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Gain on Sale of Property, Plant and Equipment
9 Months Ended
Nov. 30, 2012
Gain on Sale of Property Plant and Equipment [Abstract]  
Gain on Sale of Property Plant and Equipment

Note 9. – Gain on Sale of Property, Plant and Equipment

On July 5, 2012 the Company sold its property at 8-18 Riverside Drive in White Mills, PA for $750 thousand. The Company received a $60 thousand down payment and financed the remaining $690 thousand on a ten-year note at an 8% interest rate. The Company is accounting for the sale on the installment method. The total gain on the sale is approximately $602 thousand. The Company recognized approximately $48 thousand of the gain at the time of the sale and the remaining gain of approximately $554 thousand will be recognized as payments are received.