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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
May 31, 2022
May 31, 2021
Cash flows from operating activities:    
Net (loss) income $ (7,847) $ 1,797
Adjustments to reconcile net (loss) income to net cash used in operating activities:    
Depreciation and amortization 3,117 2,807
Amortization of debt discount 63 83
Bad debt (recovery) expense (70) 19
Reduction in the carrying amount of the right of use asset 395 341
Gain (loss) on forward contracts (63) 174
Equity in income of equity investees (1,588) (2,723)
Distribution of income from equity investees 926 2,845
Deferred income tax (benefit) expense (935) 318
Non-cash compensation adjustment (9) (92)
Stock based compensation expense 126 236
Changes in operating assets and liabilities:    
Accounts receivable 22,105 10,803
Inventory (7,543) (5,827)
Receivables from vendors 145 (80)
Prepaid expenses and other 1,254 (1,223)
Investment securities-trading 9 92
Accounts payable, accrued expenses, accrued sales incentives, contract liabilities, and other liabilities (31,092) (26,777)
Income taxes payable (1,260) 164
Net cash used in operating activities (22,267) (17,043)
Cash flows from investing activities:    
Purchases of property, plant, and equipment (1,383) (927)
Issuance of promissory note   (3,000)
Net cash used in investing activities (1,383) (3,927)
Cash flows from financing activities:    
Principal payments on finance lease obligation (73) (114)
Repayment of bank obligations (24,499) (125)
Borrowings on bank obligations 28,138  
Deferred financing costs   (660)
Settlement of market stock unit awards (4,000)  
Withholding taxes paid on net issuance of stock award (404) (856)
Net cash used in financing activities (838) (1,755)
Effect of exchange rate changes on cash 2,433 31
Net decrease in cash and cash equivalents (22,055) (22,694)
Cash and cash equivalents at beginning of period 27,788 59,404
Cash and cash equivalents at end of period $ 5,733 $ 36,710