QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

12 Months Ended

Feb. 29, 2016

QUARTERLY FINANCIAL INFORMATION (UNAUDITED) [Abstract]

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

NOTE 17 – QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

The following summarizes certain quarterly statement of operations data for each of the quarters in fiscal years 2016 and 2015 (in thousands, except percentages and per share data). The operating results in any quarter are not necessarily indicative of the results that may be expected for any future period. The Company derived this data from the unaudited consolidated interim financial statements that, in the Company's opinion, have been prepared on substantially the same basis as the audited financial statements contained elsewhere in this report and include all normal recurring adjustments necessary for a fair presentation of the financial information for the periods presented. These unaudited quarterly results should be read in conjunction with the financial statements and notes thereto included elsewhere in this report.

	Fiscal 2016
	First			Second			Third			Fourth
	Quarter			Quarter			Quarter			Quarter			Total
Revenues	$	65,429		$	69,808		$	74,675		$	70,807		$	280,719
Gross profit		23,526			25,303			26,574			27,556			102,959
Gross margin		36.0	%		36.2	%		35.6	%		38.9	%		36.7	%
Net income		4,059			3,499			3,876			5,506			16,940
Earnings per diluted share		0.11			0.10			0.10			0.15			0.46

	Fiscal 2015
	First			Second			Third			Fourth
	Quarter			Quarter			Quarter			Quarter			Total
Revenues	$	58,981		$	59,210		$	63,225		$	69,190		$	250,606
Gross profit		20,219			20,496			22,104			24,585			87,404
Gross margin		34.3	%		34.6	%		35.0	%		35.5	%		34.9	%
Net income		2,693			3,278			4,021			6,516			16,508
Earnings per diluted share		0.07			0.09			0.11			0.18			0.45

The net income in the fiscal 2016 fourth quarter includes acquisition expenses of $2.0 million related to the acquisition of LoJack, an unrealized gain on investment in LoJack common stock of $1.4 million, a litigation provision of $2.9 million, and an income tax benefit of $2.4 million primarily attributable to the reduction of the deferred tax assets valuation allowance and the recognition of federal R&D tax credits. The LoJack acquisition is discussed in Note 18. The loss contingency from litigation is described in Note 15 – Legal Proceedings.