Note 6 - Shareholders' Equity

12 Months Ended

Feb. 28, 2016

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

6.           

S

HAREHOLDERS’ EQUITY

Shareholders’ Rights Plan

– On July 20, 2005, the Board of Directors renewed the Company’s shareholders’ rights plan on substantially the same terms as its previous rights plan which expired in July 2005. In accordance with such plan, a right (the “Right”) to purchase from the Company a unit consisting of one one-thousandth (1/1,000) of a share (a “Unit”) of Series B Junior Participating Preferred Stock, par value $1.00 per share (the “Series B Preferred Stock”), at a purchase price of $150 (the “Purchase Price”) per Unit, subject to adjustment and exercisable as provided in the plan, was attached to each outstanding share of the Company’s common stock. The Rights expired on July 20, 2015.

Treasury Stock

– On January 8, 2015, the Company announced that its Board of Directors has 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 This authorization superseded all prior Board of Directors’ authorizations to purchase shares of the Company’s common stock. (See Note 16 for additional information).

The Company announced on October 18, 2012 that its Board of Directors had authorized the Company’s purchase, on the open market and in privately negotiated transactions, of up to 1,000,000 shares of its common stock, representing approximately 5% of the Company’s total outstanding shares at that time.

During the 2016 and 2015 fiscal years, the Company purchased 599,832 and 126,564 shares, respectively, pursuant to the above authorizations at an aggregate purchase price of $12,187 and $2,738, respectively, leaving 531,412 shares that may be purchased pursuant to the January 8, 2015 authorization. In addition, the Company purchased three shares during the 2015 fiscal year not pursuant to such authorizations.

Reserved Common Shares

– At February 28, 2016, 1,466,030 shares of common stock were reserved for issuance upon exercise of stock options.

Accumulated Other Comprehensive

Earnings

– Accumulated balances related to each component of other comprehensive earnings were as follows:

	February 28, 2016		March 1, 2015
Currency translation adjustment	$	1,330	$	1,268
Unrealized gains on investments, net of taxes of $76 and $108, respectively		141		200
Accumulated balance	$	1,471	$	1,468