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Segment Reporting
 12 Months Ended
Jan. 31, 2016
Segment Reporting [Abstract]  
Segment Reporting

14. Segment Reporting

As of January 31, 2016, in connection with the acquisition of Klein, the company has restructured the composition of its segments to combine the previous Seamap segment, with the newly acquired Klein, and equipment sales operations of SAP into the Equipment Manufacturing and Sales segment. In accordance with ASC 280-10-50, the Company has restated prior year’s financial information to reflect the change in reporting segments.

The Equipment Leasing segment offers for lease or sale, new and “experienced” seismic equipment 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; Singapore; Brisbane, Australia; and Ufa, Bashkortostan, Russia.

The Equipment Manufacturing and Sales 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 UK, Singapore and New Hampshire, with sales offices in Huntsville, Texas and Brisbane, Australia.

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

 

    As of January 31, 2016     As of January 31, 2015     As of January 31, 2014  
    Equipment
Leasing		     Equipment
Manufacturing
and Sales		     Consolidated     Equipment
Leasing		     Equipment
Manufacturing
and Sales		     Consolidated     Equipment
Leasing		     Equipment
Manufacturing
and Sales		     Consolidated  

Fixed assets,
net

   $ 69,238      $ 4,278      $ 73,516      $ 98,964      $ 1,123      $ 100,087      $ 128,847      $ 726      $ 129,573   

Intangible assets, net

     —          10,466        10,466        1,006        9,825        10,831        1,529        1,672        3,201   

Goodwill

     —          4,155        4,155        —          5,594        5,594        —          4,320        4,320   

Total Assets

     95,932        39,059        134,759        148,985        30,982        179,611        183,911        21,814        205,419   

 

    Years Ended January 31,  
    2016     2015     2014  
    Equipment
Leasing		     Equipment
Manufacturing
and Sales		     Consolidated     Equipment
Leasing		     Equipment
Manufacturing
and Sales		     Consolidated     Equipment
Leasing		     Equipment
Manufacturing
and Sales		     Consolidated  

Revenues

   $ 26,665      $ 25,350      $ 51,819      $ 52,836      $ 30,872      $ 83,146      $ 55,549      $ 36,893      $ 92,108   

Interest income (expense),
net

     (486 )      (239 )      (725 )      (548 )      (125 )      (673 )      (6 )      (4 )      (10 ) 

Operating (loss) income

     (27,156 )      279        (26,760 )      (8,766 )      2,178        (6,745 )      699        5,055        5,805   

Capital expenditures

     2,283        226        2,509        15,874        4,026        19,900        43,663        395        44,058   

Depreciation and amortization expense

     30,370        1,741        32,111        35,472        1,514        36,986        30,353        684        31,037   

Approximately $196,000, $562,000 and $334,000 related to sales from Equipment Manufacturing and Sales to the Equipment Leasing segment is eliminated in the consolidated revenues for the fiscal years ended January 31, 2016, 2015 and 2014, respectively. Capital expenditures and fixed assets are reduced by approximately $6,000, $192,000 and $32,000 for the fiscal years ended January 31, 2016, 2015 and 2014, respectively, which represents the difference between the sales price and the cost to manufacture the equipment.

 

A reconciliation of operating income is as follows (in thousands):

 

     Years Ended January 31,  
     2016     2015     2014  

Equipment Leasing

    $ (27,156 )    $ (8,766 )    $ 699   

Equipment Manufacturing and Sales

      279        2,178        5,055   

Reconciling items:

       

Elimination of loss (profit) from inter-company sales

      117        (157 )      51   
  

 

 

    

 

 

    

 

 

  

Consolidated operating income

    $ (26,760 )    $ (6,745 )    $ 5,805