Consolidated Statements of Cash Flows (Unaudited) - USD ($)
|
9 Months Ended |
Nov. 30, 2016 |
Nov. 30, 2015 |
| Cash Flows From Operating activities |
|
|
| Net income |
$ 2,718,446
|
$ 2,947,215
|
| Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
| Depreciation and amortization |
962,632
|
1,064,211
|
| Provision for slow moving inventory |
61,061
|
68,175
|
| Provision for loss on accounts and notes receivable |
109,200
|
129,000
|
| Loss on sale or disposal of property and equipment |
18,783
|
90,149
|
| Expense recorded for stock compensation |
447,581
|
615,740
|
| Deferred income |
14,710
|
(430,043)
|
| Deferred income taxes |
237,131
|
100,108
|
| Changes in operating assets and liabilities: |
|
|
| Accounts receivable |
(650,708)
|
50,028
|
| Refundable income taxes |
(284,927)
|
|
| Inventories |
(771,281)
|
121,220
|
| Other current assets |
(39,008)
|
(9,182)
|
| Accounts payable |
156,150
|
(321,489)
|
| Accrued liabilities |
17,281
|
179,878
|
| Net cash provided by operating activities |
2,997,051
|
4,605,010
|
| Cash Flows From Investing Activities |
|
|
| Addition to notes receivable |
(131,243)
|
(46,489)
|
| Proceeds received on notes receivable |
255,907
|
259,619
|
| Purchase of intangible assets |
(307,023)
|
(54,479)
|
| Proceeds from sale of assets |
33,845
|
23,692
|
| Purchases of property and equipment |
(1,048,667)
|
(625,180)
|
| Decrease (increase) in other assets |
25,402
|
(115,407)
|
| Net cash used in investing activities |
(1,171,779)
|
(558,244)
|
| Cash Flows From Financing Activities |
|
|
| Payments on long-term debt |
(935,794)
|
(901,560)
|
| Repurchase of common stock |
(351,584)
|
(3,030,708)
|
| Tax (expense) benefit of stock awards |
(34,128)
|
19,868
|
| Dividends paid |
(2,102,261)
|
(2,137,817)
|
| Net cash used in financing activities |
(3,423,767)
|
(6,050,217)
|
| Net Decrease in Cash and Cash Equivalents |
(1,598,495)
|
(2,003,451)
|
| Cash and Cash Equivalents, Beginning of Period |
6,194,948
|
7,157,371
|
| Cash and Cash Equivalents, End of Period |
$ 4,596,453
|
$ 5,153,920
|