Composition of Certain Balance Sheet Accounts

12 Months Ended

Feb. 28, 2013

The Company and Operations/Composition of Certain Balance Sheet Accounts [Abstract]

Composition of Certain Balance Sheet Accounts

11. Composition of Certain Balance Sheet Accounts

The composition of accounts receivables, net of reserves, is as follows:

	Years Ended
	February 28, 2013		February 29, 2012
	(In thousands)
Due from factor	$	—	$	1,183
Accounts receivable, other		1,896		485
	$	1,896	$	1,668

The total due from factor at February 29, 2012, included approximately $1.1 million of invoices assigned on a recourse basis. Accordingly, the credit risk associated with the assigned invoices remained with the Company at February 29, 2012. As disclosed in footnote 4, the Company had a factoring agreement with FCC, LLC, d/b/a First Capital until December 10, 2012

The composition of inventories is as follows:

	Years Ended
	February 28, 2013		February 29, 2012
	(In thousands)
Raw materials	$	2,560	$	1,419
Work in process		2,294		2,424
Finished goods		2,286		2,790
	$	7,140	$	6,633

The composition of property and equipment is as follows:

	Years Ended
	February 28, 2013			February 29, 2012
	(In thousands)
Molds and dies	$	1,317		$	1,234
Machinery and equipment		4,531			4,507
Furniture and fixtures		251			251
Autos and trucks		127			199
Leasehold improvements		138			138
		6,364			6,329
Less accumulated depreciation and amortization		(6,168	)		(6,159	)
	$	196		$	170

For the fiscal years ended February 28, 2013 and February 29, 2012, the Company recorded depreciation expense of $112 thousand and $43 thousand, respectively.

The composition of accrued liabilities is as follows:

	Years Ended
	February 28, 2013		February 29, 2012
	(In thousands)
Salaries, wages, bonuses and other associated payroll costs	$	433	$	481
Warranty costs, Meade		195		242
Warranty costs, Simmons & Weaver		200		494
Freight expenses		28		21
Advertising and marketing expenses		47		117
Professional fees		78		66
Customer deposits		161		146
Other		131		119
	$	1,273	$	1,686