivable, net of allowance for doubtful accounts	$	19,775		$	27,332

Contracts receivable consisted of $2.9 million and $3.6 million, due from three customers as of January 31, 2016 and 2015, respectively. The balance of contracts receivable at January 31, 2016 and 2015 consisted of contracts bearing interest at an average rate of approximately 4.1% and 1.9% respectively and with remaining repayment terms from one to 17 months and one to ten months, respectively. These contracts are collateralized by the equipment sold. As of January 31, 2016, the Company has entered into structured payment arrangements with four customers, which extend the payment of their accounts and contracts receivable balances resulting in long-term accounts receivable with two customers totaling $3.7 million and long-term contracts receivable with two customers totaling $1.3 million. Payments terms for long-term receivables are structured to be completed by the end of fiscal 2018.