Shareholders' Equity

3 Months Ended

May. 31, 2015

Equity [Abstract]

Shareholders' Equity

8. Shareholders’ Equity

Changes in shareholders’ equity accounts for the three months ended May 31, 2015 are as follows (in thousands, except share amounts):

	Common Stock				Additional Paid-in Capital			Retained Earnings			Accumulated Other Comprehensive Income (Loss)			Treasury Stock						Total
	Shares		Amount											Shares			Amount
Balance March 1, 2015		30,053,443	$	75,134	$	121,687		$	188,413		$	(22,197	)		(4,514,905	)	$	(78,357	)	$	284,680
Net earnings		—		—		—			9,171			—			—			—			9,171
Foreign currency translation, net of deferred tax of $407		—		—		—			—			(664	)		—			—			(664	)
Dividends paid ($.175 per share)		—		—		—			(4,496	)		—			—			—			(4,496	)
Stock based compensation		—		—		332			—			—			—			—			332
Exercise of stock options and restricted stock grants		—		—		(1,352	)		—			—			77,900			1,352			—
Balance May 31, 2015		30,053,443	$	75,134	$	120,667		$	193,088		$	(22,861	)		(4,437,005	)	$	(77,005	)	$	289,023

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. 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. The Board increased the authorized amount available to repurchase the Company’s shares by an additional $5.0 million on April 20, 2012 and by another $10.0 million on December 19, 2014. There were no repurchases of common stock during the three months ended May 31, 2015 and have been 718,511 common shares repurchased under the program since its inception at an average price of $13.74 per share. There is currently $10.1 million available to repurchase the Company’s common stock under the program.