XML 52 R8.htm IDEA: XBRL DOCUMENT v2.4.0.8
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Feb. 28, 2014
Feb. 28, 2013
Feb. 29, 2012
Cash flows from operating activities:      
Net earnings $ 13,189 $ 24,715 $ 31,358
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation 9,854 9,957 9,521
Amortization of deferred finance charges 149 149 432
Amortization of trade names, customer lists, and patent 4,216 3,278 2,431
Impairment of goodwill and trademarks 24,226    
(Gain) loss from disposal of assets (274) 2 (137)
Bad debt expense 3,024 743 144
Stock based compensation 1,532 1,459 1,025
Excess tax benefit of stock based compensation (17) (66) (63)
Deferred income taxes (1,900) 1,263 781
Changes in operating assets and liabilities, net of the effects of acquisitions:      
Accounts receivable (1,909) (1,400) 7,951
Prepaid expenses 2,953 347 (6,134)
Inventories (16,415) 18,293 (21,809)
Other current assets (442) (327) 564
Other assets 197 (49) (68)
Accounts payable and accrued expenses (4,913) (7,251) 135
Other liabilities 204 (311) (197)
Liability for pension benefits (919) (845) (1,361)
Net cash provided by operating activities 32,755 49,957 24,573
Cash flows from investing activities:      
Capital expenditures (4,646) (2,560) (5,087)
Purchase price of businesses, net of cash acquired (61,857)   (45,956)
Adjustment to purchase price of businesses acquired   3,737  
Proceeds from disposal of plant and property 992 18 233
Net cash provided by (used in) investing activities (65,511) 1,195 (50,810)
Cash flows from financing activities:      
Borrowings on debt 73,000 5,000 40,000
Repayment of debt (25,000) (37,500)  
Deferred financing charges     (455)
Dividends (13,765) (22,864) (16,132)
Purchase of treasury stock (1,838) (2) (2)
Proceeds from exercise of stock options 94 85 217
Excess tax benefit of stock based compensation 17 66 63
Net cash provided by (used in) financing activities 32,508 (55,215) 23,691
Effect of exchange rate changes on cash (668) (115) 651
Net change in cash (916) (4,178) (1,895)
Cash at beginning of period 6,232 10,410 12,305
Cash at end of period $ 5,316 $ 6,232 $ 10,410