MIND Technology (MIND) 10-Q 9 Dec 15 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Oct. 31, 2015	Dec. 08, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 31, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Trading Symbol	MIND
Entity Registrant Name	MITCHAM INDUSTRIES INC
Entity Central Index Key	926,423
Current Fiscal Year End Date	--01-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		12,090,476

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Oct. 31, 2015	Jan. 31, 2015
Current assets:
Cash and cash equivalents	$ 4,566	$ 5,175
Restricted cash		184
Accounts receivable, net	20,448	23,693
Contracts and notes receivable, net	2,951	3,639
Inventories, net	11,766	11,451
Prepaid income taxes	528	1,018
Deferred tax asset	2,480	2,427
Prepaid expenses and other current assets	2,814	6,562
Total current assets	45,553	54,149
Seismic equipment lease pool and property and equipment, net	78,578	100,087
Intangible assets, net	9,377	10,831
Goodwill	5,552	5,594
Deferred tax asset	13,900	8,922
Other assets	465	28
Total assets	153,425	179,611
Current liabilities:
Accounts payable	2,067	2,399
Current maturities - long-term debt	3,218	3,218
Deferred revenue	370	710
Accrued expenses and other current liabilities	5,053	3,673
Total current liabilities	10,708	10,000
Long-term debt, net of current maturities	9,191	23,137
Total liabilities	$ 19,899	$ 33,137
Shareholders' equity:
Preferred stock, $1.00 par value; 1,000 shares authorized; none issued and outstanding
Common stock, $0.01 par value; 20,000 shares authorized; 14,019 and 14,012 shares issued at October 31, 2015 and January 31, 2015, respectively	$ 140	$ 140
Additional paid-in capital	120,747	119,787
Treasury stock, at cost (1,928 shares at October 31, 2015 and January 31, 2015, respectively)	(16,854)	(16,851)
Retained earnings	40,026	51,924
Accumulated other comprehensive loss	(10,533)	(8,526)
Total shareholders' equity	133,526	146,474
Total liabilities and shareholders' equity	$ 153,425	$ 179,611

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Oct. 31, 2015	Jan. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	14,019,000	14,012,000
Treasury stock, shares	1,928,000	1,928,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2015	Oct. 31, 2014	Oct. 31, 2015	Oct. 31, 2014
Revenues:
Equipment leasing	$ 4,242	$ 14,285	$ 19,945	$ 38,672
Lease pool equipment sales	1,167	475	1,566	2,861
Seamap equipment sales	9,928	5,791	17,227	19,560
Other equipment sales	344	2,355	1,639	7,090
Total revenues	15,681	22,906	40,377	68,183
Cost of sales:
Direct costs - equipment leasing	1,174	2,343	3,593	4,700
Direct costs - lease pool depreciation	7,242	8,634	22,460	26,195
Cost of lease pool equipment sales	358	193	540	1,016
Cost of Seamap and other equipment sales	5,184	4,729	10,094	14,785
Total cost of sales	13,958	15,899	36,687	46,696
Gross profit	1,723	7,007	3,690	21,487
Operating expenses:
General and administrative	4,359	6,159	14,219	18,951
Contract settlement	2,142		2,142
Provision for doubtful accounts	600		1,200
Depreciation and amortization	600	654	1,868	1,566
Total operating expenses	7,701	6,813	19,429	20,517
Operating (loss) income	(5,978)	194	(15,739)	970
Other (expense) income:
Interest, net	(136)	(147)	(523)	(347)
Other, net	(445)	(387)	666	(140)
Total other (expense) income	(581)	(534)	143	(487)
(Loss) income before income taxes	(6,559)	(340)	(15,596)	483
Benefit (provision) for income taxes	746	(57)	3,698	(490)
Net loss	$ (5,813)	$ (397)	$ (11,898)	$ (7)
Net loss per common share:
Basic	$ (0.48)	$ (0.03)	$ (0.99)	$ 0
Diluted	$ (0.48)	$ (0.03)	$ (0.99)	$ 0
Shares used in computing net income per common share:
Basic	12,051	12,476	12,035	12,631
Diluted	12,051	12,476	12,035	12,631

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2015	Oct. 31, 2014	Oct. 31, 2015	Oct. 31, 2014
Statement of Comprehensive Income [Abstract]
Net loss	$ (5,813)	$ (397)	$ (11,898)	$ (7)
Change in cumulative translation adjustment	(361)	(2,160)	(2,007)	(613)
Comprehensive loss	$ (6,174)	$ (2,557)	$ (13,905)	$ (620)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2015	Oct. 31, 2014
Cash flows from operating activities:
Net loss	$ (11,898)	$ (7)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	24,432	27,866
Stock-based compensation	724	1,006
Provision for doubtful accounts, net of charge offs	1,200
Provision for inventory obsolescence	134	44
Gross profit from sale of lease pool equipment	(1,027)	(1,845)
Excess tax benefit from exercise of non-qualified stock options and restricted shares	(125)
Deferred tax benefit	(5,285)	(1,742)
Foreign exchange gains/losses	(532)
Changes in working capital items:
Accounts receivable	268	(1,076)
Contracts and notes receivable		(2,632)
Inventories	(982)	630
Prepaid expenses and other current assets	3,925	(7,449)
Income taxes payable	518	(331)
Accounts payable, accrued expenses, other current liabilities and deferred revenue	2,547	2,079
Net cash provided by operating activities	13,899	16,543
Cash flows from investing activities:
Purchases of seismic equipment held for lease	(2,128)	(15,079)
Acquisition of business		(14,500)
Purchases of property and equipment	(227)	(375)
Sale of used lease pool equipment	1,566	2,861
Net cash used in investing activities	(789)	(27,093)
Cash flows from financing activities:
Net (payments on) proceeds from revolving line of credit	(11,500)	2,500
(Payments on) proceeds from term loan and other borrowings	(2,413)	9,926
Net proceeds from short-term investments	182	85
Proceeds from issuance of common stock upon exercise of options		99
Purchase of treasury stock	(3)	(9,776)
Excess tax benefit from exercise of non-qualified stock options and restricted shares	125
Net cash (used in) provided by financing activities	(13,609)	2,834
Effect of changes in foreign exchange rates on cash and cash equivalents	(110)	1,623
Net change in cash and cash equivalents	(609)	(6,093)
Cash and cash equivalents, beginning of period	5,175	15,162
Cash and cash equivalents, end of period	4,566	9,069
Supplemental cash flow information:
Interest paid	538	576
Income taxes paid	1,405	836
Purchases of seismic equipment held for lease in accounts payable at end of period	$ 8	$ 3,438

Organization

Organization	9 Months Ended
	Oct. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	1. Organization Mitcham Industries, Inc. (for purposes of these notes, the “Company”) was incorporated in Texas in 1987. The Company, through its wholly-owned Canadian subsidiary, Mitcham Canada, ULC. (“MCL”), its wholly-owned Russian subsidiary, Mitcham Seismic Eurasia LLC (“MSE”), its wholly-owned Hungarian subsidiary, Mitcham Europe Ltd. (“MEL”), its wholly-owned Singaporean subsidiary, Mitcham Marine Leasing Pte Ltd. (“MML”), and its branch operations in Colombia and Peru, provides full-service equipment leasing, sales and service to the seismic industry worldwide. The Company, through its wholly-owned Australian subsidiary, Seismic Asia Pacific Pty Ltd. (“SAP”), provides seismic, oceanographic and hydrographic leasing and sales worldwide, primarily in Southeast Asia and Australia. The Company, through its wholly-owned subsidiary, Seamap International Holdings Pte, Ltd. (“Seamap”), designs, manufactures and sells a broad range of proprietary products for the seismic, hydrographic and offshore industries, with manufacturing, support and sales facilities based in Singapore and the United Kingdom. All material intercompany transactions and balances have been eliminated in consolidation.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Oct. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	2. Basis of Presentation The condensed consolidated balance sheet as of January 31, 2015 for the Company has been derived from audited consolidated financial statements. The unaudited interim condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the related notes included in the Company’s Annual Report on Form 10-K for the year ended January 31, 2015. In the opinion of the Company, all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the financial position as of October 31, 2015, the results of operations for the three and nine months ended October 31, 2015 and 2014, and the cash flows for the nine months ended October 31, 2015 and 2014, have been included in these financial statements. The foregoing interim results are not necessarily indicative of the results of operations to be expected for the full fiscal year ending January 31, 2016.

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Oct. 31, 2015
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	3. New Accounting Pronouncements In September 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-16, Business Combinations: (Topic 805) In August 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-15, Interest-Imputation of Interest: (Subtopic 835-30) In July 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-11, Inventory: (Topic 330) In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers: (Topic 606)

Restricted Cash

Restricted Cash	9 Months Ended
	Oct. 31, 2015
Cash and Cash Equivalents [Abstract]
Restricted Cash	4. Restricted Cash As of January 31, 2015, Seamap had pledged approximately $184,000 in short-term time deposits to secure performance obligations in connection with certain contracts. As of October 31, 2015, the amount of security had been released as the contractual obligations had been fulfilled. As these investments in short-term time deposits relate to financing activities, the securing of contract obligations, these transactions are reflected as financing activities in the accompanying condensed consolidated statements of cash flows.

Balance Sheet

Balance Sheet	9 Months Ended
	Oct. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet	5. Balance Sheet October 31, January 31, 2015 (in thousands) Accounts receivable: Accounts receivable $ 25,940 $ 30,032 Allowance for doubtful accounts (5,492 ) (6,339 ) Total accounts receivable, net $ 20,448 $ 23,693 Contracts and notes receivable consisted of $3.2 million, due from three customers as of October 31, 2015 and $3.6 million due from three customers as of January 31, 2015. Notes receivable of $2.4 million at October 31, 2015 relate to promissory notes issued by a customer in settlement of a trade account receivable. The balance of contracts receivable at October 31, 2015 and January 31, 2015 consisted of contracts bearing interest at an average of approximately 2.2% and 1.9% respectively and with remaining repayment terms from one to ten months at October 31, 2015 . October 31, January 31, (in thousands) Inventories: Raw materials $ 5,978 $ 6,718 Finished goods 5,631 4,466 Work in progress 1,045 1,017 12,654 12,201 Less allowance for obsolescence (888 ) (750 ) Total inventories, net $ 11,766 $ 11,451 October 31, January 31, 2014 (in thousands) Seismic equipment lease pool and property and equipment: Seismic equipment lease pool $ 235,857 $ 243,211 Land and buildings 366 366 Furniture and fixtures 9,412 9,399 Autos and trucks 690 722 246,325 253,698 Accumulated depreciation and amortization (167,747 ) (153,611 ) Total seismic equipment lease pool and property and equipment, net $ 78,578 $ 100,087

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Oct. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	6. Goodwill and Other Intangible Assets Weighted October 31, 2015 January 31, 2015 Gross Carrying Accumulated Net Gross Accumulated Net Carrying (in thousands) (in thousands) Goodwill $ 5,552 $ 5,594 Proprietary rights 7.1 $ 6,139 $ (2,613 ) $ 3,526 $ 6,121 $ (2,240 ) 3,881 Customer relationships 5.1 6,404 (2,169 ) 4,235 6,613 (1,583 ) 5,030 Patents 5.9 2,171 (710 ) 1,461 2,243 (505 ) 1,738 Trade name 6.1 276 (121 ) 155 284 (102 ) 182 Amortizable intangible assets $ 14,990 $ (5,613 ) $ 9,377 $ 15,261 $ (4,430 ) $ 10,831 As of October 31, 2015, the Company had goodwill of $5.6 million, all of which was allocated to the Seamap segment. No impairment was recorded against the goodwill account during the nine months ended October 31, 2015. Amortizable intangible assets are amortized over their estimated useful lives of eight to 15 years using the straight-line method. Aggregate amortization expense was $413,000 and $458,000 for the three months ended October 31, 2015 and 2014, respectively, and $1.3 million and $982,000 for the nine months ended October 31, 2015 and 2014, respectively. As of October 31, 2015, future estimated amortization expense related to amortizable intangible assets was estimated to be: For fiscal years ending January 31 (in thousands): 2016 $ 413 2017 1,611 2018 1,618 2019 1,275 2020 1,275 2021 and thereafter 3,185 Total $ 9,377

Long-Term Debt and Notes Payabl

Long-Term Debt and Notes Payable	9 Months Ended
	Oct. 31, 2015
Debt Disclosure [Abstract]
Long-Term Debt and Notes Payable	7. Long-Term Debt and Notes Payable Long-term debt and notes payable consisted of the following (in thousands): October 31, January 31, Revolving line of credit $ 5,500 $ 17,000 Term credit facility 6,800 9,200 Other equipment notes 109 155 12,409 26,355 Less current portion (3,218 ) (3,218 ) Long-term debt $ 9,191 $ 23,137 On August 2, 2013, the Company entered into a $50.0 million, three-year revolving credit facility, as described below (the “Credit Agreement”). The Credit Agreement replaced a predecessor revolving credit facility with First Victoria National Bank. The Credit Agreement is a three-year, secured revolving facility in the maximum principal amount of $50.0 million, among the Company, as borrower, HSBC Bank USA, N.A. (“HSBC”), as administrative agent and several banks and other financial institutions from time to time as lenders thereunder (initially consisting of HSBC and First Victoria National Bank). Amounts available for borrowing under the Credit Agreement are determined by a borrowing base. The borrowing base is determined primarily based upon the appraised value of the Company’s domestic lease pool equipment and certain accounts receivable. The Credit Agreement is collateralized by essentially all of the Company’s domestic assets (other than real estate) and 65% of the capital stock of Mitcham Holdings, Ltd., a foreign holding company that holds the capital stock of the Company’s foreign subsidiaries. The Credit Agreement provides interest at a base rate, or for Eurodollar borrowings, in both cases plus an applicable margin. As of October 31, 2015, the base rate margin was 175 basis points and the Eurodollar margin was 275 basis points. The Company has agreed to pay a commitment fee on the unused portion of the Credit Agreement of 0.375% to 0.5%. Up to $10.0 million of available borrowings under the Credit Agreement may be utilized to secure letters of credit. The Credit Agreement contains certain financial covenants that require, among other things, that the Company maintain a leverage ratio, which is calculated at the end of each quarter, of no greater than 2.00 to 1.00 on a trailing four quarter basis and a fixed charge coverage ratio, which also is calculated at the end of each quarter, of no less than 1.25 to 1.00 on a trailing four quarter basis. In addition, should Adjusted EBITDA, as defined in the Credit Agreement, for any trailing four quarter period be less than $22.0 million, the ratio of capital expenditures to Adjusted EBITDA for that four quarter period may not be greater than 1.0 to 1.0. The Credit Agreement also includes restrictions on additional indebtedness in excess of $5.0 million. The Company was in compliance with each of these provisions as of and for the nine months ended October 31, 2015. The Credit Agreement contains customary representations, warranties, conditions precedent to credit extensions, affirmative and negative covenants and events of default. The negative covenants include restrictions on liens, additional indebtedness in excess of $5.0 million, acquisitions, fundamental changes, dispositions of property, restricted payments, and transactions with affiliates and lines of business. The events of default include a change in control provision. In December 2015 the Company and HSBC entered into an amendment to the Credit Agreement (the “Third Amendment”). Pursuant to the terms of the Third Amendment (a) the maturity of the Credit Agreement was extended to August 31, 2017 from August 2, 2016; (b) the maximum available under the Credit Agreement was reduced to $40.0 million from $50.0 million and (c) the definition of Adjusted EBITDA was amended to exclude up to $1.8 million of charges related to the termination of the employment agreement of the Company’s late President and Chief Executive Officer. The Third Amendment also imposes certain restrictions on the use of proceeds of the Credit Agreement in countries subject to economic sanctions by the United States and other countries, including those imposed on Russia. As the maturity of the Credit Facility has been extended to August 31, 2017, borrowings outstanding under the Credit Agreement have been classified as long-term debt in the accompanying condensed consolidated balance sheet as of October 31, 2015. On August 22, 2014, the Company’s wholly-owned subsidiary, Seamap Pte Ltd. (“Seamap Singapore”), entered into a $15.0 million credit facility (the “Seamap Credit Facility”) with The Hongkong and Shanghai Banking Corporation Limited (“HSBC-Singapore”). The facility consists of a $10.0 million term loan, a $3.0 million revolving credit facility, and a $2.0 million banker’s guarantee facility. The term loan portion of the Seamap Credit Facility provides for eleven quarterly principal payments of $800,000 and a final payment of the remaining $1.2 million on or before August 22, 2017. Interest on the term facility is payable quarterly at LIBOR plus 2.75%. Under the Seamap Credit Facility, Seamap may borrow up to $3.0 million for a period of one to three months to be utilized for working capital and other general corporate purposes. Borrowings under the revolving credit facility bear interest at LIBOR plus 3.00%. Borrowings under this arrangement are secured by essentially all of the assets of Seamap Singapore and the Company’s guarantee. The Seamap Credit Facility contains financial covenants that require Seamap to maintain a minimum shareholder’s equity of S$15 million and a minimum ratio of EBITDA to debt of not less than 125% for each fiscal year. The Company was in compliance with each of these provisions as of October 31, 2015. The Seamap Credit Facility contains customary representations and warranties, conditions precedent to credit extensions, affirmative and negative covenants and events of default. The negative covenants include restrictions on liens, additional indebtedness, acquisitions, fundamental changes, dispositions of property, restricted payments, and transactions with affiliates. The Seamap Credit Facility also requires the Company, as guarantor, to comply with financial covenants contained in the Credit Agreement. The Company’s average borrowings under the Credit Agreement, the predecessor revolving credit facility and the Seamap Credit Facility for the nine months ended October 31, 2015 and 2014 were approximately $18.3 million and $24.2 million, respectively. From time to time, certain subsidiaries have entered into notes payable to finance the purchase of certain equipment, which are pledged as security for the notes payable.

Income Taxes

Income Taxes	9 Months Ended
	Oct. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	8. Income Taxes Prepaid taxes of approximately $528,000 at October 31, 2015 consisted of approximately $440,000 of foreign taxes and approximately $88,000 of domestic federal and state taxes. Prepaid income taxes of approximately $1.0 million at January 31, 2015 consisted of approximately $900,000 of foreign taxes and approximately $100,000 of domestic federal and state taxes. The Company and its subsidiaries file consolidated and separate income tax returns in the United States federal jurisdiction and in foreign jurisdictions. The Company is subject to United States federal income tax examinations for all tax years beginning with its fiscal year ended January 31, 2013. The Company is subject to examination by taxing authorities throughout the world, including foreign jurisdictions such as Australia, Canada, Colombia, Hungary, Peru, Russia, Singapore and the United Kingdom. With few exceptions, the Company and its subsidiaries are no longer subject to foreign income tax examinations for tax years before 2010. The provision for income taxes for the three and nine months ended October 31, 2015 includes certain foreign withholding taxes. These taxes can distort the relationship between income or loss before income taxes and the provision for income taxes. Also, a valuation against the deferred tax assets of the Company for approximately $867,000 and $1.1 million has been recorded for the three and nine months ended October 31, 2015, respectively. This valuation is the result of net operating losses in Canada and the United Kingdom and foreign tax credits in Canada which are not expected to be utilized within the carryover periods. Accordingly, the effective tax rates for these periods differ significantly from the federal statutory rate of 34%. The Company has determined that earnings from certain foreign jurisdictions have been permanently reinvested outside of the United States. In the nine months ended October 31, 2015, the Company recognized tax benefits of approximately $92,000 related to the resolution of uncertain tax positions and reversed approximately $144,000 of penalties and interest related to these matters.

Earnings per Share

Earnings per Share	9 Months Ended
	Oct. 31, 2015
Earnings Per Share [Abstract]
Earnings per Share	9. Earnings per Share Net income per basic common share is computed using the weighted average number of common shares outstanding during the period, excluding unvested restricted stock. Net income per diluted common share is computed using the weighted average number of common shares and dilutive potential common shares outstanding during the period using the treasury stock method. Potential common shares result from the assumed exercise of outstanding common stock options having a dilutive effect and from the assumed vesting of unvested shares of restricted stock. The following table presents the calculation of basic and diluted weighted average common shares used in the earnings per share calculation: Three Months Ended Nine Months Ended 2015 2014 2015 2014 (in thousands) (in thousands) Basic weighted average common shares outstanding 12,051 12,476 12,035 12,631 Stock options — 194 17 267 Unvested restricted stock 54 21 42 27 Total weighted average common share equivalents 54 215 59 294 Diluted weighted average common shares outstanding 12,105 12,691 12,094 12,925 For the three and nine months ended October 31, 2015 and 2014, potentially dilutive common shares underlying stock options and unvested restricted stock were anti-dilutive and were therefore not considered in calculating diluted loss per share for that period.

Treasury Stock

Treasury Stock	9 Months Ended
	Oct. 31, 2015
Equity [Abstract]
Treasury Stock	10. Treasury Stock In April 2013, the Company’s Board of Directors authorized the repurchase of up to 1.0 million shares of the Company’s common stock through December 31, 2014. These shares are reflected as treasury stock in the accompanying financial statements. As of January 31, 2015, the Company has purchased a total of 1.0 million shares under this program, representing the total amount of shares authorized for repurchase. In the fourth quarter of our fiscal year ended January 31, 2015 (“fiscal 2015”), the Company’s Board of Directors authorized the repurchase of up to an additional 1.0 million shares of our common stock. As of December 8, 2015, we had not purchased any shares pursuant to this additional authorization.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Oct. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	11. Stock-Based Compensation Total compensation expense recognized for stock-based awards granted under the Company’s equity incentive plan during the three and nine months ended October 31, 2015 was approximately $565,000 and $1.1 million ($360,000 of these amounts is included in Contract settlement expense), respectively, and, during the three and nine months ended October 31, 2014 was approximately $310,000 and $1.0 million, respectively.

Segment Reporting

Segment Reporting	9 Months Ended
	Oct. 31, 2015
Segment Reporting [Abstract]
Segment Reporting	12. Segment Reporting The Equipment Leasing segment offers new and “experienced” seismic equipment for lease or sale to the oil and gas industry, seismic contractors, environmental agencies, government agencies and universities. The Equipment Leasing segment is headquartered in Huntsville, Texas, with sales and services offices in Calgary, Canada; Brisbane, Australia; Ufa, Bashkortostan, Russia; Budapest, Hungary; Singapore; Bogota, Colombia; and Lima, Peru. The Seamap segment is engaged in the design, manufacture and sale of state-of-the-art seismic and offshore telemetry systems. Manufacturing, support and sales facilities are maintained in the United Kingdom and Singapore. Financial information by business segment is set forth below (net of any allocations): As of October 31, 2015 As of January 31, 2015 Total Assets Total Assets (in thousands) Equipment Leasing $ 121,181 $ 148,985 Seamap 32,503 30,982 Eliminations (259 ) (356 ) Consolidated $ 153,425 $ 179,611 Results for the three months ended October 31, 2015 and 2014 were as follows (in thousands): Revenues Operating (loss) income (Loss) income before taxes 2015 2014 2015 2014 2015 2014 Equipment Leasing $ 5,753 $ 17,115 $ (9,015 ) $ (188 ) $ (9,563 ) $ (1,071 ) Seamap 9,975 5,827 3,001 337 2,968 686 Eliminations (47 ) (36 ) 36 45 36 45 Consolidated $ 15,681 $ 22,906 $ (5,978 ) $ 194 $ (6,559 ) $ (340 ) Results for the nine months ended October 31, 2015 and 2014 were as follows (in thousands): Revenues Operating (loss) income (Loss) income before taxes 2015 2014 2015 2014 2015 2014 Equipment Leasing $ 23,150 $ 48,623 $ (17,884 ) $ (1,737 ) $ (17,682 ) $ (2,303 ) Seamap 17,363 20,032 2,039 2,827 1,980 2,906 Eliminations (136 ) (472 ) 106 (120 ) 106 (120 ) Consolidated $ 40,377 $ 68,183 $ (15,739 ) $ 970 $ (15,596 ) $ 483 Sales from the Seamap segment to the Equipment Leasing segment are eliminated in the consolidated revenues. Consolidated income before taxes reflects the elimination of profit from intercompany sales and depreciation expense on the difference between the sales price and the cost to manufacture the equipment. Fixed assets are reduced by the difference between the sales price and the cost to manufacture the equipment, less the accumulated depreciation related to the difference.

Organization (Policies)

Organization (Policies)	9 Months Ended
	Oct. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Mitcham Industries, Inc. (for purposes of these notes, the “Company”) was incorporated in Texas in 1987. The Company, through its wholly-owned Canadian subsidiary, Mitcham Canada, ULC. (“MCL”), its wholly-owned Russian subsidiary, Mitcham Seismic Eurasia LLC (“MSE”), its wholly-owned Hungarian subsidiary, Mitcham Europe Ltd. (“MEL”), its wholly-owned Singaporean subsidiary, Mitcham Marine Leasing Pte Ltd. (“MML”), and its branch operations in Colombia and Peru, provides full-service equipment leasing, sales and service to the seismic industry worldwide. The Company, through its wholly-owned Australian subsidiary, Seismic Asia Pacific Pty Ltd. (“SAP”), provides seismic, oceanographic and hydrographic leasing and sales worldwide, primarily in Southeast Asia and Australia. The Company, through its wholly-owned subsidiary, Seamap International Holdings Pte, Ltd. (“Seamap”), designs, manufactures and sells a broad range of proprietary products for the seismic, hydrographic and offshore industries, with manufacturing, support and sales facilities based in Singapore and the United Kingdom. All material intercompany transactions and balances have been eliminated in consolidation.
Basis of Presentation	Basis of Presentation The condensed consolidated balance sheet as of January 31, 2015 for the Company has been derived from audited consolidated financial statements. The unaudited interim condensed consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the related notes included in the Company’s Annual Report on Form 10-K for the year ended January 31, 2015. In the opinion of the Company, all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the financial position as of October 31, 2015, the results of operations for the three and nine months ended October 31, 2015 and 2014, and the cash flows for the nine months ended October 31, 2015 and 2014, have been included in these financial statements. The foregoing interim results are not necessarily indicative of the results of operations to be expected for the full fiscal year ending January 31, 2016.
New Accounting Pronouncements	New Accounting Pronouncements In September 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-16, Business Combinations: (Topic 805) In August 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-15, Interest-Imputation of Interest: (Subtopic 835-30) In July 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2015-11, Inventory: (Topic 330) In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers: (Topic 606)

Balance Sheet (Tables)

Balance Sheet (Tables)	9 Months Ended
	Oct. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts Receivable	October 31, January 31, 2015 (in thousands) Accounts receivable: Accounts receivable $ 25,940 $ 30,032 Allowance for doubtful accounts (5,492 ) (6,339 ) Total accounts receivable, net $ 20,448 $ 23,693
Schedule of Inventories	October 31, January 31, (in thousands) Inventories: Raw materials $ 5,978 $ 6,718 Finished goods 5,631 4,466 Work in progress 1,045 1,017 12,654 12,201 Less allowance for obsolescence (888 ) (750 ) Total inventories, net $ 11,766 $ 11,451
Schedule of Seismic Equipment Lease Pool and Property and Equipment	October 31, January 31, 2014 (in thousands) Seismic equipment lease pool and property and equipment: Seismic equipment lease pool $ 235,857 $ 243,211 Land and buildings 366 366 Furniture and fixtures 9,412 9,399 Autos and trucks 690 722 246,325 253,698 Accumulated depreciation and amortization (167,747 ) (153,611 ) Total seismic equipment lease pool and property and equipment, net $ 78,578 $ 100,087

Goodwill and Other Intangible21

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Oct. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Weighted October 31, 2015 January 31, 2015 Gross Carrying Accumulated Net Gross Accumulated Net Carrying (in thousands) (in thousands) Goodwill $ 5,552 $ 5,594 Proprietary rights 7.1 $ 6,139 $ (2,613 ) $ 3,526 $ 6,121 $ (2,240 ) 3,881 Customer relationships 5.1 6,404 (2,169 ) 4,235 6,613 (1,583 ) 5,030 Patents 5.9 2,171 (710 ) 1,461 2,243 (505 ) 1,738 Trade name 6.1 276 (121 ) 155 284 (102 ) 182 Amortizable intangible assets $ 14,990 $ (5,613 ) $ 9,377 $ 15,261 $ (4,430 ) $ 10,831
Future Estimated Amortization Expense Related to Amortizable Intangible Assets	As of October 31, 2015, future estimated amortization expense related to amortizable intangible assets was estimated to be: For fiscal years ending January 31 (in thousands): 2016 $ 413 2017 1,611 2018 1,618 2019 1,275 2020 1,275 2021 and thereafter 3,185 Total $ 9,377

Long-Term Debt and Notes Paya22

Long-Term Debt and Notes Payable (Tables)	9 Months Ended
	Oct. 31, 2015
Debt Disclosure [Abstract]
Long-Term Debt and Notes Payable	Long-term debt and notes payable consisted of the following (in thousands): October 31, January 31, Revolving line of credit $ 5,500 $ 17,000 Term credit facility 6,800 9,200 Other equipment notes 109 155 12,409 26,355 Less current portion (3,218 ) (3,218 ) Long-term debt $ 9,191 $ 23,137

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Oct. 31, 2015
Earnings Per Share [Abstract]
Basic and Diluted Weighted Average Common Shares Used in Earnings Per Share Calculation	The following table presents the calculation of basic and diluted weighted average common shares used in the earnings per share calculation: Three Months Ended Nine Months Ended 2015 2014 2015 2014 (in thousands) (in thousands) Basic weighted average common shares outstanding 12,051 12,476 12,035 12,631 Stock options — 194 17 267 Unvested restricted stock 54 21 42 27 Total weighted average common share equivalents 54 215 59 294 Diluted weighted average common shares outstanding 12,105 12,691 12,094 12,925

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Oct. 31, 2015
Segment Reporting [Abstract]
Financial Information by Business Segment	Financial information by business segment is set forth below (net of any allocations): As of October 31, 2015 As of January 31, 2015 Total Assets Total Assets (in thousands) Equipment Leasing $ 121,181 $ 148,985 Seamap 32,503 30,982 Eliminations (259 ) (356 ) Consolidated $ 153,425 $ 179,611 Results for the three months ended October 31, 2015 and 2014 were as follows (in thousands): Revenues Operating (loss) income (Loss) income before taxes 2015 2014 2015 2014 2015 2014 Equipment Leasing $ 5,753 $ 17,115 $ (9,015 ) $ (188 ) $ (9,563 ) $ (1,071 ) Seamap 9,975 5,827 3,001 337 2,968 686 Eliminations (47 ) (36 ) 36 45 36 45 Consolidated $ 15,681 $ 22,906 $ (5,978 ) $ 194 $ (6,559 ) $ (340 ) Results for the nine months ended October 31, 2015 and 2014 were as follows (in thousands): Revenues Operating (loss) income (Loss) income before taxes 2015 2014 2015 2014 2015 2014 Equipment Leasing $ 23,150 $ 48,623 $ (17,884 ) $ (1,737 ) $ (17,682 ) $ (2,303 ) Seamap 17,363 20,032 2,039 2,827 1,980 2,906 Eliminations (136 ) (472 ) 106 (120 ) 106 (120 ) Consolidated $ 40,377 $ 68,183 $ (15,739 ) $ 970 $ (15,596 ) $ 483

Restricted Cash - Additional In

Restricted Cash - Additional Information (Detail)	Jan. 31, 2015USD ($)
Restricted Cash and Cash Equivalents Items [Line Items]
Short-term time deposits	$ 184,000
Seamap Singapore [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Short-term time deposits	$ 184,000

Balance Sheet - Accounts Receiv

Balance Sheet - Accounts Receivable (Detail) - USD ($) $ in Thousands	Oct. 31, 2015	Jan. 31, 2015
Accounts receivable:
Accounts receivable	$ 25,940	$ 30,032
Allowance for doubtful accounts	(5,492)	(6,339)
Total accounts receivable, net	$ 20,448	$ 23,693

Balance Sheet - Additional Info

Balance Sheet - Additional Information (Detail)	3 Months Ended	12 Months Ended
	Oct. 31, 2015USD ($)Customer	Jan. 31, 2015USD ($)Customer
Balance Sheet [Line Items]
Contracts and notes receivable	$ 2,951,000	$ 3,639,000
Contracts receivable, interest rate	2.20%	1.90%
Number of customers due | Customer	3	3
Allowance for contracts receivable	$ 250,000
Amount of contracts receivable past stated term	$ 830,000
Minimum [Member]
Balance Sheet [Line Items]
Contracts receivable repayment term	1 month
Maximum [Member]
Balance Sheet [Line Items]
Contracts receivable repayment term	10 months
Promissory Note [Member]
Balance Sheet [Line Items]
Contracts and notes receivable	$ 2,400,000

Balance Sheet - Schedule of Inv

Balance Sheet - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Oct. 31, 2015	Jan. 31, 2015
Inventories:
Raw materials	$ 5,978	$ 6,718
Finished goods	5,631	4,466
Work in progress	1,045	1,017
Cost of inventories	12,654	12,201
Less allowance for obsolescence	(888)	(750)
Total inventories, net	$ 11,766	$ 11,451

Balance Sheet - Schedule of Sei

Balance Sheet - Schedule of Seismic Equipment Lease Pool and Property and Equipment (Detail) - USD ($) $ in Thousands	Oct. 31, 2015	Jan. 31, 2015	Jan. 31, 2014
Seismic equipment lease pool and property and equipment:
Cost of property and equipment	$ 246,325		$ 253,698
Accumulated depreciation and amortization	(167,747)		(153,611)
Total seismic equipment lease pool and property and equipment, net	78,578	$ 100,087	100,087
Seismic Equipment Lease Pool [Member]
Seismic equipment lease pool and property and equipment:
Cost of property and equipment	235,857		243,211
Land and Buildings [Member]
Seismic equipment lease pool and property and equipment:
Cost of property and equipment	366		366
Furniture and Fixtures [Member]
Seismic equipment lease pool and property and equipment:
Cost of property and equipment	9,412		9,399
Autos and Trucks [Member]
Seismic equipment lease pool and property and equipment:
Cost of property and equipment	$ 690		$ 722

Goodwill and Other Intangible30

Goodwill and Other Intangible Assets - Goodwill and Other Intangible Assets (Detail) - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2015	Jan. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 5,552	$ 5,594
Gross Carrying Amount	14,990	15,261
Accumulated Amortization	(5,613)	(4,430)
Net Carrying Amount	$ 9,377	10,831
Proprietary Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life	7 years 1 month 6 days
Gross Carrying Amount	$ 6,139	6,121
Accumulated Amortization	(2,613)	(2,240)
Net Carrying Amount	$ 3,526	3,881
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life	5 years 1 month 6 days
Gross Carrying Amount	$ 6,404	6,613
Accumulated Amortization	(2,169)	(1,583)
Net Carrying Amount	$ 4,235	5,030
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life	5 years 10 months 24 days
Gross Carrying Amount	$ 2,171	2,243
Accumulated Amortization	(710)	(505)
Net Carrying Amount	$ 1,461	1,738
Trade Name [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life	6 years 1 month 6 days
Gross Carrying Amount	$ 276	284
Accumulated Amortization	(121)	(102)
Net Carrying Amount	$ 155	$ 182

Goodwill and Other Intangible31

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 31, 2015	Oct. 31, 2014	Oct. 31, 2015	Oct. 31, 2014	Jan. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 5,552,000		$ 5,552,000		$ 5,594,000
Goodwill impairment			0
Aggregate amortization expense	$ 413,000	$ 458,000	$ 1,300,000	$ 982,000
Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Useful life of intangible assets			15 years
Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Useful life of intangible assets			8 years

Goodwill and Other Intangible32

Goodwill and Other Intangible Assets - Future Estimated Amortization Expense Related to Amortizable Intangible Assets (Detail) - USD ($) $ in Thousands	Oct. 31, 2015	Jan. 31, 2015
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2,016	$ 413
2,017	1,611
2,018	1,618
2,019	1,275
2,020	1,275
2021 and thereafter	3,185
Net Carrying Amount	$ 9,377	$ 10,831

Long-Term Debt and Notes Paya33

Long-Term Debt and Notes Payable - Long-Term Debt and Notes Payable (Detail) - USD ($) $ in Thousands	Oct. 31, 2015	Jan. 31, 2015
Debt Instrument [Line Items]
Debt	$ 12,409	$ 26,355
Debt	12,409	26,355
Less current portion	(3,218)	(3,218)
Long-term debt	9,191	23,137
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt	5,500	17,000
Debt	5,500	17,000
Term Credit Facility [Member]
Debt Instrument [Line Items]
Debt	6,800	9,200
Debt	6,800	9,200
Other Equipment Notes [Member]
Debt Instrument [Line Items]
Debt	109	155
Debt	$ 109	$ 155

Long-Term Debt and Notes Paya34

Long-Term Debt and Notes Payable - Additional Information (Detail)	Aug. 02, 2013USD ($)	Dec. 31, 2015USD ($)	Oct. 31, 2015USD ($)	Oct. 31, 2014USD ($)	Aug. 22, 2014USD ($)
Line of Credit Facility [Line Items]
Line of credit agreement collateralized by percentage of own capital stock	65.00%
Leverage Ratio			2
Fixed charge coverage ratio			125.00%
Adjusted EBITDA			$ 22,000,000
Capital expenditures to adjusted EBITDA			1
Additional indebtedness			$ 5,000,000
London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Interest rate of borrowings			3.00%
Credit Agreement [Member]
Line of Credit Facility [Line Items]
Borrowings under the revolving credit facility	$ 50,000,000
Revolving credit facility expiration period	3 years
Credit Agreement [Member] | Base Rate [Member]
Line of Credit Facility [Line Items]
Credit Agreement basis points			1.75%
Credit Agreement [Member] | Eurodollar [Member]
Line of Credit Facility [Line Items]
Credit Agreement basis points			2.75%
Credit Agreement [Member] | Scenario, Forecast [Member]
Line of Credit Facility [Line Items]
Borrowings under the revolving credit facility		$ 50,000,000
Maturity of the credit agreement		Aug. 2, 2016
Credit Agreement [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Commitment fee on the unused portion of the Credit Agreement			0.375%
Credit Agreement [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Commitment fee on the unused portion of the Credit Agreement			0.50%
Available borrowings under the revolving credit facility to secure letters of credit			$ 10,000,000
Seamap Credit Facility [Member]
Line of Credit Facility [Line Items]
Borrowings under the revolving credit facility					$ 15,000,000
Minimum shareholder's equity			$ 15,000,000
Seamap Credit Facility [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Minimum ratio of debt to EBITDA			125.00%
Term Loan [Member]
Line of Credit Facility [Line Items]
Carrying value of debt					10,000,000
Frequency of periodic payments			The term loan portion of the Seamap Credit Facility provides for eleven quarterly principal payments of $800,000 and a final payment of the remaining $1.2 million on or before August 22, 2017.
Maturity period			Aug. 22, 2017
Principal payment of term loan portion			$ 800,000
Final payment of term portion			1,200,000
Term Loan [Member] | Seamap Singapore [Member]
Line of Credit Facility [Line Items]
Borrowings under the revolving credit facility			$ 3,000,000
Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Line of Credit Facility [Line Items]
Credit Agreement basis points			2.75%
Singapore Credit Facility Bankers Guarantees [Member]
Line of Credit Facility [Line Items]
Carrying value of debt					2,000,000
Third Amendment [Member] | Scenario, Forecast [Member]
Line of Credit Facility [Line Items]
Borrowings under the revolving credit facility		$ 40,000,000
Maturity of the credit agreement		Aug. 31, 2017
Third Amendment [Member] | Maximum [Member] | Scenario, Forecast [Member]
Line of Credit Facility [Line Items]
Charges related to the termination of the employment agreement		$ 1,800,000
Revolving Credit Facility [Member] | Term Loan [Member]
Line of Credit Facility [Line Items]
Borrowings under the revolving credit facility					$ 3,000,000
Revolving Credit Facility And Seamap Credit Facility [Member] | Credit Agreement [Member] | Predecessor [Member]
Line of Credit Facility [Line Items]
Average borrowings under the revolving credit facility			$ 18,300,000	$ 24,200,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Oct. 31, 2015	Oct. 31, 2015	Jan. 31, 2015
Income Tax Disclosure [Abstract]
Prepaid income taxes	$ 528,000	$ 528,000	$ 1,018,000
Prepaid foreign taxes	440,000	440,000	900,000
Prepaid domestic federal and state taxes	88,000	88,000	$ 100,000
Deferred tax asset	$ 867,000	$ 1,100,000
Federal statutory rate	34.00%	34.00%
Recognized tax benefits	$ 92,000	$ 92,000
Reversed potential penalties and interest		$ 144,000

Earnings per Share - Basic and

Earnings per Share - Basic and Diluted Weighted Average Common Shares Used in Earnings Per Share Calculation (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2015	Oct. 31, 2014	Oct. 31, 2015	Oct. 31, 2014
Earnings Per Share [Abstract]
Basic weighted average common shares outstanding	12,051	12,476	12,035	12,631
Stock options		194	17	267
Unvested restricted stock	54	21	42	27
Total weighted average common share equivalents	54	215	59	294
Diluted weighted average common shares outstanding	12,105	12,691	12,094	12,925

Treasury Stock - Additional Inf

Treasury Stock - Additional Information (Detail) - shares	12 Months Ended
	Jan. 31, 2015	Apr. 30, 2013
Equity, Class of Treasury Stock [Line Items]
Shares purchased under repurchase program	1,000,000
Maximum [Member]
Equity, Class of Treasury Stock [Line Items]
Number of shares authorized to repurchase	1,000,000	1,000,000

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 31, 2015	Oct. 31, 2014	Oct. 31, 2015	Oct. 31, 2014
Stock Based Compensation [Line Items]
Stock-based compensation	$ 565,000	$ 310,000	$ 724,000	$ 1,006,000
Contract Settlement Expense [Member]
Stock Based Compensation [Line Items]
Stock-based compensation	$ 360,000		$ 360,000

Segment Reporting - Financial I

Segment Reporting - Financial Information by Business Segment (Assets) (Detail) - USD ($) $ in Thousands	Oct. 31, 2015	Jan. 31, 2015
Segment Reporting Information [Line Items]
Total Assets	$ 153,425	$ 179,611
Operating Segments [Member] | Equipment Leasing [Member]
Segment Reporting Information [Line Items]
Total Assets	121,181	148,985
Operating Segments [Member] | Seamap [Member]
Segment Reporting Information [Line Items]
Total Assets	32,503	30,982
Eliminations [Member]
Segment Reporting Information [Line Items]
Total Assets	$ (259)	$ (356)

Segment Reporting - Financial40

Segment Reporting - Financial Information by Business Segment (Revenues) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2015	Oct. 31, 2014	Oct. 31, 2015	Oct. 31, 2014
Segment Reporting Information [Line Items]
Revenues	$ 15,681	$ 22,906	$ 40,377	$ 68,183
Operating (loss) income	(5,978)	194	(15,739)	970
(Loss) income before taxes	(6,559)	(340)	(15,596)	483
Operating Segments [Member] | Equipment Leasing [Member]
Segment Reporting Information [Line Items]
Revenues	5,753	17,115	23,150	48,623
Operating (loss) income	(9,015)	(188)	(17,884)	(1,737)
(Loss) income before taxes	(9,563)	(1,071)	(17,682)	(2,303)
Operating Segments [Member] | Seamap [Member]
Segment Reporting Information [Line Items]
Revenues	9,975	5,827	17,363	20,032
Operating (loss) income	3,001	337	2,039	2,827
(Loss) income before taxes	2,968	686	1,980	2,906
Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues	(47)	(36)	(136)	(472)
Operating (loss) income	36	45	106	(120)
(Loss) income before taxes	$ 36	$ 45	$ 106	$ (120)