Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Oct. 31, 2018 | Dec. 06, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | Perma-Pipe International Holdings, Inc. | |
Entity Central Index Key | 914,122 | |
Trading Symbol | ppih | |
Current Fiscal Year End Date | --01-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 7,885,374 | |
Document Type | 10-Q | |
Document Period End Date | Oct. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2018 | Oct. 31, 2017 | Oct. 31, 2018 | Oct. 31, 2017 | |
Net sales | $ 32,806 | $ 27,498 | $ 94,020 | $ 77,851 |
Cost of sales | 25,923 | 24,178 | 77,019 | 69,688 |
Gross profit | 6,883 | 3,320 | 17,001 | 8,163 |
Operating expenses | ||||
General and administrative expenses | 4,247 | 4,314 | 12,153 | 12,456 |
Selling expenses | 1,554 | 1,297 | 4,017 | 3,920 |
Total operating expenses | 5,801 | 5,611 | 16,170 | 16,376 |
Income/(loss) from operations | 1,082 | (2,291) | 831 | (8,213) |
Interest expense, net | 280 | 193 | 830 | 507 |
Income/(loss) from operations before income taxes | 802 | (2,484) | 1 | (8,720) |
Income tax expense/(benefit) | 934 | 808 | 1,525 | (241) |
Net loss | $ (132) | $ (3,292) | $ (1,524) | $ (8,479) |
Weighted average common shares outstanding | ||||
Basic and diluted (in shares) | 7,877 | 7,714 | 7,806 | 7,668 |
Loss per share | ||||
Basic and diluted (in dollars per share) | $ (0.02) | $ (0.43) | $ (0.20) | $ (1.11) |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2018 | Oct. 31, 2017 | Oct. 31, 2018 | Oct. 31, 2017 | |
Net loss | $ (132) | $ (3,292) | $ (1,524) | $ (8,479) |
Other comprehensive (loss) income | ||||
Foreign currency translation adjustments, net of tax | (551) | (250) | (1,538) | 822 |
Unrealized gain on marketable security, net of tax | (92) | |||
Other comprehensive (loss) income | (551) | (250) | (1,538) | 730 |
Comprehensive loss | $ (683) | $ (3,542) | $ (3,062) | $ (7,749) |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Oct. 31, 2018 | Jan. 31, 2018 |
Current assets | ||
Cash and cash equivalents | $ 9,582 | $ 7,084 |
Restricted cash | 2,536 | 1,237 |
Trade accounts receivable, less allowance for doubtful accounts of $480 at October 31, 2018 and $469 at January 31, 2018 | 32,280 | 32,936 |
Inventories, net | 14,330 | 16,856 |
Prepaid expenses and other current assets | 3,345 | 2,703 |
Contract assets | 2,357 | 1,502 |
Total current assets | 64,430 | 62,318 |
Property, plant and equipment, net of accumulated depreciation | 31,020 | 34,509 |
Other assets | ||
Deferred tax assets - long-term | 45 | 391 |
Goodwill | 2,269 | 2,423 |
Other assets | 5,966 | 4,943 |
Total other assets | 8,280 | 7,757 |
Total assets | 103,730 | 104,584 |
Current liabilities | ||
Trade accounts payable | 9,788 | 14,186 |
Accrued compensation and payroll taxes | 1,893 | 1,580 |
Commissions and incentives payable | 1,789 | 787 |
Revolving line of credit | 13,662 | 7,273 |
Current maturities of long-term debt | 1,046 | 753 |
Customers' deposits | 4,028 | 5,236 |
Outside commissions payable | 2,194 | 1,800 |
Contract liability | 1,599 | 1,967 |
Other accrued liabilities | 3,491 | 4,259 |
Income taxes payable | 1,348 | 1,339 |
Total current liabilities | 40,838 | 39,180 |
Long-term liabilities | ||
Long-term debt, less current maturities | 6,892 | 7,728 |
Deferred compensation liabilities | 3,504 | 4,098 |
Deferred tax liabilities - long-term | 1,149 | 1,242 |
Other long-term liabilities | 534 | 524 |
Total long-term liabilities | 12,079 | 13,592 |
Stockholders' equity | ||
Common stock, $.01 par value, authorized 50,000 shares; 7,877 issued and outstanding at October 31, 2018 and 7,717 issued and outstanding at January 31, 2018 | 79 | 77 |
Additional paid-in capital | 58,365 | 56,304 |
Accumulated deficit | (4,627) | (3,103) |
Accumulated other comprehensive loss | (3,004) | (1,466) |
Total stockholders' equity | 50,813 | 51,812 |
Total liabilities and stockholders' equity | $ 103,730 | $ 104,584 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands | Oct. 31, 2018 | Jan. 31, 2018 |
Allowance for doubtful accounts receivable | $ 480 | $ 469 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, authorized (in shares) | 50,000 | 50,000 |
Common stock, issued (in shares) | 7,877 | 7,717 |
Common stock, outstanding (in shares) | 7,877 | 7,717 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Net loss | $ (8,479) | ||||
Foreign currency translation adjustment | 822 | ||||
Balances at beginning of year (in shares) at Jan. 31, 2017 | 7,595,509 | ||||
Treasury stock released (in shares) | 26,753 | ||||
Shares issued (in shares) | 94,280 | ||||
Balances at period end (in shares) at Oct. 31, 2017 | 7,716,542 | ||||
Total stockholders' equity at Jan. 31, 2018 | $ 77 | $ 56,304 | $ (3,103) | $ (1,466) | 51,812 |
Net loss | (1,117) | (1,117) | |||
Common stock issued under stock plans, net of shares used for tax withholding | 25 | 25 | |||
Stock-based compensation expense | 249 | 249 | |||
Foreign currency translation adjustment | (665) | (665) | |||
Total stockholders' equity at Apr. 30, 2018 | $ 77 | 56,578 | (4,220) | (2,131) | 50,304 |
Balances at beginning of year (in shares) at Jan. 31, 2018 | 7,716,542 | ||||
Total stockholders' equity at Jan. 31, 2018 | $ 77 | 56,304 | (3,103) | (1,466) | 51,812 |
Net loss | (1,524) | ||||
Foreign currency translation adjustment | (1,538) | ||||
Total stockholders' equity at Oct. 31, 2018 | $ 79 | 58,365 | (4,627) | (3,004) | 50,813 |
Balances at beginning of year (in shares) at Jan. 31, 2018 | 7,716,542 | ||||
Treasury stock released (in shares) | |||||
Shares issued (in shares) | 161,332 | ||||
Balances at period end (in shares) at Oct. 31, 2018 | 7,877,874 | ||||
Total stockholders' equity at Apr. 30, 2018 | $ 77 | 56,578 | (4,220) | (2,131) | 50,304 |
Net loss | (275) | (275) | |||
Common stock issued under stock plans, net of shares used for tax withholding | 2 | 1,040 | 1,042 | ||
Stock-based compensation expense | 462 | 462 | |||
Foreign currency translation adjustment | (322) | (322) | |||
Total stockholders' equity at Jul. 31, 2018 | 79 | 58,080 | (4,495) | (2,453) | 51,211 |
Net loss | (132) | (132) | |||
Common stock issued under stock plans, net of shares used for tax withholding | (3) | (3) | |||
Stock-based compensation expense | 288 | 288 | |||
Foreign currency translation adjustment | (551) | (551) | |||
Total stockholders' equity at Oct. 31, 2018 | $ 79 | $ 58,365 | $ (4,627) | $ (3,004) | $ 50,813 |
Balances at period end (in shares) at Oct. 31, 2018 | 7,877,874 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Oct. 31, 2018 | Oct. 31, 2017 | |
Operating activities | ||
Net loss | $ (1,524) | $ (8,479) |
Adjustments to reconcile net loss to net cash flows used in operating activities | ||
Depreciation and amortization | 3,482 | 3,772 |
Deferred tax expense (benefit) | 346 | (544) |
Equity-based compensation expense | 999 | 795 |
Loss on disposal of fixed assets | 46 | 8 |
Provision on doubtful accounts | 14 | (324) |
Gain from sale of marketable securities | (142) | |
Changes in operating assets and liabilities | ||
Accounts receivable | (165) | 2,989 |
Inventories | 2,269 | (375) |
Change in contract assets and contract liabilities | (1,221) | 513 |
Accounts payable | (5,460) | (1,627) |
Accrued compensation and payroll taxes | 1,468 | (1,633) |
Customers' deposits | (1,194) | 1,566 |
Income taxes receivable and payable | 54 | (621) |
Prepaid expenses and other current assets | (801) | (196) |
Other assets and liabilities | 1,061 | 105 |
Net cash used in operating activities | (626) | (4,193) |
Investing activities | ||
Capital expenditures | (885) | (2,082) |
Proceeds from sales of marketable securities | 142 | |
Proceeds from sales of property and equipment | 1 | |
Net cash used in investing activities | (885) | (1,939) |
Financing activities | ||
Proceeds from revolving lines | 42,201 | 31,652 |
Payments of debt on revolving lines of credit | (35,152) | (26,055) |
Debt issuance costs | (930) | |
Payments of other debt | (266) | (161) |
Decrease in drafts payable | (20) | (4) |
Payments (borrowings) on capitalized lease obligations | (205) | 632 |
Release of treasury stock | 170 | |
Stock options exercised and taxes related to restricted shares vested | 249 | (216) |
Net cash provided by financing activities | 5,877 | 6,018 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | (569) | 684 |
Net increase in cash, cash equivalents and restricted cash | 3,797 | 570 |
Cash, cash equivalents and restricted cash - beginning of period | 8,321 | 8,701 |
Cash, cash equivalents and restricted cash - end of period | 12,118 | 9,271 |
Supplemental cash flow information | ||
Interest paid | 917 | 584 |
Income taxes paid | 1,118 | 786 |
Fixed assets acquired under capital leases | 841 | |
Funds held in escrow related to the sale of Filtration assets | $ 250 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Oct. 31, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1 The interim consolidated financial statements of Perma-Pipe International Holdings, Inc., and subsidiaries ("PPIH", "Company", or "Registrant", or "we", or "us") are unaudited, but include all adjustments that the Company's management considers necessary to present fairly the financial position and results of operations for the periods presented. These adjustments consist of normal recurring adjustments. Information and footnote disclosures have been omitted pursuant to Securities and Exchange Commission ("SEC") rules and regulations. The consolidated balance sheet as of January 31, 2018 not 10 January 31. 2018 2017 three nine October 31, 2018 2017, |
Note 2 - Business Segment Repor
Note 2 - Business Segment Reporting | 9 Months Ended |
Oct. 31, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 2 PPIH is engaged in the manufacture and sale of products in one may |
Note 3 - Accounts Receivable
Note 3 - Accounts Receivable | 9 Months Ended |
Oct. 31, 2018 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 3 The majority of the Company's accounts receivable are due from geographically dispersed contractors and manufacturing companies. Credit is extended based on an evaluation of a customer's financial condition, including the availability of credit insurance. In the U.S., collateral is not may One of the Company’s accounts receivable in the total amount of $ 5.4 January 31, 2018 ( 3.7 3.2 October 31, 2018 January 31, 2018 October 31, 2018 2015, January 31, 2018, $0.5 not October 31, 2018 not 2018, may October 31, 2018 4.9 November 2018, $0.1 $4.8 For the three nine October 31, 2018 2017 no 10% At October 31, 2018 one 18% January 31, 2018 three 35% |
Note 4 - Revenue Recognition
Note 4 - Revenue Recognition | 9 Months Ended |
Oct. 31, 2018 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 4 On February 1, 2018, 606, 606" not not The Company conducted a complete and thorough analysis of each single element of the five 606 no not Revenue from contracts with customers: The Company defines a contract as an agreement that has approval and commitment from both parties, defined rights and identifiable payment terms, which ensures the contract has commercial substance and that collectability is reasonably assured. The Company’s standard revenue transactions are classified in to two 1 Systems - which include all bundled products in which Perma-Pipe designs, engineers, and manufactures pre-insulated piping systems, insulates subsea flowline pipe or subsea oil production equipment. Additionally, this systems classification also includes coating applied to pipes and structures which are provided by the customer. 2 Products - which include cables, leak detection products, heat trace products sold under the PermAlert brand name, material/goods not not The Systems revenue class has generally accounted for more than 90% three nine October 31, 2018 2017 Three Months Ended October 31, Nine Months Ended October 31, 2018 2017 2018 2017 Sales % to Total Sales % to Total Sales % to Total Sales % to Total Products $ 4,440 14 % $ 2,504 9 % $ 9,447 10 % $ 5,830 7 % Specialty Piping Systems and Coating Revenue recognized under input method 11,869 36 % 10,986 40 % 32,778 35 % 34,240 44 % Revenue recognized under output method 16,497 50 % 14,008 51 % 51,795 55 % 37,781 49 % Total $ 32,806 100 % $ 27,498 100 % $ 94,020 100 % $ 77,851 100 % Most of the Company’s revenue is recognized over time as the manufacturing process progresses because one 1 the customer owns the material that is being insulated or coated, so the customer controls the asset and thus the work-in-process; or 2 the customer controls the work-in-process due to the custom nature of the pre-insulated, fabricated system being manufactured as evidenced by the Company’s right to payment for work performed to date plus seller’s profit margin for products that have no The U.S. operating entities measure revenue by the costs incurred to date relative to the estimated costs to satisfy the contract using the percentage-of-completion method (an input method). Generally, these contracts are considered a single performance obligation satisfied over time and due to the custom nature of the goods and services, the percentage-of-completion method is the most faithful depiction of the Company’s performance as it measures the value of the goods and services transferred to the customer. Costs include all material, labor, and direct costs incurred to satisfy the performance obligations of the contract. Revenue recognition begins when projects costs are incurred. All other operating entities measure revenue by the direct measurement of the outputs produced relative to the remaining goods promised under the contract (output method). Due to the types of end customers, generally these contracts require formal inspection protocols or specific export documentation for units produced or produced and shipped, therefore, the output method is the most faithful depiction of the Company’s performance. Depending on the conditions of the contract, revenue may Contract modifications that occur prior to the start of the manufacturing process will supersede the original contract and revenue is recognized using the modified contract value. Contract modifications that occur during the manufacturing process (changes in scope of work, job performance, material costs, and/or final contract settlements) are recognized in the period in which the revisions are known. Provisions for losses on uncompleted contracts are made in contract liabilities account in the period such losses are identified. Contract assets and liabilities: Contract assets represent revenue recognized in excess of amounts billed (unbilled receivables) for contract work in progress for which the Company has a valid contract and an enforceable right to payment for work completed. Contract liabilities represent billings in excess of costs (unearned revenue) for contract work in progress for which the Company has a valid contract and an enforceable right to payment for work completed. Both customer billings and the satisfaction (or partial satisfaction) of the performance obligation(s) occur throughout the manufacturing process and impacts the period end balances in these accounts. The Company anticipates that substantially all costs incurred for uncompleted contracts as of October 31, 2018 one The following tables set forth the changes in the Company's contract assets and liabilities for the periods indicated. The Company expects to recognize the remaining balances as of October 31, 2018 one Contract Assets Balance January 31, 2018 $ 1,502 Costs and gross profit recognized during the period for uncompleted contracts from the prior period (1,085 ) Costs and deferred gross profit incurred on uncompleted contracts not billed at the end of the current period 1,417 Closing Balance at April 30, 2018 $ 1,834 Costs and gross profit recognized during the period for uncompleted contracts from the prior period (1,395 ) Costs and deferred gross profit incurred on uncompleted contracts not billed at the end of the current period 1,575 Closing Balance at July 31, 2018 $ 2,014 Costs and gross profit recognized during the period for uncompleted contracts from the prior period (1,917 ) Costs and deferred gross profit incurred on uncompleted contracts not billed at the end of the current period 2,260 Closing Balance at October 31, 2018 $ 2,357 Contract Liabilities Balance January 31, 2018 $ 1,967 Revenue recognized during the period for uncompleted contracts from the prior period (1,810 ) New contracts entered into that are uncompleted at the end of the current period 413 Closing Balance at April 30, 2018 $ 570 Revenue recognized during the period for uncompleted contracts from the prior period (422 ) New contracts entered into that are uncompleted at the end of the current period 398 Closing Balance at July 31, 2018 $ 546 Revenue recognized during the period for uncompleted contracts from the prior period (497 ) New contracts entered into that are uncompleted at the end of the current period 1,550 Closing Balance at October 31, 2018 $ 1,599 Practical expedients: Costs to obtain a contract are not not one As the Company's contracts are less than one |
Note 5 -Income Taxes
Note 5 -Income Taxes | 9 Months Ended |
Oct. 31, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 5 The determination of the consolidated provision for income taxes, deferred tax assets and liabilities and related valuation allowances requires management to make judgments and estimates. As a company with subsidiaries in foreign jurisdictions, the process of calculating income taxes involves estimating current tax obligations and exposures in each jurisdiction as well as making judgments regarding the future recoverability of deferred tax assets. Income earned in the United Arab Emirates is not The Company's effective tax rate ("ETR") from operations for the current third 116% 122,166%, 32.5% 2.8% $1.5 $0.1 122,166%. The amount of unrecognized tax benefits, including interest and penalties, at October 31, 2018, $0.1 The U.S. Tax Cuts and Jobs Act ("Tax Act") was enacted on December 22, 2017 35% 21%, January 1, 2018 2017 one not Due to the timing of the enactment and the complexity involved in applying the provisions of the Tax Act, the Company has made reasonable estimates of the effects and recorded provisional amounts in its financial statements as of January 31, 2018 October 31, 2018. may third $0.1 no no Provisional amounts for the foregoing income tax effects of the Tax Act have been recorded as of October 31, 2018 |
Note 6 - Impairment of Long-liv
Note 6 - Impairment of Long-lived Assets | 9 Months Ended |
Oct. 31, 2018 | |
Notes to Financial Statements | |
Asset Impairment Charges [Text Block] | Note 6 The Company's assessment of long-lived assets, and other identifiable intangibles is based upon factors that market participants would use in accordance with the accounting guidance for the fair value measurement of assets. The Company will continue testing for potential impairment at least annually or as otherwise required by applicable accounting standards. There was no three nine October 31, 2018 2017 Goodwill. October 31, 2018 January 31, 2018 January 31, 2018 Foreign exchange change effect October 31, 2018 Goodwill $ 2,423 $ (154 ) $ 2,269 The Company performs an impairment assessment of goodwill annually as of January 31, no three nine October 31, 2018 2017 |
Note 7 - Stock-based Compensati
Note 7 - Stock-based Compensation | 9 Months Ended |
Oct. 31, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 7 At October 31, 2018 one may • 2017 June 13, 2017, June 2017 ( "2017 The Company has prior incentive plans under which previously granted awards remain outstanding, but under which no may October 31, 2018 921,314 2017 While the 2017 422 2017 2017 The Company has stock-based compensation awards that can be granted to eligible employees, officers or directors. The following is the stock-based compensation expense: Three Months Ended October 31, Nine Months Ended October 31, 2018 2017 2018 2017 Stock-based compensation expense $ 5 $ 21 $ 28 $ 80 Restricted stock-based compensation expense 283 294 971 938 Total stock-based compensation expense $ 288 $ 315 $ 999 $ 1,018 Stock Options The following tables summarize the Company's stock option activity: Option activity No. of Shares Underlying Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at January 31, 2018 358 9.44 4.0 $ 482 Exercised (37 ) 6.88 86 Expired or forfeited (54 ) 17.08 Outstanding end of period 267 8.42 3.6 408 Exercisable end of period 257 $ 8.49 3.5 $ 384 Unvested option activity No. of Shares Underlying Options Weighted Average Grant Date Fair Value Aggregate Intrinsic Value Outstanding at January 31, 2018 31 $ 8.24 $ 50 Vested (14 ) Expired or forfeited (6 ) Outstanding end of period 11 $ 7.00 $ 23 As of October 31, 2018 0.1 1.4 Restricted stock The following table summarizes the Company's restricted stock activity for the year: Restricted stock activity Restricted Shares Weighted Average Grant Price Per Share Aggregate Intrinsic Value Outstanding (unvested) at January 31, 2018 360 $ 9.05 $ 3,254 Granted 148 9.76 Vested and issued (89 ) Forfeited (69 ) 7.27 Outstanding (unvested) end of period 350 9.14 $ 3,199 As of October 31, 2018 1.3 2.4 As a result of certain events that occurred during second 2018, $0.7 |
Note 8 - Earnings Per Share
Note 8 - Earnings Per Share | 9 Months Ended |
Oct. 31, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 8 Three Months Ended October 31, Nine Months Ended October 31, 2018 2017 2018 2017 Basic weighted average common shares outstanding 7,877 7,714 7,806 7,668 Dilutive effect of equity compensation plans — — — — Weighted average common shares outstanding assuming full dilution 7,877 7,714 7,806 7,668 Stock options not included in the computation of diluted earnings per share of common stock because the option exercise prices exceeded the average market prices of the common shares 176 143 176 143 Stock options with an exercise price below the average market price 90 226 90 226 |
Note 9 - Debt
Note 9 - Debt | 9 Months Ended |
Oct. 31, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 9 Debt totaled $ 21.6 October 31, 2018 5.8 January 31, 2018. Revolving lines North America . September 20, 2018, three $18 $15 September 24, 2014, The Company initially used borrowings under the new Senior Credit Facility to pay off outstanding amounts under the Prior Credit Agreement (which totaled approximately USD $3,773,823 4,794,528 $154,500 0.375% Subject to certain exceptions, borrowings under the Senior Credit Facility are secured by substantially all of the assets of the Company and certain of its North American subsidiaries. The North American Loan Parties’ obligations under the Senior Credit Facility are guaranteed by Perma-Pipe Canada, Inc. The Senior Credit Facility will mature on September 20, 2021. $3 The Senior Credit Facility also contains financial covenants requiring (i) the North America Loan Parties to achieve consolidated net income (excluding the financial performance of the Company’s foreign subsidiaries not $1,807,000 August 1, 2018 October 31, 2018; ( $2,462,000 August 1, 2018 January 31, 2019; ( not not 1.10 1.00 nine April 30, 2019 July 31, 2019 four not not 1.10 1.00 nine October 31, 2018 January 31, 2019 four October 31, 2018 The Senior Credit Facility contains customary events of default. If an event of default occurs and is continuing, then PNC may 2.00% As of October 31, 2018, $13.7 7.75% 5.78%, 6.45%, $2.9 Revolving lines foreign . October 31, 2018 October 31, 2018 s 3.5% te of 4.5% October 31, 2018 6.11% 6.14%, 6.14%, $9.1 October 31, 2018 $6.6 October 31, 2018 $0.5 al $2.1 October 31, 2018 January 31, 2018, Mortgages. July 28, 2016, 8.0 $6.1 December 23, 2042. t 6.1%, 37 $28 27 $20 January 2018. On June 19, 2012, $1.8 4.5% $13 July 1, 2027. June 19, 2022, not 2.0% 18.0% 4.5%. Capital Leases. 2017, three 1.1 $0.8 4.0% 7.8% $0.1 April 30, 2021 September 29, 2022. |
Note 10 - Restricted Cash
Note 10 - Restricted Cash | 9 Months Ended |
Oct. 31, 2018 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | Note 10 Restricted cash held by foreign subsidiaries was $ 1.0 October 31, 2018 $1.2 January 31, 2018. October 31, 2018 $1.5 Nine Months Ended October 31, 2018 2017 Cash and cash equivalents $ 9,582 $ 8,373 Restricted cash 2,536 898 Cash, cash equivalents and restricted cash shown in the statement of cash flows $ 12,118 $ 9,271 |
Note 11 - Fair Value
Note 11 - Fair Value | 9 Months Ended |
Oct. 31, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 11 The carrying values of cash and cash equivalents, accounts receivable and accounts payable are reasonable estimates of their fair value due to their short-term nature. The carrying amount of the Company's short-term debt, revolving line of credit and long-term debt approximate fair value, because the majority of the amounts outstanding accrue interest at variable market rates. |
Note 12 - Recent Accounting Pro
Note 12 - Recent Accounting Pronouncements | 9 Months Ended |
Oct. 31, 2018 | |
Notes to Financial Statements | |
Description of New Accounting Pronouncements Not yet Adopted [Text Block] | Note 12 In June 2018, 718, No. 2018 07 December 15, 2018, not In March 2017, February 1, 2018 not In October 2016, third February 1, 2018. not In February 2016, 2016 02, 842 No. 2016 02 December 15, 2018, In May 2014, No. 2014 09, 606" 2016. February 1, 2018. not 4 The Company evaluated other recent accounting pronouncements and does not |
Note 4 - Revenue Recognition (T
Note 4 - Revenue Recognition (Tables) | 9 Months Ended |
Oct. 31, 2018 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended October 31, Nine Months Ended October 31, 2018 2017 2018 2017 Sales % to Total Sales % to Total Sales % to Total Sales % to Total Products $ 4,440 14 % $ 2,504 9 % $ 9,447 10 % $ 5,830 7 % Specialty Piping Systems and Coating Revenue recognized under input method 11,869 36 % 10,986 40 % 32,778 35 % 34,240 44 % Revenue recognized under output method 16,497 50 % 14,008 51 % 51,795 55 % 37,781 49 % Total $ 32,806 100 % $ 27,498 100 % $ 94,020 100 % $ 77,851 100 % |
Contract with Customer, Asset and Liability [Table Text Block] | Contract Assets Balance January 31, 2018 $ 1,502 Costs and gross profit recognized during the period for uncompleted contracts from the prior period (1,085 ) Costs and deferred gross profit incurred on uncompleted contracts not billed at the end of the current period 1,417 Closing Balance at April 30, 2018 $ 1,834 Costs and gross profit recognized during the period for uncompleted contracts from the prior period (1,395 ) Costs and deferred gross profit incurred on uncompleted contracts not billed at the end of the current period 1,575 Closing Balance at July 31, 2018 $ 2,014 Costs and gross profit recognized during the period for uncompleted contracts from the prior period (1,917 ) Costs and deferred gross profit incurred on uncompleted contracts not billed at the end of the current period 2,260 Closing Balance at October 31, 2018 $ 2,357 Contract Liabilities Balance January 31, 2018 $ 1,967 Revenue recognized during the period for uncompleted contracts from the prior period (1,810 ) New contracts entered into that are uncompleted at the end of the current period 413 Closing Balance at April 30, 2018 $ 570 Revenue recognized during the period for uncompleted contracts from the prior period (422 ) New contracts entered into that are uncompleted at the end of the current period 398 Closing Balance at July 31, 2018 $ 546 Revenue recognized during the period for uncompleted contracts from the prior period (497 ) New contracts entered into that are uncompleted at the end of the current period 1,550 Closing Balance at October 31, 2018 $ 1,599 |
Note 6 - Impairment of Long-l_2
Note 6 - Impairment of Long-lived Assets (Tables) | 9 Months Ended |
Oct. 31, 2018 | |
Notes Tables | |
Schedule of Goodwill [Table Text Block] | January 31, 2018 Foreign exchange change effect October 31, 2018 Goodwill $ 2,423 $ (154 ) $ 2,269 |
Note 7 - Stock-based Compensa_2
Note 7 - Stock-based Compensation (Tables) | 9 Months Ended |
Oct. 31, 2018 | |
Notes Tables | |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | Three Months Ended October 31, Nine Months Ended October 31, 2018 2017 2018 2017 Stock-based compensation expense $ 5 $ 21 $ 28 $ 80 Restricted stock-based compensation expense 283 294 971 938 Total stock-based compensation expense $ 288 $ 315 $ 999 $ 1,018 |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Option activity No. of Shares Underlying Options Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at January 31, 2018 358 9.44 4.0 $ 482 Exercised (37 ) 6.88 86 Expired or forfeited (54 ) 17.08 Outstanding end of period 267 8.42 3.6 408 Exercisable end of period 257 $ 8.49 3.5 $ 384 |
Schedule of Nonvested Share Activity [Table Text Block] | Unvested option activity No. of Shares Underlying Options Weighted Average Grant Date Fair Value Aggregate Intrinsic Value Outstanding at January 31, 2018 31 $ 8.24 $ 50 Vested (14 ) Expired or forfeited (6 ) Outstanding end of period 11 $ 7.00 $ 23 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | Restricted stock activity Restricted Shares Weighted Average Grant Price Per Share Aggregate Intrinsic Value Outstanding (unvested) at January 31, 2018 360 $ 9.05 $ 3,254 Granted 148 9.76 Vested and issued (89 ) Forfeited (69 ) 7.27 Outstanding (unvested) end of period 350 9.14 $ 3,199 |
Note 8 - Earnings Per Share (Ta
Note 8 - Earnings Per Share (Tables) | 9 Months Ended |
Oct. 31, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended October 31, Nine Months Ended October 31, 2018 2017 2018 2017 Basic weighted average common shares outstanding 7,877 7,714 7,806 7,668 Dilutive effect of equity compensation plans — — — — Weighted average common shares outstanding assuming full dilution 7,877 7,714 7,806 7,668 Stock options not included in the computation of diluted earnings per share of common stock because the option exercise prices exceeded the average market prices of the common shares 176 143 176 143 Stock options with an exercise price below the average market price 90 226 90 226 |
Note 10 - Restricted Cash (Tabl
Note 10 - Restricted Cash (Tables) | 9 Months Ended |
Oct. 31, 2018 | |
Notes Tables | |
Restrictions on Cash and Cash Equivalents [Table Text Block] | Nine Months Ended October 31, 2018 2017 Cash and cash equivalents $ 9,582 $ 8,373 Restricted cash 2,536 898 Cash, cash equivalents and restricted cash shown in the statement of cash flows $ 12,118 $ 9,271 |
Note 2 - Business Segment Rep_2
Note 2 - Business Segment Reporting (Details Textual) | 9 Months Ended |
Oct. 31, 2018 | |
Number of Reportable Segments | 1 |
Note 3 - Accounts Receivable (D
Note 3 - Accounts Receivable (Details Textual) $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Nov. 30, 2018USD ($) | Oct. 31, 2018USD ($) | Oct. 31, 2017 | Oct. 31, 2018USD ($) | Oct. 31, 2017 | Jan. 31, 2018USD ($) | |
Accounts Receivable, Outstanding for Several Years | $ 4,900 | $ 4,900 | $ 5,400 | |||
Contract Receivable Retainage, Total | 3,700 | 3,700 | ||||
Proceeds from Collection of Accounts Receivable Outstanding for Several Years | 500 | |||||
Allowance for Doubtful Accounts Receivable Outstanding for Several Years | $ 0 | $ 0 | ||||
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | ||||||
Number of Major Customers | 0 | 0 | 0 | 0 | ||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | ||||||
Number of Major Customers | 1 | 3 | ||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | One Customer [Member] | ||||||
Concentration Risk, Percentage | 18.00% | |||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Three Customers [Member] | ||||||
Concentration Risk, Percentage | 35.00% | |||||
Subsequent Event [Member] | ||||||
Accounts Receivable, Outstanding for Several Years | $ 4,800 | |||||
Proceeds from Collection of Accounts Receivable Outstanding for Several Years | $ 100 | |||||
Other Noncurrent Assets [Member] | ||||||
Contract Receivable Retainage, Total | $ 3,200 | $ 3,200 |
Note 4 - Revenue Recognition (D
Note 4 - Revenue Recognition (Details Textual) | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2018 | Oct. 31, 2017 | Oct. 31, 2018 | Oct. 31, 2017 | |
Percent of Revenue from Contract With Customer, Including Assessed Tax | 100.00% | 100.00% | 100.00% | 100.00% |
Costs Incurred for Uncompleted Contracts, Anticipated Collection Period | 1 year | |||
Specialty Piping Systems And Coating [Member] | ||||
Percent of Revenue from Contract With Customer, Including Assessed Tax | 90.00% |
Note 4 - Revenue Recognition -
Note 4 - Revenue Recognition - Revenues by Revenue Class (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2018 | Oct. 31, 2017 | Oct. 31, 2018 | Oct. 31, 2017 | |
Sales by product | $ 32,806 | $ 27,498 | $ 94,020 | $ 77,851 |
Sales by product (percent of total) | 100.00% | 100.00% | 100.00% | 100.00% |
Product [Member] | Transferred at Point in Time [Member] | ||||
Sales by product | $ 4,440 | $ 2,504 | $ 9,447 | $ 5,830 |
Sales by product (percent of total) | 14.00% | 9.00% | 10.00% | 7.00% |
Specialty Piping Systems And Coating [Member] | ||||
Sales by product (percent of total) | 90.00% | |||
Specialty Piping Systems And Coating [Member] | Transferred at Point in Time Using Input Method [Member] | ||||
Sales by product | $ 11,869 | $ 10,986 | $ 32,778 | $ 34,240 |
Sales by product (percent of total) | 36.00% | 40.00% | 35.00% | 44.00% |
Specialty Piping Systems And Coating [Member] | Transferred at Point in Time Using Output Method [Member] | ||||
Sales by product | $ 16,497 | $ 14,008 | $ 51,795 | $ 37,781 |
Sales by product (percent of total) | 50.00% | 51.00% | 55.00% | 49.00% |
Note 4 - Revenue Recognition _2
Note 4 - Revenue Recognition - Contract With Customer, Asset and Liability (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Oct. 31, 2018 | Jul. 31, 2018 | Apr. 30, 2018 | |
Beginning balance | $ 2,014 | $ 1,834 | $ 1,502 |
Costs and gross profit recognized during the period for uncompleted contracts from the prior period | (1,917) | (1,395) | (1,085) |
Costs and deferred gross profit incurred on uncompleted contracts not billed at the end of the current period | 2,260 | 1,575 | 1,417 |
Closing balance | 2,357 | 2,014 | 1,834 |
Beginning balance | 546 | 570 | 1,967 |
Revenue recognized during the period for uncompleted contracts from the prior period | (497) | (422) | (1,810) |
New contracts entered into that are uncompleted at the end of the current period | 1,550 | 398 | 413 |
Closing balance | $ 1,599 | $ 546 | $ 570 |
Note 5 -Income Taxes (Details T
Note 5 -Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2018 | Oct. 31, 2017 | Oct. 31, 2018 | Oct. 31, 2017 | |
Effective Income Tax Rate Reconciliation, Percent, Total | 116.00% | 32.50% | 122.166% | 2.80% |
Income Tax Expense (Benefit), Total | $ 934 | $ 808 | $ 1,525 | $ (241) |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total | 802 | $ (2,484) | 1 | $ (8,720) |
Unrecognized Tax Benefits, Ending Balance | $ 100 | 100 | ||
Global Intangible Low-taxed Income (GILTI) | 100 | |||
Maximum [Member] | ||||
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total | $ 100 |
Note 6 - Impairment of Long-l_3
Note 6 - Impairment of Long-lived Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2018 | Oct. 31, 2017 | Oct. 31, 2018 | Oct. 31, 2017 | |
Impairment of Long-Lived Assets Held-for-use | $ 0 | $ 0 | $ 0 | $ 0 |
Goodwill, Impairment Loss | $ 0 | $ 0 | $ 0 | $ 0 |
Note 6 - Impairment of Long-l_4
Note 6 - Impairment of Long-lived Assets - Goodwill (Details) $ in Thousands | 9 Months Ended |
Oct. 31, 2018USD ($) | |
Goodwill | $ 2,423 |
Goodwill, foreign exchange change effect | (154) |
Goodwill | $ 2,269 |
Note 7 - Stock-based Compensa_3
Note 7 - Stock-based Compensation (Details Textual) $ in Millions | 3 Months Ended | 9 Months Ended |
Jul. 31, 2018USD ($) | Oct. 31, 2018USD ($)shares | |
Number of Incentive Stock Plans Under Which New Awards May Be Granted | 1 | |
Common Stock, Capital Shares Reserved for Future Issuance | shares | 921,314 | |
Director [Member] | ||
Deferred Stock Compensation Arrangements, Classified from a Liability to Additional Paid In Capital | $ 0.7 | |
Employee Stock Option [Member] | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 0.1 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 146 days | |
Restricted Stock [Member] | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 1.3 | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 146 days |
Note 7 - Stock-based Compensa_4
Note 7 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2018 | Oct. 31, 2017 | Oct. 31, 2018 | Oct. 31, 2017 | |
Stock-based compensation expense | $ 288 | $ 315 | $ 999 | $ 1,018 |
Employee Stock Option [Member] | ||||
Stock-based compensation expense | 5 | 21 | 28 | 80 |
Restricted Stock [Member] | ||||
Stock-based compensation expense | $ 283 | $ 294 | $ 971 | $ 938 |
Note 7 - Stock-based Compensa_5
Note 7 - Stock-based Compensation - Stock Option Activity (Details) - Employee Stock Option [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 9 Months Ended | 12 Months Ended |
Oct. 31, 2018 | Jan. 31, 2018 | |
Outstanding at beginning of year (in shares) | 358 | |
Outstanding at beginning of year, weighted average exercise price (in dollars per share) | $ 9.44 | |
Outstanding, weighted average remaining contractual term (Year) | 3 years 219 days | 4 years |
Outstanding at beginning of year, aggregate intrinsic value | $ 408 | $ 482 |
Exercised (in shares) | (37) | |
Exercised, weighted average exercise price (in dollars per share) | $ 6.88 | |
Exercised, aggregate intrinsic value | $ 86 | |
Expired or forfeited (in shares) | (54) | |
Expired or forfeited, weighted average exercise price (in dollars per share) | $ 17.08 | |
Outstanding at end of period (in shares) | 267 | 358 |
Outstanding at end of period, weighted average exercise price (in dollars per share) | $ 8.42 | $ 9.44 |
Exercisable end of period (in shares) | 257 | |
Exercisable end of period, weighted average exercise price (in dollars per share) | $ 8.49 | |
Exercisable end of period, weighted average remaining contractual term (Year) | 3 years 182 days | |
Exercisable end of period, aggregate intrinsic value | $ 384 |
Note 7 - Stock-based Compensa_6
Note 7 - Stock-based Compensation - Unvested Option Activity (Details) - Unvested Option [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 9 Months Ended | |
Oct. 31, 2018 | Jan. 31, 2018 | |
Outstanding at beginning of year (in shares) | 31 | |
Outstanding, Weighted average grant date fair value (in dollars per share) | $ 7 | $ 8.24 |
Outstanding at beginning of year, aggregate intrinsic value | $ 23 | $ 50 |
Vested, number (in shares) | (14) | |
Expired or forfeited (in shares) | (6) | |
Outstanding at end of period (in shares) | 11 |
Note 7 - Stock-based Compensa_7
Note 7 - Stock-based Compensation - Restricted Stock Activity (Details) - Restricted Stock [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 9 Months Ended | |
Oct. 31, 2018 | Jan. 31, 2018 | |
Outstanding (unvested) at beginning of year (in shares) | 360 | |
Outstanding (unvested) at beginning of year, weighted average grant price per share (in dollars per share) | $ 9.14 | $ 9.05 |
Outstanding (unvested) at beginning of year, aggregate intrinsic value | $ 3,199 | $ 3,254 |
Granted (in shares) | 148 | |
Granted, weighted average grant price per share (in dollars per share) | $ 9.76 | |
Vested and issued (in shares) | (89) | |
Forfeited (in shares) | (69) | |
Forfeited, weighted average grant price per share (in dollars per share) | $ 7.27 | |
Outstanding (unvested) at end of period (in shares) | 350 |
Note 8 - Earnings Per Share - S
Note 8 - Earnings Per Share - Summary of Earnings Per Share (Details) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2018 | Oct. 31, 2017 | Oct. 31, 2018 | Oct. 31, 2017 | |
Basic weighted average common shares outstanding (in shares) | 7,877 | 7,714 | 7,806 | 7,668 |
Dilutive effect of equity compensation plans (in shares) | ||||
Weighted average common shares outstanding assuming full dilution (in shares) | 7,877 | 7,714 | 7,806 | 7,668 |
Stock options not included in the computation of diluted earnings per share of common stock because the option exercise prices exceeded the average market prices of the common shares (in shares) | 176 | 143 | 176 | 143 |
Idaho [Member] | ||||
Stock options with an exercise price below the average market price (in shares) | 90 | 226 | 90 | 226 |
Note 9 - Debt (Details Textual)
Note 9 - Debt (Details Textual) | Jul. 28, 2016USD ($) | Jul. 28, 2016CAD ($) | Jun. 19, 2012USD ($) | Oct. 31, 2018USD ($) | Oct. 31, 2018CAD ($) | Oct. 31, 2018USD ($) | Oct. 31, 2017USD ($) | Jan. 31, 2018USD ($) | Sep. 19, 2018USD ($) | Jan. 31, 2018CAD ($) |
Debt and Capital Lease Obligations, Total | $ 21,600,000 | $ 21,600,000 | ||||||||
Debt Instrument, Increase (Decrease), Net, Total | 5,800,000 | |||||||||
Repayments of Lines of Credit | 35,152,000 | $ 26,055,000 | ||||||||
Line of Credit, Current | $ 13,662,000 | 13,662,000 | $ 7,273,000 | |||||||
Canadian Mortgage Note [Member] | ||||||||||
Proceeds from Issuance of Debt | $ 6,100,000 | $ 8,000,000 | ||||||||
Debt Instrument, Maturity Date | Dec. 23, 2042 | Dec. 23, 2042 | ||||||||
Debt Instrument, Interest Rate, Effective Percentage | 6.10% | 6.10% | ||||||||
Debt Instrument, Periodic Payment, Interest | $ 28,000 | $ 37,000 | ||||||||
Debt Instrument, Periodic Payment, Principal | $ 20,000 | $ 27,000 | ||||||||
Mortgage Note Secured by Tennessee Manufacturing Facility [Member] | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.50% | |||||||||
Debt Instrument, Maturity Date | Jul. 1, 2027 | |||||||||
Debt Instrument, Issuance Date | Jun. 19, 2012 | |||||||||
Proceeds from Issuance of Secured Debt | $ 1,800,000 | |||||||||
Debt Instrument, Periodic Payment, Total | $ 13,000 | |||||||||
Debt Instrument, Adjustable Interest Rate Period, Commencement Date | Jun. 19, 2022 | |||||||||
Debt Instrument, Interest Rate, Maximum Annual Increase | 2.00% | |||||||||
Debt Instrument, Adjustable Interest Rate, Ceiling | 18.00% | |||||||||
Debt Instrument, Adjustable Interest Rate, Floor | 4.50% | |||||||||
Three 2017 Capital Leases [Member] | ||||||||||
Debt Instrument, Periodic Payment, Total | 100,000 | |||||||||
Capital Lease Obligations, Total | $ 800,000 | $ 1,100,000 | ||||||||
Debt Instrument, Maturity Date Range, Start | Apr. 30, 2021 | |||||||||
Debt Instrument, Maturity Date Range, End | Sep. 29, 2022 | |||||||||
Maximum [Member] | Three 2017 Capital Leases [Member] | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 7.80% | 7.80% | ||||||||
Minimum [Member] | Three 2017 Capital Leases [Member] | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | 4.00% | ||||||||
Revolving Lines, North America [Member] | ||||||||||
Debt Instrument, Term | 3 years | 3 years | ||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 18,000,000 | 18,000,000 | $ 15,000,000 | |||||||
Repayments of Lines of Credit | $ 3,773,823 | $ 4,794,528 | ||||||||
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage | 0.375% | 0.375% | ||||||||
Line of Credit Facility, Capital Expenditures Restrictions | $ 3,000,000 | 3,000,000 | ||||||||
Line of Credit Facility, Covenant Terms, EBITDA, Term One | 1,807,000 | 1,807,000 | ||||||||
Line of Credit Facility, Covenant Terms, EBITDA, Term Two | $ 2,462,000 | $ 2,462,000 | ||||||||
Line of Credit Facility, Covenant Terms, EBITDA Ratio, Term One | 1.1 | 1.1 | ||||||||
Line of Credit Facility, Covenant Terms, EBITDA Ratio, Term Two | 1.1 | 1.1 | ||||||||
Debt Instrument, Default Rate | 2.00% | 2.00% | ||||||||
Line of Credit, Current | $ 13,700,000 | $ 13,700,000 | ||||||||
Debt, Weighted Average Interest Rate | 6.45% | 6.45% | ||||||||
Line of Credit Facility, Current Borrowing Capacity | $ 2,900,000 | $ 2,900,000 | ||||||||
Line of Credit Facility, Expiration Date | Sep. 20, 2021 | Sep. 20, 2021 | ||||||||
Revolving Lines, North America [Member] | Maximum [Member] | ||||||||||
Line of Credit Facility, Interest Rate at Period End | 7.75% | 7.75% | ||||||||
Revolving Lines, North America [Member] | Minimum [Member] | ||||||||||
Line of Credit Facility, Interest Rate at Period End | 5.78% | 5.78% | ||||||||
Letter of Credit [Member] | ||||||||||
Repayments of Lines of Credit | $ 154,500 | |||||||||
Foreign Revolving Lines [Member] | ||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 9,100,000 | $ 9,100,000 | ||||||||
Line of Credit, Current | $ 500,000 | $ 500,000 | ||||||||
Debt, Weighted Average Interest Rate | 6.14% | 6.14% | ||||||||
Letters of Credit Outstanding, Amount | $ 6,600,000 | $ 6,600,000 | ||||||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 2,100,000 | $ 2,100,000 | ||||||||
Foreign Revolving Lines [Member] | EIBOR [Member] | ||||||||||
Debt Instrument, Basis Spread on Variable Rate | 3.50% | |||||||||
Foreign Revolving Lines [Member] | Maximum [Member] | ||||||||||
Line of Credit Facility, Interest Rate at Period End | 6.14% | 6.14% | ||||||||
Foreign Revolving Lines [Member] | Minimum [Member] | ||||||||||
Line of Credit Facility, Interest Rate at Period End | 6.11% | 6.11% | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.50% | 4.50% |
Note 10 - Restricted Cash (Deta
Note 10 - Restricted Cash (Details Textual) - USD ($) $ in Thousands | Oct. 31, 2018 | Jan. 31, 2018 | Oct. 31, 2017 |
Restricted Cash, Current | $ 2,536 | $ 1,237 | $ 898 |
Non-US [Member] | |||
Restricted Cash, Current | 1,000 | $ 1,200 | |
UNITED STATES | |||
Restricted Cash, Current | $ 1,500 |
Note 10 - Restricted Cash - Sum
Note 10 - Restricted Cash - Summary of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands | Oct. 31, 2018 | Jan. 31, 2018 | Oct. 31, 2017 |
Cash and cash equivalents | $ 9,582 | $ 7,084 | $ 8,373 |
Restricted Cash, Current | 2,536 | $ 1,237 | 898 |
Cash, cash equivalents and restricted cash shown in the statement of cash flows | $ 12,118 | $ 9,271 |