QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

12 Months Ended

Feb. 28, 2017

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

NOTE 18 – QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

The following summarizes certain quarterly statement of operations data for each of the quarters in fiscal years 2017 and 2016 (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 2017
	First			Second			Third			Fourth
	Quarter			Quarter			Quarter			Quarter			Total
Revenues	$	91,147		$	90,479		$	83,350		$	86,126		$	351,102
Gross profit		34,834			37,614			35,117			35,787			143,352
Gross margin		38.2	%		41.6	%		42.1	%		41.6	%		40.8	%
Net income (loss)		(2,659	)		521			(1,527	)		(4,239	)		(7,904	)
Earnings (loss) per diluted share		(0.07	)		0.01			(0.04	)		(0.12	)		(0.22	)
	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

The net loss in the fiscal 2017 fourth quarter includes a litigation provision of $7.2 million. The loss contingency from litigation is described in Note 16 - Legal Proceedings.