Equity and Compensation Plans (Tables)

12 Months Ended

Feb. 28, 2013

The following tables summarize stock option activity for fiscal 2013:


	Options Outstanding
Stock Option Activity	Directors			Key Employees		Weighted Average Exercise Price		Aggregate Intrinsic Value (in $000’s)
Outstanding as of February 29, 2012		18,087			488,138	$	5.84	$	1,472
Granted		—			200,000		8.75
Exercised		—			—		—
Canceled/Forfeited		(14,550	)		—	$	11.00
Outstanding as of February 28, 2013		3,537			688,138	$	6.57	$	2,479
Exercisable as of February 28, 2013		3,537			113,138	$	8.10
Vested or Expected to Vest as of February 28, 2013		3,537			688,138	$	6.57	$	2,479

Weighted Average Assumptions Used for Option Grants

The following weighted average assumptions were used for the option grants in fiscal 2013 and 2012:


	2013			2012
Dividend Yield		0.0	%		0.0	%
Risk-Free Interest Rate		0.7	%		2.5	%
Expected Volatility		58.8	%		58.8	%
Expected Life (in Years)		5.0			6.5

Stock Options Outstanding and Stock Options Exercisable

The following table shows stock options outstanding and stock options exercisable at February 28, 2013:


	Options Outstanding as of February 28, 2013								Exercisable Options as of February 28, 2013
Range of Exercise Prices	Shares		Weighted Average Remaining Life (Years)		Weighted Average Exercise Price		Aggregate Intrinsic Value (000s)		Shares		Weighted Average Exercise Price		Aggregate Intrinsic Value (000s)
$ 2.00 - $ 5.00		175,000		4.0	$	2.00				—	$	0.00
$ 5.01 - $ 8.00		313,138		5.0	$	7.68				113,138	$	8.00
$ 8.01 - $11.00		200,000		6.0	$	8.75				—	$	0.00
$11.01 - $14.05		3,537		1.0	$	11.31				3,537	$	11.31
$ 2.00 - $14.05		691,675		5.0	$	6.57	$	2,479		116,675	$	8.10	$	243

Restricted Stock Transactions

The following table summarizes restricted stock transactions for fiscal 2012 and 2013:


Unvested as of February 28, 2011	30,000
Granted	—
Vested	—
Canceled	—
Unvested as of February 29, 2012	30,000
Granted	17,330
Vested	(10,554	)
Canceled	(146	)
Unvested as of February 28, 2013	36,630

Purchases of Common Stock During Last Three Fiscal Years

The following table provides information about Company purchases of common stock (in thousands).


Period	Total Number of Shares Purchased		Total Cost		Total Number of Shares Purchased as Part of a Written Trading Plan⁽¹⁾		Maximum Number of Shares that May Yet Be Purchased
March 1, 2010 – February 28, 2011		16		111		16		1,098
March 1, 2011 – February 29, 2012		2,450		17,538		2,450		648
March 1, 2012 – February 28, 2013		283		2,233		283		364
Total		2,749	$	19,882		2,749

(1)

On February 25, 2011, the Company entered into a written trading plan as part of the existing share repurchase program. The plan expired on May 26, 2011, when all of the shares authorized in the plan had been purchased. On May 27, 2011, the Company entered into a written trading plan to purchase up to 1,000,000 shares as part of the existing share repurchase program. The plan commenced on June 1, 2011, and expired on September 22, 2011, when 1,000,000 shares had been repurchased. On October 10, 2011, MSC entered into a new written trading plan to purchase up to 1,000,000 shares. 448,147 shares were purchased under this plan before it was replaced on July 16, 2012, by a new written trading plan to purchase up to 551,853 shares. 187,377 shares were purchased under the July 2012 plan before it expired on February 15, 2013. On February 15, 2013, MSC entered into a new written trading plan to purchase up to 364,476 shares. All of the trading plans were written under Rule 10b5-1 of the Exchange Act. As of February 28, 2013, all 364,476 shares remained to be purchased under this trading plan.

- Definition

Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

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- Definition

Tabular disclosure of an entity's treasury stock, including the average cost per share, carrying basis for each class of treasury stock, description of share repurchase program authorized by an entity's board of directors, the number of shares repurchased, the cost of the shares repurchased, the remaining maximum dollar value of shares available for repurchase under the program, the treatment of the purchase price in excess of the current market value, number of shares held for each class of treasury stock, and other information necessary to a fair presentation.

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