Shareholders' Equity

9 Months Ended

Nov. 30, 2013

Equity [Abstract]

Shareholders' Equity

8. Shareholders’ Equity

Changes in shareholders’ equity accounts for the nine months ended November 30, 2013 are as follows (in thousands, except share amounts):

											Accumulated
					Additional						Other
	Common Stock				Paid-in			Retained			Comprehensive			Treasury Stock
	Shares		Amount		Capital			Earnings			Income (Loss)			Shares			Amount			Total
Balance February 28, 2013		30,053,443	$	75,134	$	122,186		$	251,713		$	(14,903	)		(4,084,765	)	$	(72,914	)	$	361,216
Net earnings		—		—		—			27,656			—			—			—			27,656
Foreign currency translation, net of deferred tax of $424		—		—		—			—			(685	)		—			—			(685	)
Dividends declared ($.35 per share)		—		—		—			(9,175	)		—			—			—			(9,175	)
Stock based compensation		—		—		1,159			—			—			—			—			1,159
Exercise of stock options and restricted stock grants		—		—		(1,192	)		—			—			71,753			1,281			89
Stock repurchases		—		—		—			—			—			(112	)		(2	)		(2	)
Balance November 30, 2013		30,053,443	$	75,134	$	122,153		$	270,194		$	(15,588	)		(4,013,124	)	$	(71,635	)	$	380,258

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 three fiscal years 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. On April 20, 2012, the Board increased the authorized amount available to repurchase our shares by an additional $5.0 million, bringing the total available to repurchase the Company’s common stock to approximately $9.0 million. Unrelated to the stock repurchase program, the Company purchased 112 shares of common stock during the nine months ended November 30, 2013.