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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
May 31, 2024
May 31, 2023
Cash flows from operating activities:    
Net loss $ (10,177) $ (11,705)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:    
Depreciation and amortization 2,864 3,247
Amortization of debt discount 103 96
Bad debt (recovery) expense (9) 16
Reduction in the carrying amount of the right of use asset 313 365
Loss on contribution of assets to joint venture 413  
Equity in income of equity investees (351) (1,616)
Distribution of income from equity investees 958 1,596
Deferred income tax benefit (80) (232)
Non-cash compensation adjustment (67) (154)
Stock based compensation expense 146 258
(Gain) loss on disposal of property, plant, and equipment 0 (33)
Gain on sale of intangible asset 0 (450)
Changes in operating assets and liabilities:    
Accounts receivable 6,247 17,401
Inventory 10,442 (9,321)
Receivables from vendors 2 (23)
Prepaid expenses and other 4,315 (1,086)
Investment securities-trading 67 154
Accounts payable, accrued expenses, accrued sales incentives, contract liabilities, and other liabilities (14,715) 8,220
Income taxes payable (2,554) (1,480)
Net cash (used in) provided by operating activities (2,083) 5,253
Cash flows from investing activities:    
Purchases of property, plant, and equipment (648) (817)
Proceeds from sale of property, plant, and equipment 0 33
Net cash used in investing activities (648) (784)
Cash flows from financing activities:    
Principal payments on finance lease obligation (105) (70)
Repayment of bank obligations (43,749) (39,546)
Borrowings on bank obligations 39,261 37,089
Deferred financing costs 0 (55)
Settlement of market stock unit awards (1,000) 0
Purchase of treasury stock (246) (4,113)
Net cash used in financing activities (5,839) (6,695)
Effect of exchange rate changes on cash 1,744 1,327
Net decrease in cash and cash equivalents (6,826) (899)
Cash and cash equivalents at beginning of period 10,986 6,134
Cash and cash equivalents at end of period $ 4,160 $ 5,235