Perma-Pipe International (PPIH) 10-Q 8 Dec 23 2023 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Oct. 31, 2023	Dec. 07, 2023
Document Information [Line Items]
Entity Central Index Key	0000914122
Entity Registrant Name	Perma-Pipe International Holdings, Inc.
Amendment Flag	false
Current Fiscal Year End Date	--01-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2023
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Oct. 31, 2023
Document Transition Report	false
Entity File Number	001-32530
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	36-3922969
Entity Address, Address Line One	24900 Pitkin Road, Suite 309
Entity Address, City or Town	Spring
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77386
City Area Code	847
Local Phone Number	966-1000
Title of 12(b) Security	Common Stock, $.01 par value per share
Trading Symbol	PPIH
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		8,063,501

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2023	Oct. 31, 2022
Net sales	$ 45,690	$ 37,903	$ 110,489	$ 106,128
Cost of sales	32,506	26,773	81,065	78,063
Gross profit	13,184	11,130	29,424	28,065
Operating expenses
General and administrative expenses	5,674	5,284	16,417	16,180
Selling expenses	1,471	1,310	4,201	3,863
Total operating expenses	7,145	6,594	20,618	20,043
Income from operations	6,039	4,536	8,806	8,022
Interest expense	640	717	1,788	1,585
Other expense	(502)	(948)	(350)	(963)
Income before income taxes	4,897	2,871	6,668	5,474
Income tax expense	1,533	1,143	3,257	2,763
Net income	3,364	1,728	3,411	2,711
Less: Net income attributable to non-controlling interest	1,429	0	1,577	0
Net income attributable to common stock	$ 1,935	$ 1,728	$ 1,834	$ 2,711
Weighted average common shares outstanding
Basic (in shares)	7,955	8,004	7,996	8,096
Diluted (in shares)	8,021	8,146	8,106	8,238
Earnings per share attributable to common stock
Basic (in dollars per share)	$ 0.24	$ 0.22	$ 0.23	$ 0.33
Diluted (in dollars per share)	$ 0.24	$ 0.21	$ 0.23	$ 0.33

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2023	Oct. 31, 2022
Net income	$ 3,364	$ 1,728	$ 3,411	$ 2,711
Other comprehensive income (loss)
Foreign currency translation adjustment	(2,035)	(2,735)	(2,133)	(4,122)
Minimum pension liability adjustment, net of tax	0	1,247	0	1,247
Comprehensive income (loss)	1,329	240	1,278	(164)
Less: Comprehensive income attributable to non-controlling interests	1,429	0	1,577	0
Total comprehensive (loss) income attributable to common stock	$ (100)	$ 240	$ (299)	$ (164)

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Oct. 31, 2023	Jan. 31, 2023
Current assets
Cash and cash equivalents	$ 6,021	$ 5,773
Restricted cash	1,387	1,020
Trade accounts receivable, less allowance for credit losses of $574 at October 31, 2023 and $612 at January 31, 2023	47,095	42,010
Inventories	16,052	14,738
Prepaid expenses and other current assets	7,316	7,357
Unbilled accounts receivable	14,320	11,634
Costs and estimated earnings in excess of billings on uncompleted contracts	2,462	3,126
Total current assets	94,653	85,658
Long-term assets
Property, plant and equipment, net of accumulated depreciation	35,851	26,518
Operating lease right-of-use asset	6,376	4,527
Deferred tax assets	639	696
Goodwill	2,152	2,227
Other long-term assets	4,534	3,340
Total long-term assets	49,552	37,308
Total assets	144,205	122,966
Current liabilities
Trade accounts payable	26,104	14,754
Accrued compensation and payroll taxes	1,551	1,179
Commissions and management incentives payable	4,546	4,764
Revolving line - North America	6,702	4,387
Current maturities of long-term debt	7,132	6,227
Customers' deposits	3,220	1,951
Operating lease liability short-term	920	912
Other accrued liabilities	3,076	5,549
Billings in excess of costs and estimated earnings on uncompleted contracts	904	1,743
Income taxes payable	3,383	2,324
Total current liabilities	57,538	43,790
Long-term liabilities
Long-term debt, less current maturities	4,158	4,389
Deferred compensation liabilities	1,142	1,608
Deferred tax liabilities	976	909
Operating lease liability long-term	6,143	4,252
Other long-term liabilities	1,252	1,019
Total long-term liabilities	25,538	21,392
Non-controlling interest	4,156	0
Stockholders' equity
Common stock, $.01 par value, authorized 50,000 shares; 7,951 issued and outstanding at October 31, 2023 and 8,004 at January 31, 2023	80	80
Additional paid-in capital	62,991	62,562
Treasury stock, 109 shares at October 31, 2023 and 3 shares at January 31, 2023	(967)	(26)
Retained earnings	3,451	1,617
Accumulated other comprehensive loss	(8,582)	(6,449)
Total stockholders' equity	56,973	57,784
Total liabilities and stockholders' equity	144,205	122,966
Related Party [Member]
Long-term liabilities
Related party loan	2,753	0
Land and Buildings in Lebanon, Tennessee [Member]
Long-term liabilities
Long-term finance obligation	$ 9,114	$ 9,215

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ in Thousands	Oct. 31, 2023	Jan. 31, 2023
Allowance for doubtful accounts	$ 574	$ 612
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)	7,951	8,004
Common stock, outstanding (in shares)	7,951	8,004
Treasury stock (in shares)	109	3

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock, Common [Member] Revision of Prior Period, Adjustment [Member]	Treasury Stock, Common [Member]	AOCI Attributable to Parent [Member]	Total
Balance at Jan. 31, 2022	$ 82	$ 61,766	$ (2,295)		$ (1,992)	$ (3,104)	$ 54,457
Net income (loss)	0	0	(885)		0	0	(885)
Stock-based compensation expense	0	236	0		0	0	236
Foreign currency translation adjustment	0	0	0		0	(932)	(932)
Common stock issued under stock plans, net of shares used for tax withholding	0	16	0		0	0	16
Balance at Apr. 30, 2022	$ 82	62,018	(3,180)		(1,992)	(4,036)	52,892
Balances (in shares) at Jan. 31, 2022	8,151,754			(234,281)
Balance at Jan. 31, 2022	$ 82	61,766	(2,295)		(1,992)	(3,104)	54,457
Net income (loss)							2,711
Foreign currency translation adjustment							(4,122)
Balance at Oct. 31, 2022	$ 80	62,307	(1,617)		$ 0	(5,979)	54,791
Balances (in shares) at Jan. 31, 2022	8,151,754			(234,281)
Treasury stock retired (in shares)					(4,887)
Shares issued, net of shares used for tax withholding (in shares)	94,416
Balances (in shares) at Oct. 31, 2022	8,007,002
Balance at Apr. 30, 2022	$ 82	62,018	(3,180)		$ (1,992)	(4,036)	52,892
Net income (loss)	0	0	1,868		0	0	1,868
Stock-based compensation expense	0	284	0		0	0	284
Foreign currency translation adjustment	0	0	0		0	(455)	(455)
Common stock issued under stock plans, net of shares used for tax withholding	0	(247)	0		0	0	(247)
Repurchase of common stock	0	0	0		(43)	0	(43)
Balance at Jul. 31, 2022	80	62,055	(3,345)		0	(4,491)	54,299
Retirement of treasury stock	(2)	0	(2,033)		2,035	0	0
Net income (loss)	0	0	1,728		0	0	1,728
Stock-based compensation expense	0	243	0		0	0	243
Foreign currency translation adjustment	0	0	0		0	(2,735)	(2,735)
Common stock issued under stock plans, net of shares used for tax withholding	0	9	0		0	0	9
Balance at Oct. 31, 2022	80	62,307	(1,617)		0	(5,979)	54,791
Pension liability	$ 0	0	0		0	1,247	1,247
Balances (in shares) at Oct. 31, 2022	8,007,002
Balance at Jan. 31, 2023	$ 80	62,562	1,617		(26)	(6,449)	57,784
Net income (loss)	0	0	(1,123)		0	0	(1,123)
Stock-based compensation expense	0	229	0		0	0	229
Foreign currency translation adjustment	0	0	0		0	(437)	(437)
Balance at Apr. 30, 2023	$ 80	62,791	494		(26)	(6,886)	56,453
Balances (in shares) at Jan. 31, 2023	8,007,002			0
Balance at Jan. 31, 2023	$ 80	62,562	1,617		(26)	(6,449)	57,784
Net income (loss)							1,834
Foreign currency translation adjustment							(2,133)
Balance at Oct. 31, 2023	$ 80	62,991	3,451		$ (967)	(8,582)	56,973
Balances (in shares) at Jan. 31, 2023	8,007,002			0
Treasury stock retired (in shares)					0
Shares issued, net of shares used for tax withholding (in shares)	56,499
Balances (in shares) at Oct. 31, 2023	8,063,501
Balance at Apr. 30, 2023	$ 80	62,791	494		$ (26)	(6,886)	56,453
Net income (loss)	0	0	1,022		0	0	1,022
Stock-based compensation expense	0	245	0		0	0	245
Foreign currency translation adjustment	0	0	0		0	339	339
Common stock issued under stock plans, net of shares used for tax withholding	0	(274)	0		0	0	(274)
Repurchase of common stock	1
Repurchase of common stock		0	0		(312)	0	(311)
Balance at Jul. 31, 2023	81	62,762	1,516		(338)	(6,547)	57,474
Net income (loss)	0	0	1,935		0	0	1,935
Stock-based compensation expense	0	229	0		0	0	229
Foreign currency translation adjustment	0	0	0		0	(2,035)	(2,035)
Repurchase of common stock	(1)
Repurchase of common stock		0	0		(629)	0	(630)
Balance at Oct. 31, 2023	$ 80	$ 62,991	$ 3,451		$ (967)	$ (8,582)	$ 56,973
Balances (in shares) at Oct. 31, 2023	8,063,501

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Operating activities
Net income	$ 3,411	$ 2,711
Adjustments to reconcile net income to net cash provided by (used in) operating activities
Depreciation and amortization	2,774	2,781
Deferred tax expense	145	358
Stock-based compensation expense	686	763
Non-cash pension termination expense	0	813
Provision on uncollectible accounts	(37)	20
(Loss) gain from disposal of fixed assets	(13)	134
Changes in operating assets and liabilities
Accounts receivable	(5,377)	(4,345)
Inventories	(1,426)	(1,545)
Costs and estimated earnings in excess of billings on uncompleted contracts	(175)	(3,086)
Accounts payable	9,346	513
Accrued compensation and payroll taxes	1,167	126
Customers' deposits	1,272	1,250
Income taxes payable	327	530
Prepaid expenses and other current assets	205	(785)
Other assets and liabilities	(1,912)	1,699
Net cash provided by (used in) operating activities	7,617	(5,100)
Investing activities
Capital expenditures	(8,204)	(3,236)
Proceeds from insurance recovery for property and equipment	5	0
Proceeds from sales of property and equipment	0	117
Net cash used in investing activities	(8,199)	(3,119)
Financing activities
Proceeds from revolving credit lines	120,467	62,778
Payments of debt on revolving credit lines	(117,419)	(54,259)
Payments of other debt	(179)	(198)
Decrease in drafts payable	(199)	(130)
Repurchase of common stock	(941)	(43)
Stock options exercised and taxes paid related to restricted shares vested	(273)	(222)
Net cash provided by financing activities	1,196	7,610
Effect of exchange rate changes on cash, cash equivalents and restricted cash	1	563
Net increase (decrease) in cash, cash equivalents and restricted cash	615	(46)
Cash, cash equivalents and restricted cash - beginning of period	6,793	9,771
Cash, cash equivalents and restricted cash - end of period	7,408	9,725
Supplemental cash flow information
Cash interest paid	1,754	1,505
Cash income taxes paid	2,546	2,107
Fixed assets acquired from non affiliates - non-cash	4,357	0
Finance Lease Obligations [Member]
Financing activities
Payments of principal on finance obligation	(176)	(251)
Land and Buildings in Lebanon, Tennessee [Member]
Financing activities
Payments of principal on finance obligation	(84)	(65)
Unbilled Revenues [Member]
Changes in operating assets and liabilities
Unbilled accounts receivable	$ (2,776)	$ (7,037)

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation	9 Months Ended
	Oct. 31, 2023
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 (collectively, "PPIH", "Company", or "Registrant") 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. Certain 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, 2023 not 10 January 31. 2023 2022 January 31, 2024 January 31, 2023 Significant New Accounting Policies Refer to the Company's Annual Report on Form 10 January 31, 2023 April 27, 2023 nine October 31, 2023 Current Expected Credit Loss In June 2016, No. 2016 13, Financial Instruments - Credit Losses (Topic 326 not December 15, 2022. February 1, 2023, not nine October 31, 2023 . Subsequent Events The Company has evaluated subsequent events through December 8, 2023,

Note 2 - Business Segment Repor

Note 2 - Business Segment Reporting	9 Months Ended
	Oct. 31, 2023
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	Note 2 The Company is engaged in the manufacture and sale of products in one reportable segment: Piping Systems. The Company engineers, manufactures and sells pre-insulated specialty piping systems, and leak detection systems. Pre-insulated specialty piping systems include: (i) insulated and jacketed district heating and cooling piping systems for efficient energy distribution from central energy plants to multiple locations, (ii) primary and secondary containment piping systems for transporting chemicals, hazardous fluids and petroleum products, (iii) the coating and/or insulation of oil and gas gathering and transmission pipelines, and (iv) liquid and powder based anti-corrosion coatings applied both to the external and internal surfaces of steel pipe, including shapes like bends, reducers, tees, and other spools/fittings used in pipelines for the transportation of oil and gas products and potable water. The Company's leak detection systems are sold with its piping systems or on a stand-alone basis to monitor areas where fluid intrusion may

Note 3 - Accounts Receivable

Note 3 - Accounts Receivable	9 Months Ended
	Oct. 31, 2023
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	Note 3 The majority of the Company's accounts receivable consist of geographically dispersed contractors and manufacturing companies. Credit is extended based on an evaluation of a customer's financial condition. In the United States, collateral is not In 2015, not October 31, 2023 long-term assets on the Company's consolidated balance sheets. Regardless of the contractual due date for payment, the Company has been actively engaged in ongoing efforts to collect this outstanding balance. The Company continues to engage with the customer to ensure full payment of the open balances. In September 2023 June 2022, 2022 2023 not October 31, 2023 not may For the three October 31, 2023 , one customer accounted for of the Company's consolidated net sales, and during the same period in 2022 , individual customer accounted for greater than 10% of the Company’s consolidated net sales. For the nine October 31, 2023 2022 10% As of October 31, 2023 January 31, 2023 , customers accounted for of the Company's accounts receivable, and one of the Company's accounts receivable, respectively.

Note 4 - Revenue Recognition

Note 4 - Revenue Recognition	9 Months Ended
	Oct. 31, 2023
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	Note 4 The Company accounts for its revenues under Accounting Standards Codification ("ASC") 606, Revenue from Contracts with Customers 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 into two 1 Systems and Coating - Includes all bundled products in which the Company engineers and manufactures pre-insulated specialty piping systems mainly relating to the district heating and cooling and oil & gas markets. 2 Products - Includes cables, leak detection products, heat trace products, material/goods not not In accordance with ASC 606 10 25 27 29, one 1 the customer owns the material that is being 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 profit margin. Products revenue is recognized when goods are shipped or services are performed (ASC 606 10 25 30 A breakdown of the Company's revenues by revenue class for the three nine October 31, 2023 2022 Three Months Ended October 31, Nine Months Ended October 31, 2023 2022 2023 2022 Sales % of Total Sales % of Total Sales % of Total Sales % of Total Products $ 2,553 5 % $ 4,363 12 % $ 7,541 7 % $ 11,144 10 % Specialty Piping Systems and Coating Revenue recognized under input method 18,641 41 % 12,593 33 % 41,779 38 % 35,918 34 % Revenue recognized under output method 24,496 54 % 20,947 55 % 61,169 55 % 59,066 56 % Total $ 45,690 100 % $ 37,903 100 % $ 110,489 100 % $ 106,128 100 % The input method as noted in ASC 606 10 55 20 The output method as noted in ASC 606 10 55 17 may Some of the Company’s operating entities invoice and collect milestone payments or receive other contractual obligations prior to the transfer of goods and services, but do not 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 are made for estimated losses on uncompleted contracts in the contract liabilities account in the period in which such losses are determined. Contract assets and liabilities Contract assets represent revenue recognized in excess of amounts billed for 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 for 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 impact the period end balances in these accounts. The following table shows the reconciliation of costs in excess of billings and billings in excess of costs: October 31, 2023 January 31, 2023 Costs incurred on uncompleted contracts $ 22,560 $ 18,342 Estimated earnings 11,916 9,370 Earned revenue 34,476 27,712 Less billings to date 32,918 26,329 Costs in excess of billings, net $ 1,558 $ 1,383 Balance sheet classification Contract assets: Costs and estimated earnings in excess of billings on uncompleted contracts $ 2,462 $ 3,126 Contract liabilities: Billings in excess of costs and estimated earnings on uncompleted contracts (904 ) (1,743 ) Costs in excess of billings, net $ 1,558 $ 1,383 The Company anticipates that substantially all costs incurred on uncompleted contracts as of October 31, 2023 one October 31, 2023 will be satisfied and collected within one Unbilled accounts receivable The Company has recorded $ million and $11.6 million s October 31, 2023 January 31, 2023 , October 31, 2023 will be billed within one Practical expedients Costs to obtain a contract are not not one As the Company's contracts are generally less than one

Note 5 - Income Taxes

Note 5 - Income Taxes	9 Months Ended
	Oct. 31, 2023
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 U.A.E. is not The Company's worldwide effective tax rates ("ETR") for the three October 31, 2023 2022 were and , respectively. The change in the ETR is due primarily to the inability to recognize tax benefits due to losses incurred in the United States resulting in a full valuation allowance and due to changes in the mix of income and loss in various jurisdictions. The Company expects that future distributions from foreign subsidiaries will not not October 31, 2023

Note 6 - Impairment of Long-liv

Note 6 - Impairment of Long-lived Assets	9 Months Ended
	Oct. 31, 2023
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. During October 31, 2023 may not may not may not three nine October 31, 2023 2022 not Goodwill. October 31, 2023 January 31, 2023 2016. The following table provides a reconciliation of changes in the carrying amount of goodwill: January 31, 2023 Foreign exchange change effect October 31, 2023 Goodwill $ 2,227 $ (75 ) $ 2,152 The Company performs an impairment assessment of goodwill annually as of January 31, October 31, 2023 may not not not October 31, 2023 2022 not January 31,

Note 7 - Stock-based Compensati

Note 7 - Stock-based Compensation	9 Months Ended
	Oct. 31, 2023
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	Note 7 The Company has prior incentive plans under which previously granted awards remain outstanding but under which no may October 31, 2023 shares The Company's prior incentive plans provided for the grant of deferred shares, non-qualified stock options, incentive stock options, restricted shares, restricted stock units, and performance-based restricted stock units intended to qualify under section 422 The Company's 2021 May 26, 2021 May 2021 ( "2021 2021 May 2024. 2021 2021 Stock-based compensation expense The Company has granted stock-based compensation awards to eligible employees, officers or independent directors. The Company recognized the following stock-based compensation expense for the periods presented: Three Months Ended October 31, Nine Months Ended October 31, 2023 2022 2023 2022 Restricted stock-based compensation expense $ 229 $ 243 $ 686 $ 763 Stock options The Company did not three nine October 31, 2023 Options Weighted Average Exercise Price (Per share) Weighted Average Remaining Contractual Term (In years) Aggregate Intrinsic Value Outstanding at January 31, 2023 40 $ 10.85 1.1 $ 19 Exercised (1 ) 6.85 - 2 Expired or forfeited (17 ) 10.60 - - Outstanding and exercisable at October 31, 2023 22 $ 11.15 0.9 $ 1 There was no vesting, expiration or forfeiture of previously unvested stock options during the nine October 31, 2023 . As of October 31, 2023 , there were no remaining unvested stock options outstanding, and therefore no unrecognized compensation expense related to unvested stock options. Restricted stock The following table summarizes the Company's restricted stock activity for the nine October 31, 2023 Restricted Shares Weighted Average Price (Per share) Aggregate Intrinsic Value Outstanding at January 31, 2023 267 $ 8.55 $ 2,286 Granted 91 10.26 Vested and issued (84 ) 8.43 Forfeited or retired for taxes (47 ) 9.23 Outstanding at October 31, 2023 228 $ 9.35 $ 2,133 As of October 31, 2023 million years

Note 8 - Earnings (Loss) Per Sh

Note 8 - Earnings (Loss) Per Share	9 Months Ended
	Oct. 31, 2023
Notes to Financial Statements
Earnings Per Share [Text Block]	Note 8 Three Months Ended October 31, Nine Months Ended October 31, 2023 2022 2023 2022 Basic weighted average common shares outstanding at October 31, 2023 7,955 8,004 7,996 8,096 Dilutive effect of equity compensation plans 66 142 110 142 Weighted average common shares outstanding assuming full dilution 8,021 8,146 8,106 8,238 Stock options and restricted stock not included in the computation of diluted earnings per share of common stock because the option exercise prices or grant date prices exceeded the average market prices of the common shares 122 105 18 105 Stock options and restricted stock with exercise prices or grant date prices below the average market prices 66 142 170 142 Net income attributable to common stock $ 1,935 $ 1,728 $ 1,834 $ 2,711 Earnings per share attributable to common stock Basic $ 0.24 $ 0.22 $ 0.23 $ 0.33 Diluted $ 0.24 $ 0.21 $ 0.23 $ 0.33

Note 9 - Debt

Note 9 - Debt	9 Months Ended
	Oct. 31, 2023
Notes to Financial Statements
Debt Disclosure [Text Block]	Note 9 Debt totaled $27.2 million and $24.3 million at October 31, 2023 January 31, 2023 Revolving lines - North America . September 20, 2018, three On September 17, 2021, five The Borrowers have used and will continue to use borrowings under the Renewed Senior Credit Facility (i) to fund future capital expenditures; (ii) to fund ongoing working capital needs; and (iii) for other corporate purposes, including potentially additional stock repurchases. Borrowings under the Renewed Senior Credit Facility bear interest at a rate equal to an alternate base rate or the Secured Overnight Financing Rate (as defined in the Renewed Senior Credit Facility, "SOFR"), plus, in each case, an applicable margin. The applicable margin is based on a fixed charge coverage ratio ("FCCR") range. Interest on alternate base rate borrowings is the alternate base rate (as defined in the Renewed Senior Credit Facility) plus an applicable margin, ranging from 1.00% to 1.50% 2.00% to 2.50% riod, as well as an additional SOFR adjustment ranging from 0.10% to 0.25%, based on the term of the interest period. 0.25% Subject to certain exceptions, borrowings under the Renewed Senior Credit Facility are secured by substantially all of the North American Loan Parties’ assets. The Renewed Senior Credit Facility matures on September 20, 2026. may not may not The Renewed Senior Credit Facility also contains financial covenants requiring the North American Loan Parties to achieve a ratio of its EBITDA (as defined in the Renewed Senior Credit Facility) to the sum of scheduled cash principal payments on indebtedness for borrowed money and interest payments on the advances under the Renewed Senior Credit Facility of not 1.00 five October 31, 2023 , the calculated ratio was less than 1.10 to 1.00. may not October 31, 2023 . The Renewed Senior Credit Facility contains customary events of default. If an event of default occurs and is continuing, then PNC may As of October 31, 2023 $6.7 million at a rate of 10.0% and had $4.6 million available under the Renewed Senior Credit Facility. As of January 31, 2023 Finance obligation - buildings and land. On April 14, 2021, fifteen four five In accordance with ASC 842, Leases October 31, 2023 . The net carrying amount of the financial liability and remaining assets will be zero Revolving lines - foreign . The Company also has credit arrangements used by its Middle Eastern subsidiaries in the U.A.E. , Egypt and Saudi Arabia as discussed further below. United Arab Emirates The Company has a revolving line for 8.0 million U.A.E. Dirhams (approximately $2.2 million at October 31, 2023 October 31, 2023 May 2024. October 31, 2023 January 31, 2023 The Company has a revolving line for 19.5 million U.A.E. Dirhams (approximately $5.3 million at October 31, 2023 October 31, 2023 May 2024. October 31, 2023 January 31, 2023 Egypt In June 2021, $3.2 million October 31, 2023 October 31, 2023 and expired in June 2022. August 2022 August 2023. October 31, 2023 January 31, 2023 In December 2021, y $0.3 mi October 31, 2023 The facility has an interest rate of approximately 20.8% and, as of November 2022, October 31, 2023 January 31, 2023 Saudi Arabia In March 2022, October 31, 2023 May 2023, 37.0 million October 31, 2023 October 31, 2023 May 2024. October 31, 2023 January 31, 2023 These credit arrangements are in the form of overdraft facilities and project financing at rates competitive in the countries in which the Company operates. The lines are secured by certain equipment, certain assets (such as accounts receivable and inventory), and a guarantee by the Company. Some credit arrangement covenants require a minimum tangible net worth to be maintained, including maintaining certain levels of intercompany subordinated debt. In addition, some of the revolving credit facilities restrict payment of dividends or undertaking of additional debt. The Company guarantees only a portion of the subsidiaries' debt, including foreign debt. As of October 31, 2023 ately $0.1 million. The Company was in compliance with the covenants under the credit arrangements in the U.A.E., Egypt and Saudi Arabia as of October 31, 2023 not October 31, 2023 two October 31, 2023 $27.2 million As of October 31, 2023 , $6.7 million o f availability was used to support letters of credit to guarantee amounts committed for inventory purchases and for performance guarantees. Additionally, as of October 31, 2023 , the Company had borrow ed $9.5 million $13.7 million October 31, 2023 January 31, 2023 Mortgages. July 28, 2016, December 23, 2042. October 31, 2023 October 31, 2023 October 31, 2023 October 31, 2023 January 31, 2023

Note 10 - Leases

Note 10 - Leases	9 Months Ended
	Oct. 31, 2023
Notes to Financial Statements
Lessee, Operating and Finance Leases [Text Block]	Note 10 Operating Leases. August 2020, August 2022 August 2050. In March December 2022, December 2022 2023. first three October 31, 2023 . The termination resulted in decreases of $0.3 million, $4.0 million and $3.6 million to operating lease liability short-term, operating lease liability long-term and operating lease right-of-use asset, respectively, in the consolidated balance sheets as of October 31, 2023 . The termination also resulted in a decrease in rent expense of $1.1 million in the consolidated statement of operations for the year ended January 31, 2023. Finance Leases. one thirty not not not not At October 31, 2023 $7.1 $6.4 million October 31, 2023 Supplemental balance sheet information related to leases is as follows: Operating and Finance leases: October 31, 2023 January 31, 2023 Finance leases assets: Property and Equipment - gross $ 940 $ 1,161 Accumulated depreciation and amortization (482 ) (700 ) Property and Equipment - net $ 458 $ 461 Finance lease liabilities: Finance lease liability short-term $ 31 $ 164 Total finance lease liabilities $ 117 $ 164 Operating lease assets: Operating lease ROU assets $ 6,376 $ 4,527 Operating lease liabilities: Operating lease liability short-term $ 920 $ 912 Operating lease liability long-term 6,143 4,252 Total operating lease liabilities $ 7,063 $ 5,164 Total lease costs consist of the following: Three Months Ended October 31, Nine Months Ended October 31, Lease costs Consolidated Statements of Operations Classification 2023 2022 2023 2022 Finance Lease Costs Amortization of ROU assets Cost of sales $ 37 $ 62 $ 121 $ 125 Interest on lease liabilities Interest expense 3 8 7 18 Operating lease costs Cost of sales, SG&A expenses 564 694 1,450 587 Short-term lease costs (1) Cost of sales, SG&A expenses 99 13 350 72 Sub-lease income SG&A expenses (20 ) (27 ) (61 ) (40 ) Total Lease costs $ 683 $ 750 $ 1,867 $ 762 ( 1 not Supplemental cash flow information related to leases is as follows: Nine Months Ended October 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Financing cash outflows from finance leases $ 176 $ 251 Operating cash outflows from finance leases 7 24 Operating cash outflows from operating leases 1,399 1,377 ROU liabilities obtained in exchange for new lease obligations: Operating leases liabilities $ 3,615 $ - Nine Months Ended October 31, 2023 2022 ROU liabilities obtained in exchange for new lease obligations: Finance leases liabilities $ 139 $ - Operating leases liabilities 3,615 - Weighted-average lease terms and discount rates are as follows: October 31, 2023 Weighted-average remaining lease terms (in years): Finance leases 3.3 Operating leases 14.9 Weighted-average discount rates: Finance leases 10.2 % Operating leases 8.9 % Maturities of lease liabilities as of October 31, 2023 Operating Leases Finance Leases For the three months ending January 31, 2024 $ 565 $ 9 For the year ending January 31, 2025 1,515 37 For the year ending January 31, 2026 1,349 37 For the year ending January 31, 2027 1,326 37 For the year ending January 31, 2028 1,273 9 For the year ending January 31, 2029 947 - Thereafter 7,465 - Total lease payments $ 14,440 $ 129 Less: amount representing interest (7,377 ) (12 ) Total lease liabilities at October 31, 2023 $ 7,063 $ 117 Rent expense on operating leases, which is recorded on straight-line basis, was $0.7 million three October 31, 2023 2022

Note 11 - Restricted Cash

Note 11 - Restricted Cash	9 Months Ended
	Oct. 31, 2023
Notes to Financial Statements
Cash and Cash Equivalents Disclosure [Text Block]	Note 11 Restricted cash held by foreign subsidiaries is related to fixed deposits that also serve as security deposits and guarantees: October 31, 2023 January 31, 2023 Cash and cash equivalents $ 6,021 $ 5,773 Restricted cash 1,387 1,020 Cash, cash equivalents and restricted cash shown in the statement of cash flows $ 7,408 $ 6,793

Note 12 - Fair Value

Note 12 - Fair Value	9 Months Ended
	Oct. 31, 2023
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 12 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 lines of credit and long-term debt approximate fair value because the majority of the amounts outstanding accrue interest at variable market rates.

Note 13 - Recent Accounting Pro

Note 13 - Recent Accounting Pronouncements	9 Months Ended
	Oct. 31, 2023
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	Note 13 The Company evaluated recent accounting pronouncements and does not

Note 14 - Treasury Stock

Note 14 - Treasury Stock	9 Months Ended
	Oct. 31, 2023
Notes to Financial Statements
Treasury Stock [Text Block]	Note 14 The repurchase program approved on October 4, 2021 December 7, 2022 October 4, 2021 October 3, 2022. three October 31, 2023 The following table sets forth the repurchase activity with respect to the Company's shares of common stock during the three October 31, 2023: Period Total number of shares purchased Average price paid (per share) Total number of shares purchased as part of publicly announced plans or programs Approximate dollar value of shares that may yet be purchased under the plans or programs August 1, 2023 - August 31, 2023 62 $ 8.64 62 $ 91 September 1, 2023 - September 30, 2023 10 8.92 10 - October 1, 2023 - October 31, 2023 - - - - Total 72 72 On July 26, 2022, 505 30, Equity - Treasury Stock.

Note 15 - Noncontrolling Intere

Note 15 - Noncontrolling Interests	9 Months Ended
	Oct. 31, 2023
Notes to Financial Statements
Noncontrolling Interest Disclosure [Text Block]	Note 15 The Company has a controlling financial interest in a certain investment which is not third 810, Consolidations not five not not not On June 1, 2023, 805, Business Combinations and Noncontrolling Interests not no no Net income attributable to GIG was $ million and $ million for the three October 31, 2023 2022 , respectively. Net income attributable to GIG was $ million and $ million for the nine October 31, 2023 2022 , respectively. The proportionate share of net income was accounted for as a reduction in deriving net income attributable to common stock in the Company's consolidated statements of operations. The Company had carrying amounts attributable to non-controlling interest of $ million and $ million recorded within temporary equity at October 31, 2023 January 31, 2023 , respectively. There were no October 31, 2023 January 31, 2023 , respectively.

Note 16 - Contingencies

Note 16 - Contingencies	9 Months Ended
	Oct. 31, 2023
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 16 The Company is subject to various legal proceedings and claims that arise in the ordinary course of business, including those involving environmental, tax, product liability and general liability claims. The Company accrues for such liabilities when it is probable that future costs will be incurred and such costs can be reasonably estimated. Such accruals are based on developments to date, the Company's estimates of the outcomes with respect to these matters, and its experience in contesting, litigating and settling other similar matters. As of October 31, 2023, not

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Oct. 31, 2023
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Significant New Accounting Policies Refer to the Company's Annual Report on Form 10 January 31, 2023 April 27, 2023 nine October 31, 2023 Current Expected Credit Loss In June 2016, No. 2016 13, Financial Instruments - Credit Losses (Topic 326 not December 15, 2022. February 1, 2023, not nine October 31, 2023 .
Subsequent Events, Policy [Policy Text Block]	Subsequent Events The Company has evaluated subsequent events through December 8, 2023,

Note 4 - Revenue Recognition (T

Note 4 - Revenue Recognition (Tables)	9 Months Ended
	Oct. 31, 2023
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended October 31, Nine Months Ended October 31, 2023 2022 2023 2022 Sales % of Total Sales % of Total Sales % of Total Sales % of Total Products $ 2,553 5 % $ 4,363 12 % $ 7,541 7 % $ 11,144 10 % Specialty Piping Systems and Coating Revenue recognized under input method 18,641 41 % 12,593 33 % 41,779 38 % 35,918 34 % Revenue recognized under output method 24,496 54 % 20,947 55 % 61,169 55 % 59,066 56 % Total $ 45,690 100 % $ 37,903 100 % $ 110,489 100 % $ 106,128 100 %
Schedule of Assumptions for Long-Duration Contracts by Product and Guarantee [Table Text Block]	October 31, 2023 January 31, 2023 Costs incurred on uncompleted contracts $ 22,560 $ 18,342 Estimated earnings 11,916 9,370 Earned revenue 34,476 27,712 Less billings to date 32,918 26,329 Costs in excess of billings, net $ 1,558 $ 1,383 Balance sheet classification Contract assets: Costs and estimated earnings in excess of billings on uncompleted contracts $ 2,462 $ 3,126 Contract liabilities: Billings in excess of costs and estimated earnings on uncompleted contracts (904 ) (1,743 ) Costs in excess of billings, net $ 1,558 $ 1,383

Note 6 - Impairment of Long-l_2

Note 6 - Impairment of Long-lived Assets (Tables)	9 Months Ended
	Oct. 31, 2023
Notes Tables
Schedule of Goodwill [Table Text Block]	January 31, 2023 Foreign exchange change effect October 31, 2023 Goodwill $ 2,227 $ (75 ) $ 2,152

Note 7 - Stock-based Compensa_2

Note 7 - Stock-based Compensation (Tables)	9 Months Ended
	Oct. 31, 2023
Notes Tables
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended October 31, Nine Months Ended October 31, 2023 2022 2023 2022 Restricted stock-based compensation expense $ 229 $ 243 $ 686 $ 763
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Options Weighted Average Exercise Price (Per share) Weighted Average Remaining Contractual Term (In years) Aggregate Intrinsic Value Outstanding at January 31, 2023 40 $ 10.85 1.1 $ 19 Exercised (1 ) 6.85 - 2 Expired or forfeited (17 ) 10.60 - - Outstanding and exercisable at October 31, 2023 22 $ 11.15 0.9 $ 1
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	Restricted Shares Weighted Average Price (Per share) Aggregate Intrinsic Value Outstanding at January 31, 2023 267 $ 8.55 $ 2,286 Granted 91 10.26 Vested and issued (84 ) 8.43 Forfeited or retired for taxes (47 ) 9.23 Outstanding at October 31, 2023 228 $ 9.35 $ 2,133

Note 8 - Earnings (Loss) Per _2

Note 8 - Earnings (Loss) Per Share (Tables)	9 Months Ended
	Oct. 31, 2023
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended October 31, Nine Months Ended October 31, 2023 2022 2023 2022 Basic weighted average common shares outstanding at October 31, 2023 7,955 8,004 7,996 8,096 Dilutive effect of equity compensation plans 66 142 110 142 Weighted average common shares outstanding assuming full dilution 8,021 8,146 8,106 8,238 Stock options and restricted stock not included in the computation of diluted earnings per share of common stock because the option exercise prices or grant date prices exceeded the average market prices of the common shares 122 105 18 105 Stock options and restricted stock with exercise prices or grant date prices below the average market prices 66 142 170 142 Net income attributable to common stock $ 1,935 $ 1,728 $ 1,834 $ 2,711 Earnings per share attributable to common stock Basic $ 0.24 $ 0.22 $ 0.23 $ 0.33 Diluted $ 0.24 $ 0.21 $ 0.23 $ 0.33

Note 10 - Leases (Tables)

Note 10 - Leases (Tables)	9 Months Ended
	Oct. 31, 2023
Notes Tables
Supplemental Balance Sheet Information Related to Leases [Table Text Block]	Operating and Finance leases: October 31, 2023 January 31, 2023 Finance leases assets: Property and Equipment - gross $ 940 $ 1,161 Accumulated depreciation and amortization (482 ) (700 ) Property and Equipment - net $ 458 $ 461 Finance lease liabilities: Finance lease liability short-term $ 31 $ 164 Total finance lease liabilities $ 117 $ 164 Operating lease assets: Operating lease ROU assets $ 6,376 $ 4,527 Operating lease liabilities: Operating lease liability short-term $ 920 $ 912 Operating lease liability long-term 6,143 4,252 Total operating lease liabilities $ 7,063 $ 5,164
Lease, Cost [Table Text Block]	Three Months Ended October 31, Nine Months Ended October 31, Lease costs Consolidated Statements of Operations Classification 2023 2022 2023 2022 Finance Lease Costs Amortization of ROU assets Cost of sales $ 37 $ 62 $ 121 $ 125 Interest on lease liabilities Interest expense 3 8 7 18 Operating lease costs Cost of sales, SG&A expenses 564 694 1,450 587 Short-term lease costs (1) Cost of sales, SG&A expenses 99 13 350 72 Sub-lease income SG&A expenses (20 ) (27 ) (61 ) (40 ) Total Lease costs $ 683 $ 750 $ 1,867 $ 762
Supplemental Cash Flow Information Related Leases [Table Text Block]	Nine Months Ended October 31, 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Financing cash outflows from finance leases $ 176 $ 251 Operating cash outflows from finance leases 7 24 Operating cash outflows from operating leases 1,399 1,377 ROU liabilities obtained in exchange for new lease obligations: Operating leases liabilities $ 3,615 $ - Nine Months Ended October 31, 2023 2022 ROU liabilities obtained in exchange for new lease obligations: Finance leases liabilities $ 139 $ - Operating leases liabilities 3,615 -
Weighted-average Lease Terms and Discount Rates [Table Text Block]	October 31, 2023 Weighted-average remaining lease terms (in years): Finance leases 3.3 Operating leases 14.9 Weighted-average discount rates: Finance leases 10.2 % Operating leases 8.9 %
Finance and Operating Lease, Liability, Maturity [Table Text Block]	Operating Leases Finance Leases For the three months ending January 31, 2024 $ 565 $ 9 For the year ending January 31, 2025 1,515 37 For the year ending January 31, 2026 1,349 37 For the year ending January 31, 2027 1,326 37 For the year ending January 31, 2028 1,273 9 For the year ending January 31, 2029 947 - Thereafter 7,465 - Total lease payments $ 14,440 $ 129 Less: amount representing interest (7,377 ) (12 ) Total lease liabilities at October 31, 2023 $ 7,063 $ 117

Note 11 - Restricted Cash (Tabl

Note 11 - Restricted Cash (Tables)	9 Months Ended
	Oct. 31, 2023
Notes Tables
Restrictions on Cash and Cash Equivalents [Table Text Block]	October 31, 2023 January 31, 2023 Cash and cash equivalents $ 6,021 $ 5,773 Restricted cash 1,387 1,020 Cash, cash equivalents and restricted cash shown in the statement of cash flows $ 7,408 $ 6,793

Note 14 - Treasury Stock (Table

Note 14 - Treasury Stock (Tables)	9 Months Ended
	Oct. 31, 2023
Notes Tables
Class of Treasury Stock [Table Text Block]	Period Total number of shares purchased Average price paid (per share) Total number of shares purchased as part of publicly announced plans or programs Approximate dollar value of shares that may yet be purchased under the plans or programs August 1, 2023 - August 31, 2023 62 $ 8.64 62 $ 91 September 1, 2023 - September 30, 2023 10 8.92 10 - October 1, 2023 - October 31, 2023 - - - - Total 72 72

Note 2 - Business Segment Rep_2

Note 2 - Business Segment Reporting (Details Textual)	9 Months Ended
	Oct. 31, 2023
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
	Sep. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Oct. 31, 2023 USD ($)	Oct. 31, 2022	Oct. 31, 2023 USD ($)	Oct. 31, 2022 USD ($)	Jan. 31, 2023	Oct. 01, 2023 USD ($)	Jul. 31, 2023 USD ($)	Dec. 31, 2015 USD ($)
Increase (Decrease) in Accounts Receivable					$ 5,377	$ 4,345
Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Number of Major Customers			1	0	0	0
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | One Customer [Member]
Concentration Risk, Percentage			14%
Accounts Receivable [Member] | Customer Concentration Risk [Member]
Number of Major Customers					2		1
Accounts Receivable [Member] | Customer Concentration Risk [Member] | One Customer [Member]
Concentration Risk, Percentage							12%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Two Customers [Member]
Concentration Risk, Percentage					24%
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Accounts Receivable, after Allowance for Credit Loss								$ 2,400		$ 41,900
Increase (Decrease) in Accounts Receivable	$ (400)	$ (900)			$ (39,500)
Accounts Receivable, Allowance for Credit Loss									$ 0
Financial Asset, Equal to or Greater than 90 Days Past Due [Member] | Other Noncurrent Assets [Member]
Accounts Receivable, after Allowance for Credit Loss, Noncurrent			$ 1,600		$ 1,600

Note 4 - Revenue Recognition (D

Note 4 - Revenue Recognition (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2023	Jan. 31, 2023
Costs Incurred for Uncompleted Contracts, Anticipated Collection Period (Year)	1 year
Unbilled Receivables, Current	$ 14,320	$ 11,634
Middle East [Member]
Unbilled Receivables, Current	$ 14,300	$ 11,600

Note 4 - Revenue Recognition -

Note 4 - Revenue Recognition - Revenues by Revenue Class (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2023	Oct. 31, 2022
Sales by product	$ 45,690	$ 37,903	$ 110,489	$ 106,128
Sales by product, percent	100%	100%	100%	100%
Product [Member] | Transferred at Point in Time [Member]
Sales by product	$ 2,553	$ 4,363	$ 7,541	$ 11,144
Sales by product, percent	5%	12%	7%	10%
Specialty Piping Systems And Coating [Member] | Transferred at Point in Time Using Input Method [Member]
Sales by product	$ 18,641	$ 12,593	$ 41,779	$ 35,918
Sales by product, percent	41%	33%	38%	34%
Specialty Piping Systems And Coating [Member] | Transferred at Point in Time Using Output Method [Member]
Sales by product	$ 24,496	$ 20,947	$ 61,169	$ 59,066
Sales by product, percent	54%	55%	55%	56%

Note 4 - Revenue Recognition _2

Note 4 - Revenue Recognition - Reconciliation of the Cost in Excess of Billings (Details) - USD ($) $ in Thousands	Oct. 31, 2023	Jan. 31, 2023
Costs incurred on uncompleted contracts	$ 22,560	$ 18,342
Estimated earnings	11,916	9,370
Earned revenue	34,476	27,712
Less billings to date	32,918	26,329
Costs in excess of billings, net	1,558	1,383
Contract assets: Costs and estimated earnings in excess of billings on uncompleted contracts	2,462	3,126
Contract liabilities: Billings in excess of costs and estimated earnings on uncompleted contracts	$ (904)	$ (1,743)

Note 5 - Income Taxes (Details

Note 5 - Income Taxes (Details Textual) - USD ($) $ in Millions	3 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Effective Income Tax Rate Reconciliation, Percent	31%	40%
Undistributed Earnings of Foreign Subsidiaries	$ 0.9

Note 6 - Impairment of Long-l_3

Note 6 - Impairment of Long-lived Assets (Details Textual)	Dec. 31, 2016
Perma-Pipe Canada, Ltd [Member]
Business Combination, Step Acquisition, Equity Interest in Acquiree, Including Subsequent Acquisition, Percentage	50%

Note 6 - Impairment of Long-l_4

Note 6 - Impairment of Long-lived Assets - Goodwill (Details) $ in Thousands	9 Months Ended
	Oct. 31, 2023 USD ($)
Goodwill	$ 2,227
Goodwill, foreign exchange change effect	(75)
Goodwill	$ 2,152

Note 7 - Stock-based Compensa_3

Note 7 - Stock-based Compensation (Details Textual) $ in Thousands	3 Months Ended	9 Months Ended
	Oct. 31, 2023 USD ($) shares	Oct. 31, 2023 USD ($) shares
Common Stock, Capital Shares Reserved for Future Issuance (in shares)	250,448	250,448
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)	0	0
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested, Number of Shares (in shares)		0
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures and Expirations in Period (in shares)		0
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares (in shares)	0	0
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures and Expirations in Period (in shares)		17,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $	$ 0	$ 0
Restricted Stock [Member]
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $	$ 1,300	$ 1,300
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)		2 years

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, 2023	Oct. 31, 2022	Oct. 31, 2023	Oct. 31, 2022
Restricted Stock [Member]
Stock-based compensation expense	$ 229	$ 243	$ 686	$ 763

Note 7 - Stock-based Compensa_5

Note 7 - Stock-based Compensation - Stock Option Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Oct. 31, 2023	Jan. 31, 2023
Expired or forfeited, options (in shares)	0
Share-Based Payment Arrangement, Option [Member]
Outstanding, options (in shares)	40
Outstanding, weighted average exercise price (in dollars per share)	$ 10.85
Outstanding, weighted average remaining contractual term (Year)	10 months 24 days	1 year 1 month 6 days
Outstanding, aggregate intrinsic value	$ 1	$ 19
Exercised, options (in shares)	(1)
Exercised, weighted average exercise price (in dollars per share)	$ 6.85
Exercised, aggregate intrinsic value	$ 2
Expired or forfeited, options (in shares)	(17)
Expired or forfeited, weighted average exercise price (in dollars per share)	$ 10.6
Outstanding, options (in shares)	22	40
Outstanding, weighted average exercise price (in dollars per share)	$ 11.15	$ 10.85

Note 7 - Stock-based Compensa_6

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, 2023	Jan. 31, 2023
Outstanding (in shares)	267
Outstanding, weighted average price (in dollars per share)	$ 8.55
Outstanding, aggregate intrinsic value	$ 2,133	$ 2,286
Granted (in shares)	91
Granted, weighted average price (in dollars per share)	$ 10.26
Vested and issued (in shares)	(84)
Vested and issued, weighted average price (in dollars per share)	$ 8.43
Forfeited or retired for taxes (in shares)	(47)
Forfeited or retired for taxes (in dollars per share)	$ 9.23
Outstanding (in shares)	228
Outstanding, weighted average price (in dollars per share)	$ 9.35

Note 8 - Earnings (Loss) Per _3

Note 8 - Earnings (Loss) Per Share - Summary of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Oct. 31, 2023	Jul. 31, 2023	Apr. 30, 2023	Oct. 31, 2022	Jul. 31, 2022	Apr. 30, 2022	Oct. 31, 2023	Oct. 31, 2022
Basic (in shares)	7,955			8,004			7,996	8,096
Dilutive effect of equity compensation plans (in shares)	66			142			110	142
Weighted average common shares outstanding assuming full dilution (in shares)	8,021			8,146			8,106	8,238
Stock options and restricted stock not included in the computation of diluted earnings per share of common stock because the option exercise prices or grant date prices exceeded the average market prices of the common shares (in shares)	122			105			18	105
Stock options and restricted stock with exercise prices or grant date prices below the average market prices (in shares)	66			142			170	142
Net income (loss)	$ 1,935	$ 1,022	$ (1,123)	$ 1,728	$ 1,868	$ (885)	$ 1,834	$ 2,711
Basic (in dollars per share)	$ 0.24			$ 0.22			$ 0.23	$ 0.33
Diluted (in dollars per share)	$ 0.24			$ 0.21			$ 0.23	$ 0.33

Note 9 - Debt (Details Textual)

Note 9 - Debt (Details Textual) $ in Thousands, ر.س in Millions, د.إ in Millions, ج.م. in Millions, $ in Millions					3 Months Ended	9 Months Ended
	Sep. 17, 2021 USD ($)	Apr. 14, 2021 USD ($)	Sep. 20, 2018 USD ($)	Jul. 28, 2016	Apr. 30, 2023	Oct. 31, 2023 USD ($)	Oct. 31, 2023 CAD ($)	Oct. 31, 2022 USD ($)	Oct. 31, 2023 AED (د.إ)	Oct. 31, 2023 EGP (ج.م.)	Oct. 01, 2023 USD ($)	May 31, 2023 SAR (ر.س)	Jan. 31, 2023 USD ($)	Nov. 30, 2022 USD ($)	Jun. 30, 2022	Mar. 31, 2022 USD ($)	Dec. 31, 2021 EGP (ج.م.)	Jun. 30, 2021 EGP (ج.م.)
Debt and Lease Obligation						$ 27,200							$ 24,300
Line of Credit, Current						6,702							4,387
Proceeds from Sale of Property, Plant, and Equipment, Total						0		$ 117
Long-term Debt, Current Maturities, Excluding North American Revolving Line						7,132							6,227
UNITED ARAB EMIRATES
Foreign Earnings Repatriated		$ 800
Land and Buildings in Lebanon, Tennessee [Member]
Lessee, Finance Lease, Term of Contract (Year)		15 years
Lessee, Finance Lease, Annual Rent Increase, Percentage		2%
Lessee, Finance Lease, Number of Options to Extend		4
Lessee, Finance Lease, Renewal Term (Year)		5 years
Lessee, Finance Lease, Discount Rate		8%
Finance Lease, Liability, Noncurrent						9,114							9,215
Mortgage Note Secured by Tennessee Manufacturing Facility [Member]
Repayments of Secured Debt		$ 900
Canadian Mortgage Note [Member]
Debt Instrument, Maturity Date				Dec. 23, 2042
Proceeds from Issuance of Secured Debt						$ 4,400	$ 6.1
Debt Instrument, Interest Rate, Effective Percentage						9.10%			9.10%	9.10%
Debt Issuance Costs, Net						$ 100							100
Land and Buildings in Lebanon, Tennessee [Member]
Disposal Group, Including Discontinued Operation, Consideration		10,400
Proceeds from Sale of Property, Plant, and Equipment, Total		$ 9,100
Maximum [Member]
Foreign Earnings Repatriated						100
Revolving Lines, North America [Member]
Debt Instrument, Term (Year)	5 years		3 years
Line of Credit Facility, Maximum Borrowing Capacity	$ 18,000		$ 18,000
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.25%
Line of Credit, Current						$ 6,700							4,400
Line of Credit Facility, Interest Rate at Period End						10%			10%	10%
Line of Credit Facility, Current Borrowing Capacity						$ 4,600							9,900
Revolving Lines, North America [Member] | North American Loan Parties [Member]
Line of Credit Facility, Capital Expenditures Restrictions	$ 5,000
Line of Credit Facility, Common Stock Repurchase Restrictions	$ 3,000
Line of Credit Facility, Fixed Charge Coverage Ratio Required	1.1				1.1
Line of Credit Facility, Covenant Terms, EBITDA Ratio, Minimum Undrawn Availability for Five Consecutive Days	$ 3,000
Line of Credit Facility, Covenant Terms, EBITDA Ratio, Minimum Undrawn Availability	$ 2,000
Line of Credit Facility, Default, Additional Interest Rate	2%
Revolving Lines, North America [Member] | Base Rate [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	1%
Revolving Lines, North America [Member] | Base Rate [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	1.50%
Revolving Lines, North America [Member] | Secured Overnight Financing Rate (SOFR) [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate	2%
Revolving Lines, North America [Member] | Secured Overnight Financing Rate (SOFR) [Member] | Minimum [Member] | Additional SOFR Adjustment Based on Interest Period [Member]
Debt Instrument, Basis Spread on Variable Rate	0.10%
Revolving Lines, North America [Member] | Secured Overnight Financing Rate (SOFR) [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate	2.50%
Revolving Lines, North America [Member] | Secured Overnight Financing Rate (SOFR) [Member] | Maximum [Member] | Additional SOFR Adjustment Based on Interest Period [Member]
Debt Instrument, Basis Spread on Variable Rate	0.25%
Foreign Revolving Lines [Member]
Line of Credit Facility, Maximum Borrowing Capacity						27,200
Line of Credit Facility, Guaranteed Amount											$ 100
Letters of Credit Outstanding, Amount						6,700
Proceeds from Issuance of Debt						9,500
Line of Credit Facility, Remaining Borrowing Capacity						13,700
Foreign Revolving Lines [Member] | Revolving Credit Lines Used by Middle Eastern Subsidiaries, 1 [Member]
Line of Credit Facility, Maximum Borrowing Capacity						$ 2,200			د.إ 8.0
Line of Credit Facility, Interest Rate at Period End						9%			9%	9%
Long-term Debt, Current Maturities, Excluding North American Revolving Line						$ 100							600
Foreign Revolving Lines [Member] | Revolving Credit Lines Used by Middle Eastern Subsidiaries, 2 [Member]
Line of Credit Facility, Maximum Borrowing Capacity						$ 5,300			د.إ 19.5
Line of Credit Facility, Interest Rate at Period End						9%			9%	9%
Long-term Debt, Current Maturities, Excluding North American Revolving Line						$ 1,300							1,100
Foreign Revolving Lines [Member] | Revolving Credit Lines Used by Egypt Subsidiaries [Member]
Line of Credit Facility, Maximum Borrowing Capacity						$ 3,200												ج.م. 100.0
Line of Credit Facility, Interest Rate at Period End						20.80%			20.80%	20.80%					8%
Long-term Debt, Current Maturities, Excluding North American Revolving Line						$ 1,600							3,100
Foreign Revolving Lines [Member] | Revolving Credit Lines Used by Egypt Subsidiaries 2 [Member]
Line of Credit Facility, Maximum Borrowing Capacity						$ 300				ج.م. 8.9				$ 0			ج.م. 28.2
Line of Credit Facility, Interest Rate at Period End						20.80%			20.80%	20.80%
Long-term Debt, Current Maturities, Excluding North American Revolving Line						$ 300							300
Foreign Revolving Lines [Member] | Revolving Credit Lines Used by Saudi Arabian Subsidiary [Member]
Line of Credit Facility, Maximum Borrowing Capacity						9,900										$ 37,000
Foreign Revolving Lines [Member] | Renewal of Revolving Credit Lines Used by Saudi Arabian Subsidiary [Member]
Line of Credit Facility, Maximum Borrowing Capacity						$ 9,900						ر.س 37
Line of Credit Facility, Interest Rate at Period End						9.50%			9.50%	9.50%
Long-term Debt, Current Maturities, Excluding North American Revolving Line						$ 3,800							$ 1,100
Foreign Revolving Lines [Member] | Minimum [Member]
Line of Credit Facility, Interest Rate at Period End						8%			8%	8%
Debt Instrument, Interest Rate, Stated Percentage						4.50%			4.50%	4.50%
Foreign Revolving Lines [Member] | Maximum [Member]
Line of Credit Facility, Interest Rate at Period End						20.80%			20.80%	20.80%
Foreign Revolving Lines [Member] | Weighted Average [Member]
Line of Credit Facility, Interest Rate at Period End						12.10%			12.10%	12.10%
Foreign Revolving Lines [Member] | EIBOR [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate						3%	3%
Foreign Revolving Lines [Member] | EIBOR [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate						3.50%	3.50%
Foreign Revolving Lines [Member] | Central Bank of Eqypt (CBE) Rate [Member] | Minimum [Member]
Debt Instrument, Basis Spread on Variable Rate						1.50%	1.50%
Foreign Revolving Lines [Member] | Central Bank of Eqypt (CBE) Rate [Member] | Maximum [Member]
Debt Instrument, Basis Spread on Variable Rate						3.50%	3.50%
Foreign Revolving Lines [Member] | SIBOR [Member]
Debt Instrument, Basis Spread on Variable Rate						3.50%	3.50%

Note 10 - Leases (Details Textu

Note 10 - Leases (Details Textual) $ in Thousands, د.إ in Millions	3 Months Ended		12 Months Ended
	Oct. 31, 2023 USD ($)	Oct. 31, 2022 USD ($)	Jan. 31, 2023 USD ($)	Jan. 31, 2023 AED (د.إ)
Operating Lease, Liability	$ 7,063		$ 5,164
Operating Lease, Right-of-Use Asset	6,376		4,527
Finance Lease, Right-of-Use Asset, after Accumulated Amortization	500
Operating Lease, Expense	700	$ 700
Current Maturities of Long-term Debt [Member]
Finance Lease, Liability, Current	$ 100
Minimum [Member]
Lessee, Operating Lease, Term of Contract (Year)	1 year
Maximum [Member]
Lessee, Operating Lease, Term of Contract (Year)	30 years
Abu Dhabi Land Lease [Member]
Lessee, Operating Lease, Annual Payment			300	د.إ 1.2
Decrease in Operating Lease Liability, Current	$ 300
Decrease in Operating Lease Liability, Noncurrent	4,000
Decrease in Operating Lease Right-of-use Asset	$ 3,600
Decrease in Operating Lease Expense			$ 1,100

Note 10 - Leases - Supplemental

Note 10 - Leases - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Oct. 31, 2023	Jan. 31, 2023
Property and Equipment - net	$ 35,851	$ 26,518
Total finance lease liabilities	117	164
Operating Lease, Right-of-Use Asset	6,376	4,527
Operating lease liability short-term	920	912
Operating lease liability long-term	6,143	4,252
Total operating lease liabilities	7,063	5,164
Other Current Liabilities [Member]
Finance lease liability short-term	31	164
Operating lease liability short-term	920	912
Other Noncurrent Liabilities [Member]
Operating lease liability long-term	6,143	4,252
Finance Leases Assets [Member]
Property and Equipment - gross	940	1,161
Accumulated depreciation and amortization	(482)	(700)
Property and Equipment - net	$ 458	$ 461

Note 10 - Leases - Lease Costs

Note 10 - Leases - Lease Costs (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2023	Oct. 31, 2022
Amortization of ROU assets		$ 37	$ 62	$ 121	$ 125
Interest on lease liabilities		3	8	7	18
Operating lease costs		564	694	1,450	587
Short-term lease costs (1)	[1]	99	13	350	72
Sub-lease income		(20)	(27)	(61)	(40)
Total Lease costs		$ 683	$ 750	$ 1,867	$ 762
[1]Includes variable lease costs, which are immaterial.

Note 10 - Leases - Supplement_2

Note 10 - Leases - Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2023	Oct. 31, 2022
Operating cash outflows from finance leases	$ 7	$ 24
Operating cash outflows from operating leases	1,399	1,377
Operating leases liabilities	3,615	0
Finance leases liabilities	139	0
Finance Lease Obligations [Member]
Financing cash outflows from finance leases	$ 176	$ 251

Note 10 - Leases - Weighted-ave

Note 10 - Leases - Weighted-average Lease Terms and Discount Rates (Details)	Oct. 31, 2023
Finance leases (Year)	3 years 3 months 18 days
Operating leases (Year)	14 years 10 months 24 days
Finance leases	10.20%
Operating leases	8.90%

Note 10 - Leases - Maturities o

Note 10 - Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Oct. 31, 2023	Jan. 31, 2023
For the three months ending January 31, 2024, operating leases	$ 565
For the three months ending January 31, 2024	9
For the year ending January 31, 2025, operating leases	1,515
For the year ending January 31, 2025	37
For the year ending January 31, 2026, operating leases	1,349
For the year ending January 31, 2026	37
For the year ending January 31, 2027, operating leases	1,326
For the year ending January 31, 2027	37
For the year ending January 31, 2028, operating leases	1,273
For the year ending January 31, 2028	9
For the year ending January 31, 2029, operating leases	947
For the year ending January 31, 2029	0
Thereafter, operating leases	7,465
Thereafter, finance leases	0
Total lease payments, operating leases	14,440
Total lease payments, finance leases	129
Less: amount representing interest, operating leases	(7,377)
Less: amount representing interest, finance leases	(12)
Total lease liabilities, operating leases	7,063	$ 5,164
Total lease liabilities, finance leases	$ 117	$ 164

Note 11 - Restricted Cash - Sum

Note 11 - Restricted Cash - Summary of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Oct. 31, 2023	Jan. 31, 2023
Cash and cash equivalents	$ 6,021	$ 5,773
Restricted cash	1,387	1,020
Cash, cash equivalents and restricted cash shown in the statement of cash flows	$ 7,408	$ 6,793

Note 14 - Treasury Stock (Detai

Note 14 - Treasury Stock (Details Textual) - USD ($) $ in Millions	Jul. 26, 2022	Oct. 31, 2023	Dec. 07, 2022	Oct. 04, 2021
Stock Repurchase Program, Authorized Amount			$ 1	$ 3
Stock Repurchase Program, Authorized Repurchase Amount Used		$ 0.6
Treasury Stock, Shares, Retired (in shares)	239,168

Note 14 - Treasury Stock - Repu

Note 14 - Treasury Stock - Repurchases of Common Stock (Details) - $ / shares	1 Months Ended			3 Months Ended
	Oct. 31, 2023	Sep. 30, 2023	Aug. 31, 2023	Oct. 31, 2023
Total number of shares purchased (in shares)	0	10	62	72
Average price paid per share (in dollars per share)	$ 0	$ 8.92	$ 8.64
Approximate dollar value of shares that may yet be purchased under the plans or programs (in shares)	0	0	91	0
Publicly Announced Share Repurchase Program [Member]
Total number of shares purchased (in shares)	0	10	62	72

Note 15 - Noncontrolling Inte_2

Note 15 - Noncontrolling Interests (Details Textual) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
	Jun. 01, 2023	Oct. 31, 2023	Oct. 31, 2022	Oct. 31, 2023	Oct. 31, 2022	Jan. 31, 2023
Net Income (Loss) Attributable to Noncontrolling Interest		$ 1,429	$ 0	$ 1,577	$ 0
Redeemable Noncontrolling Interest, Equity, Carrying Amount		4,156		4,156		$ 0
Gulf Insulation Group [Member]
Net Income (Loss) Attributable to Noncontrolling Interest		$ 1,400	$ 0	$ 1,600	$ 0
Related Party [Member]
Notes Payable	$ 2,700
Joint Venture [Member]
Subsidiary, Ownership Percentage, Parent	60%
Assets Transferred To Acquire Noncontrolling Interest	$ 2,700
Joint Venture [Member] | Gulf Insulation Group [Member]
Assets Transferred To Acquire Noncontrolling Interest	$ 2,700
Subsidiary, Ownership Percentage, Noncontrolling Owner	40%