Note 9 - Shareholders' Equity

3 Months Ended

May. 31, 2015

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

9

.     SHAREHOLDERS’ EQUITY

During the 13 weeks ended May 31, 2015, the Company issued 2,500 shares pursuant to the exercises of stock options and received proceeds from such exercises and recognized stock-based compensation expense, net of recognized tax benefits, of $50 and $419, respectively. These transactions resulted in a $469 increase in additional paid-in capital during the period.

On January 8, 2015, the Company announced that its Board of Directors had authorized the Company’s purchase, on the open market and in privately negotiated transactions, of up to 1,250,000 shares of its common stock, representing approximately 6% of the Company’s 20,945,634 total outstanding shares as of the close of business on January 7, 2015. This authorization supersedes all prior Board of Directors’ authorizations to purchase shares of the Company’s common stock.

Pursuant to the share purchase authorization announced on January 8, 2015, the Company purchased an aggregate of 444,834 shares during the 13 weeks ended May 31, 2015 at an average purchase price per share of $21.32 and an aggregate purchase price of $9,493, leaving 686,410 shares that may be purchased by the Company pursuant to the aforementioned share purchase authorization. All of such 444,834 shares were purchased by the Company pursuant to a Rule 10b5-1 Stock Purchase Plan established by the Company on February 13, 2015 and terminated by the Company on April 24, 2015. Additional purchases by the Company pursuant to the aforementioned share purchase authorization may occur from time to time in the future. As previously announced by the Company, shares purchased by the Company will be retained as treasury stock and will be available for use under the Company’s stock option plan and for other corporate purposes.