MIND Technology (MIND) 10-Q 6 Dec 18 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Oct. 31, 2018	Dec. 04, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 31, 2018
Document Fiscal Year Focus	2,019
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	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		12,119,399
Entity Emerging Growth Company	false
Entity Small Business	true

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 31, 2018	Jan. 31, 2018
Current assets:
Cash and cash equivalents	$ 5,406	$ 9,902
Restricted cash	213	244
Accounts and contracts receivable, net of allowance for doubtful accounts of $3,108 and $3,885 at October 31, 2018 and January 31, 2018, respectively	17,440	10,494
Inventories, net	11,679	10,856
Prepaid expenses and other current assets	1,603	1,550
Total current assets	36,341	33,046
Seismic equipment lease pool and property and equipment, net	16,655	22,900
Intangible assets, net	10,911	8,015
Goodwill	2,531	2,531
Non-current prepaid income taxes	1,434	1,609
Deferred tax asset	58	0
Long-term receivables, net of allowance for doubtful accounts of $532 and $2,282 at October 31, 2018 and January 31, 2018, respectively	0	4,652
Other assets	609	926
Total assets	68,539	73,679
Current liabilities:
Accounts payable	2,096	1,271
Deferred revenue	156	741
Accrued expenses and other current liabilities	5,477	5,253
Income taxes payable	556	258
Total current liabilities	8,285	7,523
Deferred tax liability	0	307
Total liabilities	8,285	7,830
Shareholders’ equity:
Preferred stock, $1.00 par value; 1,000 shares authorized; 798 and 532 issued and outstanding at October 31, 2018 and January 31, 2018, respectively	17,612	11,544
Common stock, $0.01 par value; 20,000 shares authorized; 14,049 and 14,019 shares issued at October 31, 2018 and January 31, 2018, respectively	140	140
Additional paid-in capital	122,879	122,304
Treasury stock, at cost (1,929 shares at October 31, 2018 and January 31, 2018)	(16,860)	(16,860)
Accumulated deficit	(59,355)	(42,425)
Accumulated other comprehensive loss	(4,162)	(8,854)
Total shareholders’ equity	60,254	65,849
Total liabilities and shareholders’ equity	$ 68,539	$ 73,679

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Oct. 31, 2018	Jan. 31, 2018
Statement of Financial Position [Abstract]
Allowance for doubtful accounts, current	$ 3,108	$ 3,885
Allowance for doubtful accounts, non-current	$ 532	$ 2,282
Preferred stock, par value (in usd per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	798,000	532,000
Preferred stock, shares outstanding (in shares)	798,000	532,000
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	14,049,000	14,019,000
Treasury stock, shares (in shares)	1,929,000	1,929,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Revenues:
Sale of marine technology products	$ 9,277	$ 5,955	$ 18,720	$ 22,429
Equipment leasing	3,166	2,071	7,493	5,765
Sale of lease pool equipment and other equipment sales	2,208	618	4,401	9,719
Total revenues	14,651	8,644	30,614	37,913
Cost of sales:
Sale of marine technology products	4,904	3,132	10,206	12,975
Equipment leasing (including lease pool depreciation of $2,176 and $3,578 for the three months ended October 31, 2018 and 2017 respectively, and $7,275 and $11,509 for the nine months ended October 31, 2018 and 2017 respectively)	3,296	4,400	10,120	13,815
Lease pool equipment and other equipment sales	1,227	211	1,959	6,410
Total cost of sales	9,427	7,743	22,285	33,200
Gross profit	5,224	901	8,329	4,713
Operating expenses:
Selling, general and administrative	4,819	4,879	15,953	14,508
Research and development	175	299	857	637
Provision for doubtful accounts	0	0	200	0
Depreciation and amortization	579	516	1,816	1,622
Total operating expenses	5,573	5,694	18,826	16,767
Operating loss	(349)	(4,793)	(10,497)	(12,054)
Other income (expense):
Loss on sale (including $5,355 of cumulative translation loss)	(4,905)	0	(4,905)	0
Interest income, net	12	52	47	23
Other, net	(198)	46	(57)	(107)
Total other (expenses) income	(5,091)	98	(4,915)	(84)
Loss before income taxes	(5,440)	(4,695)	(15,412)	(12,138)
Benefit (provision) for income taxes	249	(586)	(273)	(1,172)
Net loss	(5,191)	(5,281)	(15,685)	(13,310)
Preferred stock dividends	(449)	(229)	(1,245)	(630)
Net loss attributable to common shareholders	$ (5,640)	$ (5,510)	$ (16,930)	$ (13,940)
Net loss per common share:
Basic (in usd per share)	$ (0.47)	$ (0.46)	$ (1.40)	$ (1.15)
Diluted (in usd per share)	$ (0.47)	$ (0.46)	$ (1.40)	$ (1.15)
Shares used in computing net loss per common share:
Basic (in shares)	12,119	12,087	12,100	12,082
Diluted (in shares)	12,119	12,087	12,100	12,082

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Income Statement [Abstract]
Lease pool depreciation	$ 2,176	$ 7,275	$ 3,578	$ 11,509
Cumulative translation loss	$ 5,355	$ 0	$ 5,355	$ 0

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Statement of Comprehensive Income [Abstract]
Net loss attributable to common shareholders	$ (5,640)	$ (5,510)	$ (16,930)	$ (13,940)
Change in cumulative translation adjustment for sale of foreign entity	5,355	0	5,355	0
Other changes in cumulative translation adjustment	(284)	(254)	(663)	621
Comprehensive loss attributable to common shareholders	$ (569)	$ (5,764)	$ (12,238)	$ (13,319)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017
Cash flows from operating activities:
Net loss	$ (15,685)	$ (13,310)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Depreciation and amortization	9,184	13,219
Stock-based compensation	575	685
Provision for inventory obsolescence	140	58
Provision for doubtful accounts, net of charge offs	200	0
Gross profit from sale of lease pool equipment	(1,848)	(3,080)
Loss on sale of business	4,905	0
Deferred tax expense	(365)	(31)
Non-Current prepaid tax	472	0
Changes in:
Trade accounts and contracts receivable	(878)	5,129
Unbilled revenue	(2,435)	0
Inventories	(1,304)	79
Prepaid expenses and other current assets	(1,158)	207
Income taxes receivable and payable	0	714
Accounts payable, accrued expenses and other current liabilities	(626)	(1,244)
Deferred revenue	527	0
Foreign exchange losses net of gains	336	(252)
Net cash (used in) provided by operating activities	(7,960)	2,174
Cash flows from investing activities:
Purchases of seismic equipment held for lease	(1,424)	(321)
Acquisition of assets	(3,000)	0
Purchases of property and equipment	(696)	(276)
Sale of used lease pool equipment	4,124	6,690
Sale of business, net of cash sold	(147)	0
Net cash (used in) provided by investing activities	(1,143)	6,093
Cash flows from financing activities:
Net payments on revolving line of credit	0	(3,500)
Payments on term loan and other borrowings	0	(2,807)
Net proceeds from preferred stock offering	6,135	1,847
Preferred stock dividends	(1,245)	(630)
Net cash provided by (used in) financing activities	4,890	(5,090)
Effect of changes in foreign exchange rates on cash, cash equivalents and restricted cash	(314)	82
Net (decrease) increase in cash, cash equivalents and restricted cash	(4,527)	3,259
Cash, cash equivalents and restricted cash, beginning of period	10,146	3,511
Cash, cash equivalents and restricted cash, end of period	5,619	6,770
Supplemental cash flow information:
Interest paid	2	84
Income taxes paid	414	436
Purchases of seismic equipment held for lease in accounts payable at end of period	$ 264	$ 65

Organization

Organization	9 Months Ended
	Oct. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Mitcham Industries, Inc., a Texas corporation (the “Company”), was incorporated in 1987. The Company, through its wholly owned subsidiary, Seamap International Holdings Pte, Ltd. (“Seamap”), and its wholly owned subsidiary, Klein Marine Systems, Inc. (“Klein”), designs, manufactures and sells a broad range of proprietary products for the seismic, hydrographic and offshore industries with product sales and support facilities based in New Hampshire, Singapore, Malaysia and the United Kingdom. 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 Canadian subsidiary, Mitcham Canada, ULC (“MCL”), 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, provides full-service equipment leasing, sales and service to the seismic industry worldwide. In August 2018 the Company sold its wholly owned Russian subsidiary, Mitcham Seismic Eurasia LLC (“MSE”). See Note 12. All intercompany transactions and balances have been eliminated in consolidation.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Oct. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated balance sheet as of January 31, 2018 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 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, 2018 . In the opinion of the Company’s management, all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the financial position as of October 31, 2018 , the results of operations for the three and nine months ended October 31, 2018 and 2017 , and the cash flows for the nine months ended October 31, 2018 and 2017 , have been included in these condensed consolidated 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, 2019.

New Accounting Pronouncements

New Accounting Pronouncements	9 Months Ended
	Oct. 31, 2018
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, to simplify impairment testing of goodwill and other intangible assets by eliminating step two of the impairment test. The Company has adopted the provisions of ASU 2017-04 as of January 31, 2018. The adoption of ASU 2017-04 did not have a material effect on the Company's condensed consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230 ) : Classification of Certain Cash Receipts and Cash Payments , to address how certain cash receipts and cash payments are presented and classified in the statement of cash flows. This update addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The Company has adopted the provisions of ASU No. 2016-15 as of February 1, 2018. The adoption of ASU No. 2016-15 did not have a material effect on the Company’s condensed consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , to provide guidance on recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements, specifically differentiating between different types of leases. More specifically, the new guidance requires a lessee to recognize assets and liabilities for leases with terms of more than 12 months . ASU No. 2016-02 will be effective during the Company’s fiscal year ended January 31, 2020. Management has not yet completed its assessment of the impact of the new guidance. However, based on a preliminary review, the Company does not expect the adoption of ASU No. 2016-02 to have a material impact on its financial statements. The Company is continuing its assessment, which may identify additional impacts the adoption of ASU No. 2016-02 will have on its consolidated financial statements and disclosures. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which supersedes the revenue recognition requirements in ASC 605, Revenue Recognition. ASU 2014-09 was later amended by ASU No. 2016-10 Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing , and ASU No. 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients . ASU 2014-09, as amended, (the “New Revenue Standard”) supersedes most industry specific guidance and intends to enhance comparability of revenue recognition practices across entities and industries by providing a principle-based, comprehensive framework for addressing revenue recognition issues. The Company adopted the New Revenue Standard as of February 1, 2018 using the modified retrospective method. The adoption of the New Revenue Standard did not have a material impact on the Company’s consolidated financial statements.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
	Oct. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers Effective February 1, 2018 the Company adopted the New Revenue Standard using the modified retrospective method applied to those contracts which were not completed as of February 1, 2018. Results for reporting periods beginning after January 31, 2018 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with our historic accounting under Topic 605. Under the New Revenue Standard, revenues are recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services. The Company has determined that the New Revenue Standard applies to contracts performed by the businesses in our Marine Technology Products segment, but not to contracts performed by our Equipment Leasing segment which are within the scope of other revenue recognition standards. The impact of adopting the New Revenue Standard was not material, as the analysis of our contracts under the New Revenue Standard supports the recognition of revenue at a point in time for the majority of our contracts, which is consistent with our revenue recognition model. As a result, the Company did not record an adjustment to opening retained earnings as a result of the adoption of the New Revenue Standard. The following table presents revenue from contracts with customers disaggregated by product line and timing of revenue recognition: Three Months Ended October 31, 2018 Nine Months Ended October 31, 2018 Revenue recognized at a point in time: (in thousands) Seamap $ 5,356 $ 10,512 Klein 2,683 5,560 SAP 1,085 2,362 Total revenue recognized at a point in time $ 9,124 $ 18,434 Revenue recognized over time: Seamap $ 181 $ 591 Total revenue recognized over time 181 591 Total revenue from contracts with customers $ 9,305 $ 19,025 The revenue from products manufactured and sold by our Seamap and Klein businesses, as well as the revenue from products marketed and sold by our SAP business, is generally recognized at a point in time, or when the customer takes possession of the product, based on the terms and conditions stipulated in our contracts with customers. Our Seamap business also provides Software Maintenance Agreements (“SMA”) to customers who have an active license for software imbedded in Seamap products. The revenue from SMA’s is recognized over time, with the total value of the SMA amortized in equal monthly amounts over the life of the contract. The following table presents revenue from contracts with customers disaggregated by geography, based on shipping location of our customers: Three Months Ended October 31, 2018 Nine Months Ended October 31, 2018 (in thousands) United States $ 1,104 $ 2,356 Europe, Russia & CIS 5,629 10,395 Middle East & Africa 515 1,151 Asia-Pacific 1,820 4,499 Canada & Latin America 237 624 Total revenue from contracts with customers $ 9,305 $ 19,025 As of October 31, 2018 contract assets and liabilities consisted of the following: October 31, 2018 Contract Assets: (in thousands) Unbilled revenue-current $ 2,435 Unbilled revenue - non-current — Total unbilled revenue $ 2,435 Contract Liabilities: Deferred revenue & customer deposits - current $ 521 Deferred revenue & customer deposits - non-current 6 Total deferred revenue & customer deposits $ 527 Considering the products manufactured and sold by the businesses in our Marine Technology Products segment and the Company’s standard contract terms and conditions, we expect our contract assets and liabilities to turn over, on average, within a three to six month period . Pursuant to practical expedients and exemptions included in the New Revenue Standard, sales and transaction-based taxes are excluded from revenue. Also, we do not disclose the value of unsatisfied performance obligations for contacts with an original expected duration of one year or less. Additionally, we expense costs incurred to obtain contracts when incurred because the amortization period would have been one year or less. These costs are recorded in selling, general and administrative expenses.

Acquisition of Assets

Acquisition of Assets	9 Months Ended
	Oct. 31, 2018
Business Combinations [Abstract]
Acquisition of Assets	Acquisition of Assets In February 2018 the Company completed the acquisition of intellectual property and certain other assets from Hydroscience Technologies, Inc. and Solid Seismic LLC (collectively “Hydroscience”). Hydroscience designed, manufactured and sold marine sensors and solid streamer technology products primarily for the hydrographic and seismic industries. In April 2017 Hydroscience filed for bankruptcy protection. Mitcham acquired the assets pursuant to an Asset Purchase Agreement and Sale Order (collectively the “Agreement”) that were approved by the bankruptcy court on January 31, 2018. Under the terms of the Agreement, Mitcham acquired certain specified intangible and tangible assets free and clear of all prior claims and encumbrances, and assumed no liabilities, contracts or prior warranty obligations. Details of the purchase price and the allocation of the purchase price to the assets acquired are as follows (in thousands): Purchase Price: Cash $ 3,000 Release of claims against Hydroscience 1,144 Transaction costs 312 Total purchase price $ 4,456 Allocation of purchase price: Inventory $ 206 Tangible assets (mainly manufacturing equipment) 350 Intangible assets (including patents, designs & software) 3,900 Total purchase price $ 4,456 The cash portion of the purchase price and other related costs were financed with the sale of 174,046 shares of our 9% Series A Cumulative Preferred Stock to Mitsubishi Heavy Industries, Inc. for $4.0 million .

Balance Sheet

Balance Sheet	9 Months Ended
	Oct. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet	Balance Sheet October 31, 2018 January 31, 2018 (in thousands) Receivables: Accounts receivable $ 16,722 $ 16,392 Contracts receivable 4,358 4,921 21,080 21,313 Less long-term portion (532 ) (6,934 ) Current accounts and contracts receivable 20,548 14,379 Less current portion of allowance for doubtful accounts (3,108 ) (3,885 ) Current portion of accounts and contracts receivable, net of allowance for doubtful accounts $ 17,440 $ 10,494 Contracts receivable consisted of $4.4 million due from five customers at October 31, 2018 and $4.9 million due from four customers as of January 31, 2018 . The balance of contracts receivable at October 31, 2018 and January 31, 2018 consisted of contracts bearing interest at an average rate of approximately 4.3% and 2.2% respectively and with remaining repayment terms from 1 to 40 months . These contracts are related to lease pool equipment sales and are collateralized by the equipment sold. October 31, 2018 January 31, 2018 (in thousands) Inventories: Raw materials $ 4,844 $ 5,099 Finished goods 5,916 6,185 Work in progress 1,987 1,247 12,747 12,531 Less allowance for obsolescence (1,068 ) (1,675 ) Total inventories, net $ 11,679 $ 10,856 October 31, 2018 January 31, 2018 (in thousands) Seismic equipment lease pool and property and equipment: Seismic equipment lease pool $ 159,312 $ 174,274 Land and buildings 4,021 3,380 Furniture and fixtures 10,103 10,222 Autos and trucks 762 722 174,198 188,598 Accumulated depreciation and amortization (157,543 ) (165,698 ) Total seismic equipment lease pool and property and equipment, net $ 16,655 $ 22,900 As of January 31, 2018 , the Company completed an annual review of long-lived assets noting that the undiscounted future cash flows exceeded their carrying value and no impairment has been recorded. Since January 31, 2018 there have been no significant changes to the market, economic or legal environment in which the Company operates that would indicate additional impairment analysis is necessary as of October 31, 2018 .

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Oct. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Weighted Average Life at 10/31/2018 October 31, 2018 January 31, 2018 Gross Carrying Amount Accumulated Amortization Impairment Net Carrying Amount Gross Carrying Amount Accumulated Amortization Impairment Net Carrying Amount (in thousands) (in thousands) Goodwill $ 7,060 $ — $ (4,529 ) $ 2,531 $ 7,060 $ — $ (4,529 ) $ 2,531 Proprietary rights 7.6 $ 9,594 $ (4,077 ) $ — $ 5,517 $ 6,181 $ (3,663 ) $ — $ 2,518 Customer relationships 3.1 5,024 (2,976 ) — 2,048 5,024 (2,464 ) — 2,560 Patents 5.7 2,441 (965 ) — 1,476 1,730 (778 ) — 952 Trade name 7.6 894 (49 ) — 845 894 (41 ) — 853 Developed technology 7.2 1,430 (405 ) — 1,025 1,430 (298 ) — 1,132 Amortizable intangible assets $ 19,383 $ (8,472 ) $ — $ 10,911 $ 15,259 $ (7,244 ) $ — $ 8,015 On January 31, 2018 , the Company completed an annual review of goodwill and other intangible assets. Based on a review of qualitative factors it was determined it was more likely than not that the fair value of our Seamap reporting unit was greater than its carrying value. Based on a review of qualitative and quantitative factors it was determined it was more likely than not that the fair value of our Klein reporting unit was not greater than its carrying value. Accordingly, we recorded an impairment of approximately $1.5 million related to the Klein reporting unit in the quarter ended January 31, 2018 . During the nine months ended October 31, 2018 there have been no substantive indicators of additional impairment. Amortizable intangible assets are amortized over their estimated useful lives of five to 15 years using the straight-line method. Aggregate amortization expense was $1.3 million and $1.1 million for the nine months ended October 31, 2018 and 2017 , respectively. As of October 31, 2018 , future estimated amortization expense related to amortizable intangible assets was estimated to be: For fiscal years ending January 31 (in thousands): 2019 $ 472 2020 1,845 2021 1,697 2022 1,212 2023 1,018 2024 and thereafter 4,667 Total $ 10,911

Income Taxes

Income Taxes	9 Months Ended
	Oct. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the nine months ended October 31, 2018 the provision for income taxes was approximately $273,000 on a pre-tax net loss of $15.4 million . For the nine months ended October 31, 2017 the provision for income taxes was approximately $1.2 million on a pre-tax net loss of $12.1 million . The variance between our actual provision and the expected provision based on the U.S. statutory rate is due to the mix of pre-tax profit between the U.S. and international taxing jurisdictions with varying statutory rates, the impact of permanent differences, state income and foreign withholding taxes, other tax adjustments, such as valuation allowances against deferred tax assets, and discrete items, including tax expense or benefit recognized for uncertain tax positions. Non-current prepaid income taxes of approximately $1.4 million at October 31, 2018 and 1.6 million at January 31, 2018 , consist primarily of foreign taxes. The Company files U.S. federal and state income tax returns as well as separate returns for its foreign subsidiaries within their local jurisdictions. The Company's U.S. federal and state income tax returns are subject to examination by the Internal Revenue Service and state tax authorities for fiscal years ended January 31, 2013 through 2018. In addition, the Company's tax returns filed in foreign jurisdictions are generally subject to examination for the fiscal years ended January 31, 2013 through 2018. The Company has determined that the undistributed earnings of foreign subsidiaries are not deemed to be indefinitely reinvested outside of the United States as of October 31, 2018 . Furthermore, the Company has concluded that any deferred taxes with respect to the undistributed foreign earnings would be immaterial, particularly in light of the one-time repatriation of foreign earnings imposed by the Tax Cuts and Jobs Act legislation enacted in December 2017. Therefore, the Company has not recorded a deferred tax liability associated with the undistributed foreign earnings as of October 31, 2018 . For the nine months ended October 31, 2018 and October 31, 2017 , the Company did not recognize any tax expense or benefit related to uncertain tax positions. The Company prospectively adopted the provisions of ASU 2016-09 beginning February 1, 2017. Accordingly, all excess tax benefits or deficiencies related to employee share-based payments are recognized as income tax benefits or expense in the accompanying Consolidated Statement of Operations and as operating activities in the accompanying Consolidated Statements of Cash Flows.

Earnings per Share

Earnings per Share	9 Months Ended
	Oct. 31, 2018
Earnings Per Share [Abstract]
Earnings per Share	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 October 31, Nine Months Ended October 31, 2018 2017 2018 2017 (in thousands) (in thousands) Basic weighted average common shares outstanding 12,119 12,087 12,100 12,082 Stock options 92 35 73 81 Unvested restricted stock 3 28 10 34 Total weighted average common share equivalents 95 63 83 115 Diluted weighted average common shares outstanding 12,214 12,150 12,183 12,197 For the three and nine month periods ended October 31, 2018 and 2017 , 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 those periods.

Related Party Transaction

Related Party Transaction	9 Months Ended
	Oct. 31, 2018
Related Party Transactions [Abstract]
Related Party Transaction	Related Party Transaction On October 7, 2016 the Company entered into an equity distribution agreement (the “Equity Distribution Agreement”) with Ladenburg Thalmann & Co. Inc. (the “Agent”), pursuant to which the Company may sell up to 500,000 shares of 9.00% Series A Cumulative Preferred Stock (the "Preferred Stock'), par value $1.00 per share through an at-the-market ("ATM") offering program administered by the Agent. The Co-Chief Executive Officer and Co-President of Ladenburg Thalmann & Co. Inc is the Non-Executive Chairman of the Company’s board of directors. Under the Equity Distribution Agreement, the Agent will be entitled to compensation of up to 2.0% of the gross proceeds from the sale of Preferred Stock under the ATM offering program. For the three and nine month periods ended October 31, 2018 , the Company issued 29,562 and 91,910 shares of Preferred Stock under the ATM offering program, respectively. Gross proceeds from these sales for the three and nine months ended October 31, 2018 were approximately $699,000 and $2.2 million , respectively, and the Agent received compensation of approximately $14,000 and $44,000 , respectively. The Non-Executive Chairman of the Company received no portion of this compensation.

Equity and Stock-Based Compensa

Equity and Stock-Based Compensation	9 Months Ended
	Oct. 31, 2018
Equity [Abstract]
Equity and Stock-Based Compensation	Equity and Stock-Based Compensation During the three months ended October 31, 2018 , the Company’s Board of Directors declared quarterly dividends of $0.5625 per share for our Preferred Stock. See Note 10. Total compensation expense recognized for stock-based awards granted under the Company’s equity incentive plan during the three and nine month periods ended October 31, 2018 was approximately $207,000 and $575,000 , respectively, and during the three and nine month periods ended October 31, 2017 was approximately $224,000 and $685,000 , respectively.

Sale of MSE Sale of MSE

Sale of MSE Sale of MSE	9 Months Ended
	Oct. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]
Sale of MSE	Sale of MSE In August 2018, the Company completed the sale of its wholly owned Russian subsidiary, Mitcham Seismic Eurasia LLC for total contractual proceeds of approximately $1.2 million U.S. dollars. The proceeds are due in monthly installments of principal and interest, accruing at a rate of 9% per annum, with the balance due on or before August 31, 2019. As a result of the sale, the company recorded a loss of approximately $4.9 million including recognition of approximately $5.4 million of cumulative translation losses which had been historically recorded in Accumulated Other Comprehensive Loss, a component of equity.

Segment Reporting

Segment Reporting	9 Months Ended
	Oct. 31, 2018
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting The Marine Technology Products segment is engaged in the design, manufacture and sale of state-of-the-art seismic and offshore telemetry systems. Manufacturing, support and sales facilities are maintained in the UK, Singapore, Malaysia and New Hampshire, with sales offices in Huntsville, Texas and Brisbane, Australia. The Equipment Leasing segment offers for lease or sale, new and used seismic equipment to the oil and gas industry, seismic contractors, environmental agencies, government agencies and universities. The Equipment Leasing segment is headquartered in Huntsville, Texas, with sales and services offices in Calgary, Canada; Singapore; Brisbane, Australia and, prior to the sale of MSE (see Note 12) in August 2018, Ufa, Bashkortostan, Russia. Financial information by business segment is set forth below (net of any allocations): Total Assets As of October 31, 2018 As of January 31, 2018 (in thousands) Marine Technology Products $ 46,331 $ 35,879 Equipment Leasing 22,231 37,850 Eliminations (23 ) (50 ) Consolidated $ 68,539 $ 73,679 Results for the three months ended October 31, 2018 and 2017 were as follows (in thousands): Revenues Operating income (loss) Income (loss) before taxes 2018 2017 2018 2017 2018 2017 Marine Technology Products $ 9,305 $ 5,992 $ 876 $ (74 ) $ 881 $ 4 Equipment Leasing 5,386 2,730 (347 ) (3,927 ) (5,443 ) (3,933 ) Corporate expenses — — (864 ) (792 ) (864 ) (792 ) Eliminations (40 ) (78 ) (14 ) — (14 ) 26 Consolidated $ 14,651 $ 8,644 $ (349 ) $ (4,793 ) $ (5,440 ) $ (4,695 ) Results for the nine months ended October 31, 2018 and 2017 were as follows (in thousands): Revenues Operating income (loss) Income (loss) before taxes 2018 2017 2018 2017 2018 2017 Marine Technology Products $ 19,025 $ 22,565 $ (2,515 ) $ 1,160 $ (2,441 ) $ 999 Equipment Leasing 11,906 15,546 (5,369 ) (10,571 ) (10,359 ) (10,494 ) Corporate expenses — — (2,599 ) (2,643 ) (2,599 ) (2,643 ) Eliminations (317 ) (198 ) (14 ) — (13 ) — Consolidated $ 30,614 $ 37,913 $ (10,497 ) $ (12,054 ) $ (15,412 ) $ (12,138 ) Sales from the Marine Technology Products segment to the Equipment Leasing segment are eliminated in consolidated revenues. Consolidated income before taxes reflects the elimination of profit from intercompany sales and depreciation expense on the difference between the sales price and the cost to manufacture the equipment. Fixed assets are reduced by the difference between the sales price and the cost to manufacture the equipment, less the accumulated depreciation related to the difference.

Organization (Policies)

Organization (Policies)	9 Months Ended
	Oct. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Mitcham Industries, Inc., a Texas corporation (the “Company”), was incorporated in 1987. The Company, through its wholly owned subsidiary, Seamap International Holdings Pte, Ltd. (“Seamap”), and its wholly owned subsidiary, Klein Marine Systems, Inc. (“Klein”), designs, manufactures and sells a broad range of proprietary products for the seismic, hydrographic and offshore industries with product sales and support facilities based in New Hampshire, Singapore, Malaysia and the United Kingdom. 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 Canadian subsidiary, Mitcham Canada, ULC (“MCL”), 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, provides full-service equipment leasing, sales and service to the seismic industry worldwide. In August 2018 the Company sold its wholly owned Russian subsidiary, Mitcham Seismic Eurasia LLC (“MSE”). See Note 12. All intercompany transactions and balances have been eliminated in consolidation.
Basis of Presentation	Basis of Presentation The condensed consolidated balance sheet as of January 31, 2018 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 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, 2018 . In the opinion of the Company’s management, all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the financial position as of October 31, 2018 , the results of operations for the three and nine months ended October 31, 2018 and 2017 , and the cash flows for the nine months ended October 31, 2018 and 2017 , have been included in these condensed consolidated 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, 2019.
New Accounting Pronouncements	New Accounting Pronouncements In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-04, Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment, to simplify impairment testing of goodwill and other intangible assets by eliminating step two of the impairment test. The Company has adopted the provisions of ASU 2017-04 as of January 31, 2018. The adoption of ASU 2017-04 did not have a material effect on the Company's condensed consolidated financial statements. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230 ) : Classification of Certain Cash Receipts and Cash Payments , to address how certain cash receipts and cash payments are presented and classified in the statement of cash flows. This update addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. The Company has adopted the provisions of ASU No. 2016-15 as of February 1, 2018. The adoption of ASU No. 2016-15 did not have a material effect on the Company’s condensed consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) , to provide guidance on recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements, specifically differentiating between different types of leases. More specifically, the new guidance requires a lessee to recognize assets and liabilities for leases with terms of more than 12 months . ASU No. 2016-02 will be effective during the Company’s fiscal year ended January 31, 2020. Management has not yet completed its assessment of the impact of the new guidance. However, based on a preliminary review, the Company does not expect the adoption of ASU No. 2016-02 to have a material impact on its financial statements. The Company is continuing its assessment, which may identify additional impacts the adoption of ASU No. 2016-02 will have on its consolidated financial statements and disclosures. In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which supersedes the revenue recognition requirements in ASC 605, Revenue Recognition. ASU 2014-09 was later amended by ASU No. 2016-10 Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing , and ASU No. 2016-12, Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients . ASU 2014-09, as amended, (the “New Revenue Standard”) supersedes most industry specific guidance and intends to enhance comparability of revenue recognition practices across entities and industries by providing a principle-based, comprehensive framework for addressing revenue recognition issues. The Company adopted the New Revenue Standard as of February 1, 2018 using the modified retrospective method. The adoption of the New Revenue Standard did not have a material impact on the Company’s consolidated financial statements.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Oct. 31, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents revenue from contracts with customers disaggregated by geography, based on shipping location of our customers: Three Months Ended October 31, 2018 Nine Months Ended October 31, 2018 (in thousands) United States $ 1,104 $ 2,356 Europe, Russia & CIS 5,629 10,395 Middle East & Africa 515 1,151 Asia-Pacific 1,820 4,499 Canada & Latin America 237 624 Total revenue from contracts with customers $ 9,305 $ 19,025 The following table presents revenue from contracts with customers disaggregated by product line and timing of revenue recognition: Three Months Ended October 31, 2018 Nine Months Ended October 31, 2018 Revenue recognized at a point in time: (in thousands) Seamap $ 5,356 $ 10,512 Klein 2,683 5,560 SAP 1,085 2,362 Total revenue recognized at a point in time $ 9,124 $ 18,434 Revenue recognized over time: Seamap $ 181 $ 591 Total revenue recognized over time 181 591 Total revenue from contracts with customers $ 9,305 $ 19,025
Contract with Customer, Asset and Liability	As of October 31, 2018 contract assets and liabilities consisted of the following: October 31, 2018 Contract Assets: (in thousands) Unbilled revenue-current $ 2,435 Unbilled revenue - non-current — Total unbilled revenue $ 2,435 Contract Liabilities: Deferred revenue & customer deposits - current $ 521 Deferred revenue & customer deposits - non-current 6 Total deferred revenue & customer deposits $ 527

Acquisition of Assets (Tables)

Acquisition of Assets (Tables)	9 Months Ended
	Oct. 31, 2018
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	Details of the purchase price and the allocation of the purchase price to the assets acquired are as follows (in thousands): Purchase Price: Cash $ 3,000 Release of claims against Hydroscience 1,144 Transaction costs 312 Total purchase price $ 4,456 Allocation of purchase price: Inventory $ 206 Tangible assets (mainly manufacturing equipment) 350 Intangible assets (including patents, designs & software) 3,900 Total purchase price $ 4,456

Balance Sheet (Tables)

Balance Sheet (Tables)	9 Months Ended
	Oct. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts and Contracts Receivables	October 31, 2018 January 31, 2018 (in thousands) Receivables: Accounts receivable $ 16,722 $ 16,392 Contracts receivable 4,358 4,921 21,080 21,313 Less long-term portion (532 ) (6,934 ) Current accounts and contracts receivable 20,548 14,379 Less current portion of allowance for doubtful accounts (3,108 ) (3,885 ) Current portion of accounts and contracts receivable, net of allowance for doubtful accounts $ 17,440 $ 10,494
Schedule of Inventories	October 31, 2018 January 31, 2018 (in thousands) Inventories: Raw materials $ 4,844 $ 5,099 Finished goods 5,916 6,185 Work in progress 1,987 1,247 12,747 12,531 Less allowance for obsolescence (1,068 ) (1,675 ) Total inventories, net $ 11,679 $ 10,856
Schedule of Seismic Equipment Lease Pool and Property and Equipment	October 31, 2018 January 31, 2018 (in thousands) Seismic equipment lease pool and property and equipment: Seismic equipment lease pool $ 159,312 $ 174,274 Land and buildings 4,021 3,380 Furniture and fixtures 10,103 10,222 Autos and trucks 762 722 174,198 188,598 Accumulated depreciation and amortization (157,543 ) (165,698 ) Total seismic equipment lease pool and property and equipment, net $ 16,655 $ 22,900

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Oct. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Weighted Average Life at 10/31/2018 October 31, 2018 January 31, 2018 Gross Carrying Amount Accumulated Amortization Impairment Net Carrying Amount Gross Carrying Amount Accumulated Amortization Impairment Net Carrying Amount (in thousands) (in thousands) Goodwill $ 7,060 $ — $ (4,529 ) $ 2,531 $ 7,060 $ — $ (4,529 ) $ 2,531 Proprietary rights 7.6 $ 9,594 $ (4,077 ) $ — $ 5,517 $ 6,181 $ (3,663 ) $ — $ 2,518 Customer relationships 3.1 5,024 (2,976 ) — 2,048 5,024 (2,464 ) — 2,560 Patents 5.7 2,441 (965 ) — 1,476 1,730 (778 ) — 952 Trade name 7.6 894 (49 ) — 845 894 (41 ) — 853 Developed technology 7.2 1,430 (405 ) — 1,025 1,430 (298 ) — 1,132 Amortizable intangible assets $ 19,383 $ (8,472 ) $ — $ 10,911 $ 15,259 $ (7,244 ) $ — $ 8,015
Future Estimated Amortization Expense Related to Amortizable Intangible Assets	As of October 31, 2018 , future estimated amortization expense related to amortizable intangible assets was estimated to be: For fiscal years ending January 31 (in thousands): 2019 $ 472 2020 1,845 2021 1,697 2022 1,212 2023 1,018 2024 and thereafter 4,667 Total $ 10,911

Earnings per Share (Tables)

Earnings per Share (Tables)	9 Months Ended
	Oct. 31, 2018
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 October 31, Nine Months Ended October 31, 2018 2017 2018 2017 (in thousands) (in thousands) Basic weighted average common shares outstanding 12,119 12,087 12,100 12,082 Stock options 92 35 73 81 Unvested restricted stock 3 28 10 34 Total weighted average common share equivalents 95 63 83 115 Diluted weighted average common shares outstanding 12,214 12,150 12,183 12,197

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Oct. 31, 2018
Segment Reporting [Abstract]
Reconciliation of Assets from Segment to Consolidated	Financial information by business segment is set forth below (net of any allocations): Total Assets As of October 31, 2018 As of January 31, 2018 (in thousands) Marine Technology Products $ 46,331 $ 35,879 Equipment Leasing 22,231 37,850 Eliminations (23 ) (50 ) Consolidated $ 68,539 $ 73,679
Reconciliation of Revenue from Segment to Consolidated	Results for the three months ended October 31, 2018 and 2017 were as follows (in thousands): Revenues Operating income (loss) Income (loss) before taxes 2018 2017 2018 2017 2018 2017 Marine Technology Products $ 9,305 $ 5,992 $ 876 $ (74 ) $ 881 $ 4 Equipment Leasing 5,386 2,730 (347 ) (3,927 ) (5,443 ) (3,933 ) Corporate expenses — — (864 ) (792 ) (864 ) (792 ) Eliminations (40 ) (78 ) (14 ) — (14 ) 26 Consolidated $ 14,651 $ 8,644 $ (349 ) $ (4,793 ) $ (5,440 ) $ (4,695 ) Results for the nine months ended October 31, 2018 and 2017 were as follows (in thousands): Revenues Operating income (loss) Income (loss) before taxes 2018 2017 2018 2017 2018 2017 Marine Technology Products $ 19,025 $ 22,565 $ (2,515 ) $ 1,160 $ (2,441 ) $ 999 Equipment Leasing 11,906 15,546 (5,369 ) (10,571 ) (10,359 ) (10,494 ) Corporate expenses — — (2,599 ) (2,643 ) (2,599 ) (2,643 ) Eliminations (317 ) (198 ) (14 ) — (13 ) — Consolidated $ 30,614 $ 37,913 $ (10,497 ) $ (12,054 ) $ (15,412 ) $ (12,138 )

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Revenue Disaggregation (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Oct. 31, 2018	Oct. 31, 2018
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 9,305	$ 19,025
Revenue recognized at a point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	9,124	18,434
Revenue recognized over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	181	591
Seamap | Revenue recognized at a point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	5,356	10,512
Seamap | Revenue recognized over time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	181	591
Klein | Revenue recognized at a point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	2,683	5,560
SAP | Revenue recognized at a point in time
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 1,085	$ 2,362

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Revenue Disaggregated by Geography (Detail) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Oct. 31, 2018	Oct. 31, 2018
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 9,305	$ 19,025
United States
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	1,104	2,356
Europe, Russia & CIS
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	5,629	10,395
Middle East & Africa
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	515	1,151
Asia-Pacific
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	1,820	4,499
Canada & Latin America
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 237	$ 624

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Contract Assets And Liabilities (Detail) $ in Thousands	9 Months Ended
	Oct. 31, 2018USD ($)
Contract Assets:
Unbilled revenue-current	$ 2,435
Unbilled revenue - non-current	0
Total unbilled revenue	2,435
Contract Liabilities:
Deferred revenue & customer deposits - current	521
Deferred revenue & customer deposits - non-current	6
Total deferred revenue & customer deposits	$ 527
Minimum
Contract With Customers [Line Items]
Contract with customers, turn over period	3 months
Maximum
Contract With Customers [Line Items]
Contract with customers, turn over period	6 months

Acquisition of Assets (Detail)

Acquisition of Assets (Detail) $ in Thousands	1 Months Ended
	Feb. 28, 2018USD ($)shares
Preferred Stock
Allocation of purchase price:
Stock issued during period (in shares) | shares	174,046
Preferred stock dividend rate	9.00%
Value of shares issued	$ 4,000
Hydroscience
Purchase Price:
Cash	3,000
Release of claims against Hydroscience	1,144
Transaction costs	312
Total purchase price	4,456
Allocation of purchase price:
Inventory	206
Tangible assets (mainly manufacturing equipment)	350
Intangible assets (including patents, designs & software)	3,900
Total purchase price	$ 4,456

Balance Sheet - Accounts and Co

Balance Sheet - Accounts and Contracts Receivables (Detail) - USD ($) $ in Thousands	Oct. 31, 2018	Jan. 31, 2018
Receivables:
Accounts receivable	$ 16,722	$ 16,392
Contracts receivable	4,358	4,921
Total receivables	21,080	21,313
Less long-term portion	(532)	(6,934)
Current accounts and contracts receivable	20,548	14,379
Less current portion of allowance for doubtful accounts	(3,108)	(3,885)
Current portion of accounts and contracts receivable, net of allowance for doubtful accounts	$ 17,440	$ 10,494

Balance Sheet - Additional Info

Balance Sheet - Additional Information (Detail)	9 Months Ended	12 Months Ended
	Oct. 31, 2018USD ($)customer	Jan. 31, 2018USD ($)customer
Balance Sheet [Line Items]
Contracts receivable	$ 4,358,000	$ 4,921,000
Number of customers due | customer	5	4
Contracts receivable, interest rate	4.30%	2.20%
Impairment of long-lived assets		$ 0
Minimum
Balance Sheet [Line Items]
Contracts receivable repayment term	1 month
Maximum
Balance Sheet [Line Items]
Contracts receivable repayment term	40 months

Balance Sheet - Schedule of Inv

Balance Sheet - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Oct. 31, 2018	Jan. 31, 2018
Inventories:
Raw materials	$ 4,844	$ 5,099
Finished goods	5,916	6,185
Work in progress	1,987	1,247
Cost of inventories	12,747	12,531
Less allowance for obsolescence	(1,068)	(1,675)
Total inventories, net	$ 11,679	$ 10,856

Balance Sheet - Schedule of Sei

Balance Sheet - Schedule of Seismic Equipment Lease Pool and Property and Equipment (Detail) - USD ($) $ in Thousands	Oct. 31, 2018	Jan. 31, 2018
Seismic equipment lease pool and property and equipment:
Seismic equipment lease pool and property and equipment	$ 174,198	$ 188,598
Accumulated depreciation and amortization	(157,543)	(165,698)
Total seismic equipment lease pool and property and equipment, net	16,655	22,900
Seismic equipment lease pool
Seismic equipment lease pool and property and equipment:
Seismic equipment lease pool and property and equipment	159,312	174,274
Land and buildings
Seismic equipment lease pool and property and equipment:
Seismic equipment lease pool and property and equipment	4,021	3,380
Furniture and fixtures
Seismic equipment lease pool and property and equipment:
Seismic equipment lease pool and property and equipment	10,103	10,222
Autos and trucks
Seismic equipment lease pool and property and equipment:
Seismic equipment lease pool and property and equipment	$ 762	$ 722

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Schedule of Net Carrying Amount (Detail) - USD ($) $ in Thousands	9 Months Ended
	Oct. 31, 2018	Jan. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Gross Carrying Amount	$ 7,060	$ 7,060
Goodwill, Impairment	(4,529)	(4,529)
Goodwill, Net Carrying Amount	2,531	2,531
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	19,383	15,259
Accumulated Amortization	(8,472)	(7,244)
Net Carrying Amount	$ 10,911	8,015
Proprietary rights
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life	7 years 7 months 5 days
Gross Carrying Amount	$ 9,594	6,181
Accumulated Amortization	(4,077)	(3,663)
Net Carrying Amount	$ 5,517	2,518
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life	3 years 1 month 1 day
Gross Carrying Amount	$ 5,024	5,024
Accumulated Amortization	(2,976)	(2,464)
Net Carrying Amount	$ 2,048	2,560
Patents
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life	5 years 8 months 24 days
Gross Carrying Amount	$ 2,441	1,730
Accumulated Amortization	(965)	(778)
Net Carrying Amount	$ 1,476	952
Trade name
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life	7 years 7 months 18 days
Gross Carrying Amount	$ 894	894
Accumulated Amortization	(49)	(41)
Net Carrying Amount	$ 845	853
Developed technology
Finite-Lived Intangible Assets [Line Items]
Weighted Average Life	7 years 2 months 2 days
Gross Carrying Amount	$ 1,430	1,430
Accumulated Amortization	(405)	(298)
Net Carrying Amount	$ 1,025	$ 1,132

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended	9 Months Ended
	Jan. 31, 2018	Oct. 31, 2018	Oct. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment	$ 1,500,000
Additional impairment charges		$ 0
Aggregate amortization expense		$ 1,300,000	$ 1,100,000
Minimum
Finite-Lived Intangible Assets [Line Items]
Useful life of intangible assets		5 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Useful life of intangible assets		15 years

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Future Estimated Amortization Expense Related to Amortizable Intangible Assets (Detail) - USD ($) $ in Thousands	Oct. 31, 2018	Jan. 31, 2018
For fiscal years ending January 31 (in thousands):
2,019	$ 472
2,020	1,845
2,021	1,697
2,022	1,212
2,023	1,018
2024 and thereafter	4,667
Net Carrying Amount	$ 10,911	$ 8,015

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017	Jan. 31, 2018
Income Tax Disclosure [Abstract]
Provision for income taxes	$ (249,000)	$ 586,000	$ 273,000	$ 1,172,000
Pre-tax net loss	5,440,000	4,695,000	15,412,000	12,138,000
Non-current prepaid income taxes	1,434,000		1,434,000		$ 1,609,000
Unrecognized tax benefit	$ 0	$ 0	$ 0	$ 0

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, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Earnings Per Share [Abstract]
Basic weighted average common shares outstanding	12,119	12,087	12,100	12,082
Stock options	92	35	73	81
Unvested restricted stock	3	28	10	34
Total weighted average common share equivalents	95	63	83	115
Diluted weighted average common shares outstanding	12,214	12,150	12,183	12,197

Related Party Transaction - Add

Related Party Transaction - Additional Information (Detail) - USD ($)	Oct. 07, 2016	Oct. 31, 2018	Oct. 31, 2018	Jan. 31, 2018
Related Party Transaction [Line Items]
Maximum number of preferred stock to be issued (in shares)		1,000,000	1,000,000	1,000,000
Preferred stock, par value (in usd per share)		$ 1	$ 1	$ 1
Series A Preferred Stock
Related Party Transaction [Line Items]
Maximum number of preferred stock to be issued (in shares)	500,000
Preferred stock dividend rate	9.00%
Preferred stock, par value (in usd per share)	$ 1
Stock issued during period (in shares)		29,562	91,910
Series A Preferred Stock | Non-Executive Chairman
Related Party Transaction [Line Items]
Equity distribution compensation expenses			$ 0
Series A Preferred Stock | Ladenburg Thalmann & Co. Inc.
Related Party Transaction [Line Items]
Percentage of compensation fees to be paid	2.00%
Gross proceeds from preferred stock		$ 699,000	2,200,000
Equity distribution compensation expenses		$ 14,000	$ 44,000

Equity and Stock-Based Compen_2

Equity and Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Equity [Abstract]
Quarterly dividends declared (in usd per share)	$ 0.5625
Compensation expense related to stock-based awards granted	$ 207	$ 224	$ 575	$ 685

Sale of MSE Sale of MSE (Detail

Sale of MSE Sale of MSE (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Aug. 31, 2018	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss on sale subsidiary		$ 4,905	$ 0	$ 4,905	$ 0
Cumulative translation loss		$ (5,355)	$ 0	$ (5,355)	$ 0
Mitcham Seismic Eurasia LLC | Disposal Group, Disposed of by Sale, Not Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of subsidiaries	$ 1,200
Interest rate on payments due from sale of subsidiary	9.00%
Loss on sale subsidiary	$ 4,900
Cumulative translation loss	$ 5,400

Segment Reporting - Financial I

Segment Reporting - Financial Information by Business Segment (Assets) (Detail) - USD ($) $ in Thousands	Oct. 31, 2018	Jan. 31, 2018
Segment Reporting Information [Line Items]
Total Assets	$ 68,539	$ 73,679
Operating Segments | Marine Technology Products
Segment Reporting Information [Line Items]
Total Assets	46,331	35,879
Operating Segments | Equipment Leasing
Segment Reporting Information [Line Items]
Total Assets	22,231	37,850
Eliminations
Segment Reporting Information [Line Items]
Total Assets	$ (23)	$ (50)

Segment Reporting - Financial_2

Segment Reporting - Financial Information by Business Segment (Revenues) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 31, 2018	Oct. 31, 2017	Oct. 31, 2018	Oct. 31, 2017
Segment Reporting Information [Line Items]
Revenues	$ 14,651	$ 8,644	$ 30,614	$ 37,913
Operating income (loss)	(349)	(4,793)	(10,497)	(12,054)
Income (loss) before taxes	(5,440)	(4,695)	(15,412)	(12,138)
Operating Segments | Marine Technology Products
Segment Reporting Information [Line Items]
Revenues	9,305	5,992	19,025	22,565
Operating income (loss)	876	(74)	(2,515)	1,160
Income (loss) before taxes	881	4	(2,441)	999
Operating Segments | Equipment Leasing
Segment Reporting Information [Line Items]
Revenues	5,386	2,730	11,906	15,546
Operating income (loss)	(347)	(3,927)	(5,369)	(10,571)
Income (loss) before taxes	(5,443)	(3,933)	(10,359)	(10,494)
Corporate expenses
Segment Reporting Information [Line Items]
Revenues	0	0	0	0
Operating income (loss)	(864)	(792)	(2,599)	(2,643)
Income (loss) before taxes	(864)	(792)	(2,599)	(2,643)
Eliminations
Segment Reporting Information [Line Items]
Revenues	(40)	(78)	(317)	(198)
Operating income (loss)	(14)	0	(14)	0
Income (loss) before taxes	$ (14)	$ 26	$ (13)	$ 0