Financial and Product Information About Foreign and Domestic Operations

12 Months Ended

Feb. 28, 2014

Financial and Product Information About Foreign and Domestic Operations [Abstract]

Segment Reporting Disclosure [Text Block]

Financial and Product Information About Foreign and Domestic Operations

Segment

In connection with recent acquisitions, effective December 1, 2012, we reorganized our financial reporting into three distinct operating segments based upon our products and our internal organizational structure. The three operating segments, which are also the Company's reportable segments, are Automotive, Premium Audio and Consumer Accessories.

Our Automotive segment designs, manufactures, distributesand markets rear-seat entertainment devices, satellite radio products, automotive security, remote start systems, digital TV tuners, mobile antennas, mobile multimedia devices, aftermarket/OE-styled radios, car link-smartphone telematics application, collision avoidance systems and location-based services.

Our Premium Audio segment designs, manufactures, distributesand markets home theater systems, high-end loudspeakers, outdoor speakers, iPod/computer speakers, business music systems, cinema speakers, flat panel speakers, bluetooth speakers, soundbars, headphones and DLNA (Digital Living Network Alliance).

Our Consumer Accessories segment designs and markets remote controls; rechargeable battery packs; wireless and bluetooth speakers; personal sound amplifiers and iPod docks/iPod sound, A/V connectivity, portable/home charging, reception and digital consumer products.

Each operating segment is individually reviewed and evaluated by our Chief Operating Decision Maker (CODM), who allocates resources and assesses performance of each segment individually. Prior to December 1, 2012 our CODM reviewed financial information presented on a consolidated basis, accompanied by disaggregated information about revenues for purposes of making operating decisions and assessing financial performance.

The Company's Chief Executive Officer has been identified as the CODM. The CODM evaluates performance and allocates resources based upon a number of factors, the primary profit measure being income before income taxesof each segment. Certain costs and royalty income are not allocated to the segments and are reported as Corporate/Eliminations. Costs not allocated to the segments include professional fees, public relations costs, acquisition cost and costs associated with executive and corporate management departments including salaries, benefits, depreciation, rent and insurance.

The segments share many common resources, infrastructures and assets in the normal course of business. Thus, the Company does not report assets or capital expenditures by segment to the CODM.

The accounting principles applied at the consolidated financial statement level are generally the same as those applied at the operating segment level and there are no material intersegment sales. The segments are allocated interest expense, based upon a pre-determined formula, which utilizes a percentage of each operating segment's intercompany balance, which is offset in corporate/eliminations.

Prior period disclosure of net sales by product category has been reclassified to conform to the new operating segment structure which had no impact on our consolidated financial statements. Segment data for each of the Company's segments are presented below:

	Automotive		Premium Audio			Consumer Accessories			Corporate/ Eliminations			Total
Fiscal Year Ended February 28, 2014
Net sales	$	412,531	$	189,208		$	206,319		$	1,651		$	809,709
Equity in income of equity investees	6,070		—			—			—			6,070
Interest expense and bank charges	7,166		8,219			9,988			(17,979		)	7,394
Depreciation and amortization expense	8,442		3,611			2,412			1,718			16,183
Income (loss) before income taxes	18,873		(34,337		)	(11,652		)	461			(26,655		)
Fiscal Year Ended February 28, 2013
Net sales	$	416,557	$	192,987		$	224,701		$	1,332		$	835,577
Equity in income of equity investees	4,880		—			—			—			4,880
Interest expense and bank charges	7,414		7,651			9,753			(16,530		)	8,288
Depreciation and amortization expense	8,579		3,548			2,575			1,744			16,446
Income (loss) before income taxes	14,378		16,983			3,486			808			35,655
Fiscal Year Ended February 29, 2012
Net sales	$	291,231	$	191,427		$	221,518		$	2,886		$	707,062
Equity in income of equity investees	4,035		—			—			—			4,035
Interest expense and bank charges	4,894		8,836			9,502			(17,602		)	5,630
Depreciation and amortization expense	1,654		3,989			2,742			1,910			10,295
Income (loss) before income taxes	25,545		17,612			(1,755		)	(2,510		)	38,892

No one customer accounted for more than 10% of consolidated net sales during the years ended February 28, 2014 and 2013. One customer accounted for more than 10% of consolidated net sales during the year ended February 29, 2012. Such customer sales of $72,574 are recorded in the Automotive, Premium Audio and Consumer Accessories segments during the year ended February 29, 2012.

Geographic net sales information in the table below is based on the location of the selling entity. Long-lived assets, primarily fixed assets, are reported below based on the location of the asset.

	North America		Latin America		Germany		Other		Total
Fiscal Year Ended February 28, 2014
Net sales	$	542,697	$	14,140	$	249,754	$	3,118	$	809,709
Long-lived assets	216,645		13,861		144,871		95		375,472
Fiscal Year Ended February 28, 2013
Net sales	$	575,481	$	27,090	$	229,033	$	3,973	$	835,577
Long-lived assets	274,527		11,983		141,663		113		428,286
Fiscal Year Ended February 29, 2012
Net sales	$	585,293	$	26,728	$	90,042	$	4,999	$	707,062
Long-lived assets	265,870		7,405		19,748		174		293,197