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Covid-19 Pandemic
6 Months Ended
Aug. 31, 2020
Extraordinary And Unusual Items [Abstract]  
Covid-19 Pandemic

16. COVID-19 Pandemic

On March 11, 2020, the World Health Organization declared the ongoing COVID-19 outbreak to be a global pandemic.  In response to the rapid spread of COVID-19 within the United States, federal, state and local governments have imposed varying degrees of restrictions on social and commercial activity to promote social distancing in an effort to slow the spread of the illness.  Due to the Company’s involvement in healthcare, government, food and beverage and banking, the Company’s plants have been deemed “essential” and, as such, the Company has continued to operate most of its manufacturing facilities, albeit at reduced production levels.  Due to reduced demand for our products during the pandemic, particularly in our transactional forms, the Company has furloughed 320 employees, ceased operating in one of its owned under-utilized facilities and exited two facilities with expiring leases.  

While economic activity remains depressed due to the pandemic, the Company will continue to monitor projected sales and proactively adjust costs as necessary.  The Company believes the cost cutting measures it has implemented thus far will not impact its ability to service increased customer demand when economic conditions improve.  While certain parts of the economy have begun to reopen as restrictions have been lifted, it is possible that additional restrictions will be put in place in the future, and the impact of COVID-19 is expected to continue to present challenges to the Company’s business, including by depressing demand for some of the Company’s products, for an indeterminate period.  As a result, for the remainder of fiscal year 2021, the Company believes that it may report lower sales and earnings than it would have absent the impact of the pandemic.  The extent of COVID-19’s impact will depend on numerous factors that are unknown, uncertain and cannot be predicted.