Shareholders' Equity

6 Months Ended

Aug. 31, 2016

Equity [Abstract]

Shareholders' Equity

9. Shareholders’ Equity

Changes in shareholders’ equity accounts for the six months ended August 31, 2016 are as follows (in thousands, except share amounts):

	Common Stock				Additional Paid-in			Retained			Accumulated Other Comprehensive			Treasury Stock
	Shares		Amount		Capital			Earnings			Income (Loss)			Shares			Amount			Total
Balance March 1, 2016		30,053,443	$	75,134	$	121,597		$	206,105		$	(27,285	)		(4,437,005	)	$	(77,005	)	$	298,546
Net loss		—		—		—			(10,094	)		—			—			—			(10,094	)
Foreign currency translation, net of deferred tax of $6,087		—		—		—			—			9,940			—			—			9,940
Dividends paid ($1.85 per share)		—		—		—			(48,187	)		—			—			—			(48,187	)
Stock based compensation		—		—		679			—			—			—			—			679
Stock based compensation allocated to loss on sale of discontinued operations		—		—		112			—			—			—			—			112
Exercise of stock options and restricted stock		—		—		(1,810	)		—			—			282,988			4,720			2,910
Stock repurchases		—		—		—			—			—			(103,705	)		(1,786	)		(1,786	)
Balance August 31, 2016		30,053,443	$	75,134	$	120,578		$	147,824		$	(17,345	)		(4,257,722	)	$	(74,071	)	$	252,120

The Board has authorized the repurchase of up to an aggregate of $20.0 million of the Company’s outstanding common stock through a stock repurchase program. Under the 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.

During the six months ended August 31, 2016, the Company repurchased 103,705 shares of common stock at an average price of $17.22 per share. Since the program’s inception in October 2008, there has been 822,216 common shares repurchased at an average price of $14.18 per share. As of August 31, 2016 there was $8.3 million available to repurchase shares of the Company’s common stock under the program.