Segment Reporting
 3 Months Ended
Apr. 30, 2018
Segment Reporting [Abstract]  
Segment Reporting
Segment Reporting
The Marine Technology Products 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.
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.
Financial information by business segment is set forth below (net of any allocations):
 
 
 
As of April 30, 2018
 
As of January 31, 2018
 
 
Total Assets
 
Total Assets
 
 
(in thousands)
Marine Technology Products
 
$
35,872

 
$
35,879

Equipment Leasing
 
36,893

 
37,850

Eliminations
 
(41
)
 
(50
)
Consolidated
 
$
72,724

 
$
73,679


Results for the three months ended April 30, 2018 and 2017 were as follows (in thousands):
 
 
Revenues
 
Operating income (loss)
 
Income (loss) before taxes
 
 
2018
 
2017
 
2018
 
2017
 
2018
 
2017
Marine Technology Products
 
$
3,708

 
$
6,911

 
$
(2,374
)
 
$
385

 
$
(2,348
)
 
$
113

Equipment Leasing
 
4,047

 
11,545

 
(2,293
)
 
(1,656
)
 
(2,215
)
 
(1,519
)
Corporate expenses
 
—

 
—

 
(905
)
 
(1,017
)
 
(905
)
 
(1,017
)
Eliminations
 
(142
)
 
(23
)
 
—

 
(1
)
 
—

 
(13
)
Consolidated
 
$
7,613

 
$
18,433

 
$
(5,572
)
 
$
(2,289
)
 
$
(5,468
)
 
$
(2,436
)
Sales from the Marine Technology Products segment to the Equipment Leasing segment are eliminated in 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.