DISCONTINUED OPERATIONS (Tables)

12 Months Ended

Feb. 28, 2021

Discontinued Operations And Disposal Groups [Abstract]

Summary of Financial Results of Discontinued Operations

The below table presents the amounts by balance sheet classification related to our discontinued operations (in thousands):

	As of February 28/29,
	2021		2020
Carrying amounts of the major classes of assets included in discontinued operations:
Accounts receivable, net	$	5,050	$	7,634
Inventories		1,721		4,306
Prepaid expenses and other current assets		1,101		978
Current assets of discontinued operations	$	7,872	$	12,918
Goodwill	$	-	$	12,023
Other intangible assets, net		-		2,941
Other assets		-		254
Non-current assets of discontinued operations		-		15,218
	$	7,872	$	28,136
Carrying amounts of the major classes of liabilities included in discontinued operations:
Accounts payable	$	1,956	$	3,815
Deferred revenue		1,849		2,277
Other current liabilities		291		1,654
Current liabilities of discontinued operations		4,096		7,746
Other non-current liabilities		1,773		2,808
Non-current liabilities of discontinued operations		1,773		2,808
	$	5,869	$	10,554

The amounts in the statement of operations that are included in discontinued operations are summarized in the following table (in thousands):

	Year Ended February 28/29
	2021			2020			2019
Revenues	$	32,692		$	44,334		$	52,262
Cost of revenues		21,133			26,524			30,376
Gross profit		11,559			17,810			21,886
Operating expenses:
Research and development		1,441			2,443			2,115
Selling and marketing		9,988			13,155			12,219
General and administrative		7,041			8,190			8,113
Intangible asset amortization		2,199			6,450			7,505
Restructuring		2,220			1,935			5,716
Impairment losses		23,822			13,389			-
Total operating expenses		46,711			45,562			35,668
Operating loss		(35,152	)		(27,752	)		(13,782	)
Non-operating income		-			-			10,790
Loss from discontinued operations before income taxes		(35,152	)		(27,752	)		(2,992	)
Income tax benefit		-			-			718
Net loss from discontinued operations, net of tax	$	(35,152	)	$	(27,752	)	$	(2,274	)

The amounts in the statement of cash flow that are included in discontinued operations are summarized in the following table (in thousands):

	Year Ended February 28/29
	2021			2020			2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss from discontinued operations, net of tax	$	(35,152	)	$	(27,752	)	$	(2,274	)
Adjustments to reconcile net loss from discontinued operations to net cash provided by (used in) operating activities:
Depreciation		2,260			2,225			2,725
Intangible asset amortization		2,199			6,450			7,505
Stock-based compensation		1,516			1,754			1,490
Impairment losses		23,822			14,599			-
Noncash operating lease cost		4,901			3,360			-
Deferred tax assets, net		-			-			(719	)
Changes in operating assets and liabilities:
Accounts receivable		2,584			2,053			(833	)
Inventories		2,585			2,456			400
Prepaid expenses and other current assets		(123	)		2,376			(2,699	)
Accounts payable		(1,859	)		1,158			(156	)
Accrued liabilities		(1,363	)		(627	)		(2,460	)
Deferred revenue		(428	)		(70	)		88
Operating lease liabilities		(5,354	)		(3,275	)		-
NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES FROM DISCONTINUED OPERATIONS		(4,412	)		4,707			3,067
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures		(2,338	)		(891	)		(1,608	)
NET CASH USED IN INVESTING ACTIVITIES FROM DISCONTINUED OPERATOINS		(2,338	)		(891	)		(1,608	)
Net change in cash and cash equivalents		(6,750	)		3,816			1,459