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Long-Term Debt
12 Months Ended
Mar. 03, 2013
Long-Term Debt [Abstract]  
Long-Term Debt

11. LONG-TERM DEBT

     On January 30, 2013, the Company entered into a five-year revolving credit facility agreement ("Credit Agreement") with PNC Bank, National Association. The Credit Agreement provides for loans up to $52,000 (the "Facility") to the Company and letters of credit up to $2,000 for the account of the Company. To date, the Company has borrowed $52,000 to finance a special dividend paid to shareholders of the Company in the 2013 fiscal year fourth quarter, and PNC Bank has issued two standby letters of credit for the account of the Company in the total amount of $1,166 to secure the Company's obligations under its workers' compensation insurance program. The amount outstanding under the Credit Agreement is payable on January 30, 2018.

     Borrowings under the Facility bear interest at a rate equal to, at the Company's option, either a (a) LIBOR rate option determined by a fluctuating rate per annum equal to the LIBOR Rate plus 1.15% or (b) base rate option determined by a fluctuating rate per annum equal to the highest of (i) the Federal Funds Open Rate (as defined in the Credit Agreement) plus 0.5%, (ii) the Prime Rate (as defined in the Credit Agreement), and (iii) the Daily LIBOR Rate (as defined in the Credit Agreement) plus 1.0%. Under the Credit Agreement, the Company also is obligated to pay a nonrefundable commitment fee, accruing from January 30, 2013 until the earlier of January 30, 2018 and the date on which the Credit Agreement is terminated, equal to 0.20% per annum multiplied by the average daily difference between the amount of (a) the revolving credit commitment and (b) the revolving facility usage, payable quarterly in arrears.

     The Credit Agreement also contains certain customary affirmative and negative covenants and customary financial covenants that require the Company to maintain a minimum interest coverage ratio of 3.00 to 1.00 and not to exceed a maximum funded debt ratio of 3.00 to 1.00 at the end of each fiscal quarter. As of March 3, 2013, the Company was in compliance with these financial covenants. The dividend covenant permits the Company to pay regular quarterly dividends in amounts not exceeding $0.10 per share. The Company's obligations under the Credit Agreement are guaranteed by its Nelco Products, Inc., Neltec, Inc. and Park Aerospace Technologies Corp. subsidiaries and secured by a pledge of 65% of the capital stock of the Company's Nelco Products Pte. Ltd. subsidiary in Singapore.

     The Facility is available to (i) support working capital and general corporate needs, including the issuance of letters of credit, (ii) fund special distributions to the Company's shareholders permitted under the Facility, and (iii) finance on-going capital expenditures and acquisitions. At March 3, 2013, $52,000 of indebtedness was outstanding under the Facility with an interest rate of 1.40%. Interest expense recorded under the Facility was approximately $14 during the 2013 fiscal year, which is included in interest and other income, net on the Consolidated Statements of Operations.