INCOME TAXES	3 Months Ended
May 31, 2013
INCOME TAXES [Abstract]
INCOME TAXES	NOTE 6 - INCOME TAXES Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and for income tax purposes. The Company evaluates the realizability of its deferred income tax assets and a valuation allowance is provided, as necessary. In assessing the need for a valuation allowance, the Company reviews historical and future expected operating results and other factors, including its recent cumulative earnings experience, expectations of future taxable income by taxing jurisdiction and the net operating loss and tax credit carryforward periods available for tax reporting purposes, to determine whether it is more likely than not that deferred tax assets are realizable. The Company files income tax returns in the U.S. federal jurisdiction, various U.S. states, Canada and New Zealand. Income tax returns filed for fiscal years 2008 and earlier are not subject to examination by U.S. federal and state tax authorities. Certain income tax returns for fiscal years 2009 through 2013 remain open to examination by U.S. federal and state tax authorities. Income tax returns for fiscal years 2010 through 2013 remain open to examination by tax authorities in Canada. The Company believes that it has made adequate provision for all income tax uncertainties pertaining to these open tax years. At May 31, 2013, the Company had a net deferred income tax asset balance of $40 million. The current portion of the deferred tax assets is $6.8 million and the non-current portion is $33.2 million. The net deferred income tax asset balance is comprised of a gross deferred tax asset of $44 million and a valuation allowance of $4 million. The effective income tax rate was 37.8% and 0.2% in the three months ended May 31, 2013 and 2012, respectively. The lower effective tax rate in 2012 was attributable primarily to the fact that during the three months ended May 31, 2012 the income tax provision was offset by a reduction of the deferred tax asset valuation allowance. In the three months ended May 31, 2013, there was no reduction in the valuation allowance.

INCOME TAXES

3 Months Ended

May 31, 2013

NOTE 6 - INCOME TAXES

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and for income tax purposes. The Company evaluates the realizability of its deferred income tax assets and a valuation allowance is provided, as necessary. In assessing the need for a valuation allowance, the Company reviews historical and future expected operating results and other factors, including its recent cumulative earnings experience, expectations of future taxable income by taxing jurisdiction and the net operating loss and tax credit carryforward periods available for tax reporting purposes, to determine whether it is more likely than not that deferred tax assets are realizable.

The Company files income tax returns in the U.S. federal jurisdiction, various U.S. states, Canada and New Zealand. Income tax returns filed for fiscal years 2008 and earlier are not subject to examination by U.S. federal and state tax authorities. Certain income tax returns for fiscal years 2009 through 2013 remain open to examination by U.S. federal and state tax authorities. Income tax returns for fiscal years 2010 through 2013 remain open to examination by tax authorities in Canada. The Company believes that it has made adequate provision for all income tax uncertainties pertaining to these open tax years.

At May 31, 2013, the Company had a net deferred income tax asset balance of $40 million. The current portion of the deferred tax assets is $6.8 million and the non-current portion is $33.2 million. The net deferred income tax asset balance is comprised of a gross deferred tax asset of $44 million and a valuation allowance of $4 million.

The effective income tax rate was 37.8% and 0.2% in the three months ended May 31, 2013 and 2012, respectively. The lower effective tax rate in 2012 was attributable primarily to the fact that during the three months ended May 31, 2012 the income tax provision was offset by a reduction of the deferred tax asset valuation allowance. In the three months ended May 31, 2013, there was no reduction in the valuation allowance.