Income (loss) before income taxes was heavily impacted by impairment charges in both FY2013 ($4.4 million) and FY2012 ($17.1 million). Aside from the impairment charges, income before income taxes for FY2012 included $5.4 million of recognized gain on the sale of a facility in Fontana, California, which was originally deferred when sold. The remaining $1.0 million of the gain was recognized in FY2013. Results were improved due to steps being taken to control overhead costs and improve margins through diversity of the work being performed, including a water supply project being executed for a customer of our Mineral Exploration Division in Mexico.The backlog in the Water Resources Division was $63.1 million as of January 31, 2013, compared to $102.7 million as of January 31, 2012. This decrease is primarily due to what we believe is a temporary slowdown in deep injection well drilling projects in Florida and completion of a large project in California.
|Inliner Division||Three Months||Twelve Months|
|Ended January 31,||Ended January 31,|
|Revenues||$ 31,574||$ 34,501||$ 133,256||$ 132,108|
|Income before impairments and income taxes||2,009||2,079||9,936||9,894|
|Less: Impairment charges||-||(23,130)||-||(23,130)|
|Income (loss) before income taxes||2,009||(21,051)||9,936||(13,236)|