Shareholders Equity

9 Months Ended

Nov. 30, 2011

Shareholders' Equity [Abstract]

Shareholders' Equity

9. Shareholders’ Equity

Comprehensive income is defined as all changes in equity during a period, except for those resulting from investments by owners and distributions to owners. The components of comprehensive income were as follows (in thousands):

	Three months ended November 30,					Nine months ended November 30,
	2011			2010		2011			2010
Net earnings	$	6,892		$	9,643	$	28,028		$	34,812
Foreign currency translation adjustment, net of deferred taxes		(2,790	)		774		(2,659	)		260
Unrealized gain on derivative instruments, net of deferred taxes		—			232		372			578
Comprehensive income	$	4,102		$	10,649	$	25,741		$	35,650

Changes in shareholders’ equity accounts for the nine months ended November 30, 2011 are as follows (in thousands):

											Accumulated
					Additional						Other
	Common Stock				Paid-in			Retained			Comprehensive			Treasury Stock
	Shares		Amount		Capital			Earnings			Income (Loss)			Shares			Amount			Total
Balance February 28, 2011		30,053,443	$	75,134	$	121,306		$	234,636		$	(8,448	)		(4,197,567	)	$	(74,945	)	$	347,683
Net earnings		—		—		—			28,028			—			—			—			28,028
Foreign currency translation, net of deferred tax of $(1,528)		—		—		—			—			(2,659	)		—			—			(2,659	)
Unrealized gain on derivative instruments, net of deferred tax benefit of $214		—		—		—			—			372			—			—			372
Comprehensive income																					25,741
Dividends declared
($.465 per share)		—		—		—			(12,093	)		—			—			—			(12,093	)
Stock based compensation		—		—		762			—			—			—			—			762
Exercise of stock options and restricted stock grants		—		—		(945	)		—			—			64,149			1,145			200
Stock repurchases		—		—		—			—			—			(100	)		(2	)		(2	)
Balance November 30, 2011		30,053,443	$	75,134	$	121,123		$	250,571		$	(10,735	)		(4,133,518	)	$	(73,802	)	$	362,291

On October 20, 2008, the Board of Directors authorized the repurchase of up to $5.0 million of the common stock through a stock repurchase program. Under the board-approved repurchase program, share purchases may be made from time to time in the open market or through privately negotiated transactions depending on market conditions, share price, trading volume and other factors, and such purchases, if any, will be made in accordance with applicable insider trading and other securities laws and regulations. These repurchases may be commenced or suspended at any time or from time to time without prior notice. While no shares have been repurchased during the last fiscal year or during the current fiscal year under the program, there have been a total of 96,000 shares of common stock that have been purchased under the repurchase program since its inception at an average price per share of $10.45. Unrelated to the stock repurchase program, the Company purchased 100 shares of common stock during the nine months ended November 30, 2011.