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Note 15 - Segment Reporting | 6 Months Ended
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Jul. 31, 2023
Notes to Financial Statements |
Segment Reporting Disclosure [Text Block] | 15. Segment Reporting The Company operates in two segments, Seamap and Klein. Seamap operates from facilities in Singapore, Malaysia, the United Kingdom and Texas. Klein operates from a location in New Hampshire. On August 21, 2023, the Company completed the sale of Klein (see Note 2 -"Sale of Subsidiary and Subsequent Events" for additional details). Prior to the year ended January 31, 2023, Seamap Marine Products and Klein Marine Products operating segments had been reported on an aggregated basis under our Marine Technology Products segment. We subsequently determined that we misapplied the provisions of ASC 280, Segment Reporting, regarding aggregation of operating segments. For fiscal 2024, we have correctly reported segment activity pursuant to the provisions of ASC 280, and we have restated segment information for the three and six months ended July 31, 2022, to correct our error and conform to our current presentation. As a matter of Company policy, corporate overhead is not allocated on a quarterly basis.
As of July 31, 2023 |  |  | As of January 31, 2023 |
Total Assets |  |  | Total Assets |
Seamap Marine Products |  |  | Klein Marine Products |  |  | Equipment Leasing -discontinued |  |  | Corporate |  |  | Consolidated |  |  | Seamap Marine Products |  |  | Klein Marine Products |  |  | Equipment Leasing -discontinued |  |  | Corporate |  |  | Consolidated |
| $ 23,139 |  |  |  | $ 10,537 |  |  |  | $ — |  |  |  | $ 549 |  |  |  | $ 34,225 |  |  |  | $ 21,302 |  |  |  | $ 10,708 |  |  |  | $ — |  |  |  | $ 848 |  |  |  | $ 32,858 |
|  | For the Three Months Ended July 31, 2023 |  |  | For the Three Months Ended July 31, 2022 |
|  | Seamap Marine Products |  |  | Klein Marine Products |  |  | Corporate expenses |  |  | Eliminations |  |  | Consolidated |  |  | Seamap Marine Products |  |  | Klein Marine Products |  |  | Corporate expenses |  |  | Eliminations |  |  | Consolidated |
Revenues |  |  | $ 7,618 |  |  |  | $ 1,238 |  |  |  | $ - |  |  |  | $ (106) |  |  |  | $ 8,750 |  |  |  | $ 5,025 |  |  |  | $ 3,689 |  |  |  | $ - |  |  |  | $ (1) |  |  |  | $ 8,713 |
Cost of sales |  |  | 4,677 |  |  |  | 912 |  |  |  | - |  |  |  | (106) |  |  |  | 5,483 |  |  |  | 3,213 |  |  |  | 1,963 |  |  |  | - |  |  |  | (1) |  |  |  | 5,175 |
Depreciation and amortization expense |  |  | 284 |  |  |  | 157 |  |  |  | 18 |  |  |  | - |  |  |  | 459 |  |  |  | 309 |  |  |  | 135 |  |  |  | 23 |  |  |  | - |  |  |  | 467 |
Interest expense |  |  | 40 |  |  |  | - |  |  |  | (204) |  |  |  | - |  |  |  | (164) |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Operating income (loss) |  |  | 1,026 |  |  |  | (780) |  |  |  | (1,794) |  |  |  | - |  |  |  | (1,548) |  |  |  | 292 |  |  |  | 494 |  |  |  | (2,337) |  |  |  | - |  |  |  | (1,551) |
|  | For the Six Months Ended July 31, 2023 |  |  | For the Six Months Ended July 31, 2022 |
|  | Seamap Marine Products |  |  | Klein Marine Products |  |  | Corporate expenses |  |  | Eliminations |  |  | Consolidated |  |  | Seamap Marine Products |  |  | Klein Marine Products |  |  | Corporate expenses |  |  | Eliminations |  |  | Consolidated |
Revenues |  | $ | 18,215 |  |  | $ | 3,569 |  |  | $ | - |  |  | $ | (448 | ) |  | $ | 21,336 |  |  | $ | 13,104 |  |  | $ | 4,810 |  |  | $ | - |  |  | $ | (114 | ) |  | $ | 17,800 |
Cost of sales |  |  | 10,738 |  |  |  | 2,362 |  |  |  | - |  |  |  | (448 | ) |  |  | 12,652 |  |  |  | 8,270 |  |  |  | 2,817 |  |  |  | - |  |  |  | (114 | ) |  |  | 10,973 |
Depreciation and amortization expense |  |  | 597 |  |  |  | 306 |  |  |  | 37 |  |  |  | - |  |  |  | 940 |  |  |  | 632 |  |  |  | 267 |  |  |  | 47 |  |  |  | - |  |  |  | 946 |
Interest expense |  |  | 40 |  |  |  | - |  |  |  | (408 | ) |  |  | - |  |  |  | (368 | ) |  |  | - |  |  |  | - |  |  |  | (4 | ) |  |  | - |  |  |  | (4 | )
Operating income (loss) |  |  | 3,746 |  |  |  | (911 | ) |  |  | (4,094 | ) |  |  | - |  |  |  | (1,259 | ) |  |  | 1,723 |  |  |  | (686 | ) |  |  | (5,064 | ) |  |  | - |  |  |  | (4,027 | )
Sales from the Klein Marine Products to the Seamap Marine Products segment are eliminated in consolidated revenues. Consolidated income before taxes reflects the elimination of profit from intercompany sales and the cost to manufacture the equipment. The following table presents a reconciliation of operating loss to loss from continuing operations before income taxes (in thousands):
|  | Three Months Ended July 31, |  |  | Six Months Ended July 31, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Seamap Marine Products |  | $ | 1,026 |  |  | $ | 292 |  |  | $ | 3,746 |  |  | $ | 1,723 |
Klein Marine Products |  |  | (780 | ) |  |  | 494 |  |  |  | (911 | ) |  |  | (686 | )
Corporate Expenses |  |  | (1,794 | ) |  |  | (2,337 | ) |  |  | (4,094 | ) |  |  | (5,064 | )
Operating loss |  |  | (1,548 | ) |  |  | (1,551 | ) |  |  | (1,259 | ) |  |  | (4,027 | )
Interest Expense |  |  | (164 | ) |  |  | — |  |  |  | (368 | ) |  |  | (4 | )
Other |  |  | 295 |  |  |  | (76 | ) |  |  | 388 |  |  |  | (190 | )
Loss from continuing operations before income taxes |  | $ | (1,417 | ) |  | $ | (1,627 | ) |  | $ | (1,239 | ) |  | $ | (4,221 | )

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