Equity Investment

3 Months Ended

May 31, 2022

Equity Method Investment, Summarized Financial Information [Abstract]

(12) Equity Investment

As of May 31, 2022 and February 28, 2022, the Company had a 50% non-controlling ownership interest in ASA Electronics, LLC and Subsidiary (“ASA") which acts as a distributor of mobile electronics specifically designed for niche markets within the automotive industry, including RV's; buses; and commercial, heavy duty, agricultural, construction, powersport, and marine vehicles.

The following presents summary financial information for ASA. Such summary financial information has been provided herein based upon the individual significance of ASA to the consolidated financial information of the Company.


	May 31, 2022		February 28, 2022
Current assets	$	48,442	$	46,202
Non-current assets		7,138		7,382
Liabilities		11,560		10,888
Members' equity		44,020		42,696


	Three months ended May 31,
	2022		2021
Net sales	$	29,789	$	33,225
Gross profit		6,206		8,645
Operating income		3,154		5,429
Net income		3,176		5,446

The Company's share of income from ASA was $1,588 for the three months ended May 31, 2022 compared to $2,723 for the three months ended May 31, 2021.