Unaudited Consolidated Statements of Cash Flows - USD ($)
$ in Thousands |
3 Months Ended |
May 31, 2016 |
May 31, 2015 |
| Cash flows from operating activities: |
|
|
| Net earnings (loss) |
$ (16,878)
|
$ 9,171
|
| Adjustments to reconcile net earnings (loss) to net cash provided by operating activities: |
|
|
| Depreciation |
1,983
|
1,813
|
| Amortization of trade names, customer lists, and patent |
1,159
|
1,125
|
| Pre-tax loss on sale of discontinued operations |
36,775
|
|
| Operating cash flows of discontinued operations |
538
|
11,323
|
| (Gain) loss from disposal of assets |
6
|
(2)
|
| Bad debt expense (recovery) |
(19)
|
207
|
| Stock based compensation |
339
|
332
|
| Changes in operating assets and liabilities, net of the effects of acquisitions: |
|
|
| Accounts receivable |
586
|
3,789
|
| Prepaid expenses and income taxes |
(7,576)
|
2,217
|
| Inventories |
124
|
(581)
|
| Other assets |
6
|
219
|
| Accounts payable and accrued expenses |
(2,649)
|
126
|
| Other liabilities |
14
|
(293)
|
| Liability for pension benefits |
639
|
552
|
| Net cash provided by operating activities |
15,047
|
29,998
|
| Cash flows from investing activities: |
|
|
| Capital expenditures |
(428)
|
(1,176)
|
| Purchase of businesses, net of cash acquired |
(617)
|
|
| Proceeds from sale of discontinued operations |
107,354
|
|
| Investing cash flows of discontinued operations |
(279)
|
(43)
|
| Proceeds from disposal of plant and property |
7
|
16
|
| Net cash provided by (used in) investing activities |
106,037
|
(1,203)
|
| Cash flows from financing activities: |
|
|
| Repayment of debt |
(5,000)
|
(17,530)
|
| Dividends |
(4,530)
|
(4,496)
|
| Financing cash flows of discontinued operations |
|
(3,470)
|
| Proceeds from exercise of stock options |
2,910
|
|
| Net cash used in financing activities |
(6,620)
|
(25,496)
|
| Effect of exchange rate changes on cash |
|
(332)
|
| Net change in cash |
114,464
|
2,967
|
| Cash at beginning of period |
7,957
|
13,357
|
| Cash at end of period |
$ 122,421
|
$ 16,324
|