Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands |
3 Months Ended |
Apr. 30, 2022 |
Apr. 30, 2021 |
| Operating activities |
|
|
| Net loss |
$ (885)
|
$ (843)
|
| Adjustments to reconcile net loss to net cash flows used in operating activities |
|
|
| Depreciation and amortization |
995
|
1,122
|
| Deferred tax expense/(benefit) |
157
|
(157)
|
| Stock-based compensation expense |
236
|
272
|
| Provision on uncollectible accounts |
(25)
|
22
|
| Gain on disposal of fixed assets |
(1)
|
0
|
| Changes in operating assets and liabilities |
|
|
| Accounts receivable |
3,493
|
1,568
|
| Inventories, net |
(1,817)
|
(2,873)
|
| Costs and estimated earnings in excess of billings on uncompleted contracts |
(3,799)
|
1,806
|
| Accounts payable |
2,042
|
3,239
|
| Accrued compensation and payroll taxes |
(484)
|
221
|
| Customers' deposits |
533
|
128
|
| Income taxes receivable and payable |
(625)
|
302
|
| Prepaid expenses and other current assets |
(923)
|
(2,588)
|
| Other assets and liabilities |
(1,707)
|
(444)
|
| Net cash used in operating activities |
(7,108)
|
(2,427)
|
| Investing activities |
|
|
| Capital expenditures |
(400)
|
(424)
|
| Proceeds from sales of property and equipment |
70
|
0
|
| Net cash used in investing activities |
(330)
|
(424)
|
| Financing activities |
|
|
| Proceeds from revolving lines |
16,870
|
69
|
| Payments of debt on revolving lines |
(11,566)
|
(4,168)
|
| Payments of debt on mortgage |
0
|
(892)
|
| Payments of principal on finance obligation |
|
(90)
|
| Payments of other debt |
(86)
|
(65)
|
| Decrease in drafts payable |
(29)
|
16
|
| Stock options exercised and taxes paid related to restricted shares vested |
17
|
0
|
| Net cash provided by financing activities |
5,095
|
3,947
|
| Effect of exchange rate changes on cash, cash equivalents and restricted cash |
471
|
176
|
| Net (decrease)/increase in cash, cash equivalents and restricted cash |
(1,872)
|
1,272
|
| Cash, cash equivalents and restricted cash - beginning of period |
9,771
|
8,375
|
| Cash, cash equivalents and restricted cash - end of period |
7,899
|
9,647
|
| Supplemental cash flow information |
|
|
| Interest paid |
350
|
153
|
| Income taxes paid |
1,138
|
(35)
|
| Land and Buildings in Lebanon, Tennessee [Member] |
|
|
| Financing activities |
|
|
| Payments of principal on finance obligation |
(21)
|
(34)
|
| Finance Lease Obligations [Member] |
|
|
| Financing activities |
|
|
| Proceeds from finance obligation, net of issuance costs |
0
|
9,138
|
| Payments of principal on finance obligation |
(90)
|
(117)
|
| Unbilled Revenues [Member] |
|
|
| Changes in operating assets and liabilities |
|
|
| Unbilled accounts receivable |
$ (4,298)
|
$ (4,202)
|