Description of Business and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Feb. 28, 2023

Accounting Policies [Abstract]

Assets and Liabilities Measured on Recurring Basis

The following table presents assets and liabilities measured at fair value on a recurring basis at February 28, 2023:

			Fair Value Measurements at Reporting Date Using
	Total		Level 1		Level 2		Level 3
Assets:
Cash and money market funds	$	6,134	$	6,134	$	—	$	—
Mutual funds		1,053		1,053		-		-
Derivatives designated for hedging		207		-		207		-
Liabilities:
Contingent consideration	$	4,500	$	—	$	—	$	4,500

The following table presents assets and liabilities measured at fair value on a recurring basis at February 28, 2022:

			Fair Value Measurements at Reporting Date Using
	Total		Level 1		Level 2		Level 3
Assets:
Cash and money market funds	$	27,788	$	27,788	$	—	$	—
Mutual funds		1,231		1,231		-		-
Liabilities:
Derivatives designated for hedging	$	188	$	—	$	188	$	—
Contingent consideration		6,435		-		-		6,435

Company's Contingent Consideration Balance

The following table provides a rollforward of the Company's contingent consideration balance for the year ended February 28, 2023:

Balance at February 28, 2022	$	6,435
Payments		(1,620	)
Fair value adjustment		50
Purchase price allocation adjustment		1,051
Gain on settlement		(443	)
Foreign currency translation		(973	)
Balance at February 28, 2023	$	4,500

Fair Value, by Balance Sheet Grouping

The Company holds derivative instruments that are designated as hedging instruments. The following table discloses the fair value as of February 28, 2023 and February 28, 2022 for derivative instruments:

	Derivative Assets and Liabilities
		Fair Value
	Account	February 28, 2023		February 28, 2022
Designated derivative instruments
Interest rate swap	Other assets	$	207	$	-
	Other long-term liabilities		-		(188	)
Total derivatives		$	207	$	(188	)

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)

Activity related to cash flow hedges recorded during the twelve months ended February 28, 2023 and February 28, 2022 was as follows:

	February 28, 2023				February 28, 2022
	Gain Recognized in Other Comprehensive Income		Loss Reclassified from Accumulated Other Comprehensive Income		Gain Recognized in Other Comprehensive Income		Loss Reclassified from Accumulated Other Comprehensive Income
Cash flow hedges
Foreign currency contracts	$	-	$	63	$	233	$	(307	)
Interest rate swaps	$	395	$	—	$	258	$	—

Summary of Investment Securities

As of February 28, 2023 and February 28, 2022, the Company had the following investments:

	February 28, 2023
	Carrying Value
Investment Securities
Marketable Equity Securities
Mutual funds	$	1,053
Total Marketable Equity Securities		1,053
Total Investment Securities	$	1,053

	February 28, 2022
	Carrying Value
Investment Securities
Marketable Equity Securities
Mutual funds	$	1,231
Total Marketable Equity Securities		1,231
Total Investment Securities	$	1,231

Schedule of Accounts Receivable

Accounts receivable are comprised of the following:

	February 28, 2023		February 28, 2022
Trade accounts receivable	$	85,268	$	108,915
Less:
Allowance for credit losses		1,398		2,182
Allowance for cash discounts		1,117		1,108
	$	82,753	$	105,625

Schedule of Inventory, Current

Inventories by major category are as follows:

	February 28, 2023		February 28, 2022
Raw materials	$	28,048	$	23,904
Work in process		1,363		1,519
Finished goods		145,718		149,499
Inventory, net	$	175,129	$	174,922

Summary of Property, Plant and Equipment, Net

A summary of property, plant and equipment, net, is as follows:

	February 28, 2023		February 28, 2022
Land	$	7,101	$	7,046
Buildings		44,669		44,177
Property under finance lease		2,754		2,503
Furniture and fixtures		4,600		4,489
Machinery and equipment		10,514		10,287
Construction-in-progress		748		3,341
Computer hardware and software		46,313		41,962
Automobiles		681		710
Leasehold improvements		3,008		2,718
		120,388		117,233
Less accumulated depreciation and amortization		73,344		67,439
	$	47,044	$	49,794

Summary of Estimated Useful Lives of Assets

Depreciation is calculated on the straight-line method over the estimated useful lives of the assets as follows:

Buildings and improvements	20	-	40 years
Furniture and fixtures	5	-	15 years
Machinery and equipment	5	-	15 years
Computer hardware and software	3	-	5 years
Automobiles			3 years

Change in Carrying Value of Goodwill

The change in the carrying value of goodwill is as follows:

	February 28, 2023			February 28, 2022			February 28, 2021
Beginning of period	$	74,320		$	58,311		$	55,000
Goodwill acquired (see Note 2)		—			18,160			3,290
Adjustments to goodwill acquired, net (see Note 2)		1,051			(1,353	)		21
Impairment charge		(7,373	)		—			—
Foreign currency translation		(2,690	)		(798	)		—
End of period	$	65,308		$	74,320		$	58,311
Gross carrying value	$	104,844		$	106,483		$	90,474
Accumulated impairment charges		(39,536	)		(32,163	)		(32,163	)
Net carrying value	$	65,308		$	74,320		$	58,311

	February 28, 2023			February 28, 2022			February 28, 2021
Automotive Electronics
Beginning of period	$	10,425		$	11,778		$	8,467
Goodwill acquired (see Note 2)		—			—			3,290
Adjustments to goodwill acquired, net (see Note 2)		—			(1,353	)		21
Impairment charge		(7,373	)		—			—
End of period	$	3,052		$	10,425		$	11,778
Gross carrying value	$	10,425		$	10,425		$	11,778
Accumulated impairment charge		(7,373	)		—			—
Net carrying value	$	3,052		$	10,425		$	11,778
Consumer Electronics
Beginning of period	$	63,895		$	46,533		$	46,533
Goodwill acquired (see Note 2)		-			18,160			-
Adjustments to goodwill acquired (see Note 2)		1,051			-			-
Foreign currency translation		(2,690	)		(798	)		—
End of period	$	62,256		$	63,895		$	46,533
Gross carrying value	$	94,419		$	96,058		$	78,696
Accumulated impairment charge		(32,163	)		(32,163	)		(32,163	)
Net carrying value	$	62,256		$	63,895		$	46,533
Total goodwill, net	$	65,308		$	74,320		$	58,311

Note: The Company's Biometrics segment did not carry a balance for goodwill at February 28, 2023, February 28, 2022, or February 28, 2021.

Schedule of Intangible Assets, Excluding Goodwill

At February 28, 2023 and February 28, 2022, intangible assets consisted of the following:

	February 28, 2023
	Gross Carrying Value		Accumulated Amortization		Total Net Book Value
Finite-lived intangible assets:
Customer relationships (10-15.5 years)	$	53,790	$	42,786	$	11,004
Trademarks/Tradenames (5.5-10 years)		21,205		3,360		17,845
Developed technology (7-10 years)		19,434		14,645		4,789
Patents (7-13 years)		6,736		5,845		891
License		1,400		1,400		-
Contracts		1,556		1,556		-
Total finite-lived intangible assets	$	104,121	$	69,592		34,529
Indefinite-lived intangible assets
Trademarks						55,908
Total intangible assets, net					$	90,437

	February 28, 2022
	Gross Carrying Value		Accumulated Amortization		Total Net Book Value
Finite-lived intangible assets:
Customer relationships (4-15.5 years)	$	54,138	$	39,669	$	14,469
Trademarks/Tradenames (5.5-10 years)		17,466		1,927		15,539
Developed technology (7 years)		20,413		13,179		7,234
Patents (4-13 years)		6,736		5,562		1,174
License		1,400		1,400		-
Contracts		1,556		1,556		-
Total finite-lived intangible assets	$	101,709	$	63,293		38,416
Indefinite-lived intangible assets
Trademarks						63,034
Total intangible assets, net					$	101,450

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

At February 28, 2023, the estimated aggregate amortization expense for all amortizable intangibles for each of the succeeding five fiscal years is as follows:

Fiscal Year	Amount
2024	$	6,215
2025		5,948
2026		5,848
2027		3,616
2028		3,144

Summary of Activity with Respect to Accrued Sales Incentives

A summary of the activity with respect to accrued sales incentives is provided below:

	Year Ended			Year Ended			Year Ended
	February 28, 2023			February 28, 2022			February 28, 2021
Accrued sales incentives, opening balance	$	23,755		$	25,313		$	12,250
Accruals		50,056			58,490			67,337
Payments and credits		(51,894	)		(59,644	)		(54,102	)
Reversals for unearned sales incentives		(139	)		(404	)		(172	)
Accrued sales incentives, ending balance	$	21,778		$	23,755		$	25,313

Changes in Accrued Product Warranties and Product Repair Costs

Changes in the Company's accrued product warranties and product repair costs are as follows:

	Year Ended			Year Ended			Year Ended
	February 28, 2023			February 28, 2022			February 28, 2021
Beginning balance	$	5,622		$	5,290		$	4,748
Liabilities (adjusted) acquired during acquisitions		-			(352	)		1,200
Accrual for warranties issued during the year and repair cost		6,525			4,583			3,065
Warranty claims settled during the year		(5,388	)		(3,899	)		(3,723	)
Ending balance	$	6,759		$	5,622		$	5,290

Reconciliation Between Denominator of Basic and Diluted Net Income (Loss) Per Common Share

A reconciliation between the denominator of basic and diluted net (loss) income per common share is as follows:

	Year Ended		Year Ended		Year Ended
	February 28, 2023		February 28, 2022		February 28, 2021
Weighted-average common shares outstanding (basic)		24,325,938		24,287,179		24,201,221
Effect of dilutive securities:
Restricted stock units, market stock units, and stock grants		-		-		448,885
Weighted-average common and potential common shares outstanding (diluted)		24,325,938		24,287,179		24,650,106

Schedule of Other Nonoperating (Expense) Income

Other (expense) income is comprised of the following:

	Year Ended			Year Ended			Year Ended
	February 28, 2023			February 28, 2022			February 28, 2021
Foreign currency (loss) gain	$	(3,674	)	$	(635	)	$	(862	)
Interest income		36			72			83
Rental income		911			678			739
Miscellaneous		672			208			786
Total other, net	$	(2,055	)	$	323		$	746

Summary of Activity Related to 2014 Plan and Initial Stock Grant and Additional Stock Grants under Employment Agreement

The following table presents a summary of the activity related to the 2014 Plan and the initial stock grant and additional stock grants under the Employment Agreement for the year ended February 28, 2023:

	Number of shares			Weighted Average Grant Date Fair Value
Unvested share balance at February 29, 2020		715,152		$	5.07
Granted		88,269			7.18
Vested		(99,697	)		7.21
Vested and settled		(100,000	)		4.15
Forfeited		—			—
Unvested share balance at February 28, 2021		603,724		$	5.18
Granted		48,527			13.59
Vested		(197,891	)		5.76
Vested and settled		(100,000	)		4.15
Forfeited		—			—
Unvested share balance at February 28, 2022		354,360		$	6.30
Granted		66,556			9.00
Vested		(33,930	)		6.10
Vested and settled		(100,000	)		4.15
Forfeited		—			—
Unvested share balance at February 28, 2023		286,986		$	7.70

Schedule of Accumulated Other Comprehensive Loss

v)Accumulated Other Comprehensive Loss

	Foreign Currency Translation (Losses) Gains			Pension plan adjustments, net of tax			Derivatives designated in a hedging relationship, net of tax			Total
Balance at February 29, 2020	$	(17,739	)	$	(887	)	$	(429	)	$	(19,055	)
Other comprehensive income (loss) before reclassifications		4,365			18			(470	)		3,913
Reclassified from accumulated other comprehensive loss		—			—			165			165
Net current-period other comprehensive income (loss)		4,365			18			(305	)		4,078
Balance at February 28, 2021	$	(13,374	)	$	(869	)	$	(734	)	$	(14,977	)
Other comprehensive (loss) income before reclassifications		(3,317	)		158			485			(2,674	)
Reclassified from accumulated other comprehensive loss		-			-			148			148
Net current-period other comprehensive (loss) income		(3,317	)		158			633			(2,526	)
Balance at February 28, 2022	$	(16,691	)	$	(711	)	$	(101	)	$	(17,503	)
Other comprehensive (loss) income before reclassifications		(1,876	)		390			352			(1,134	)
Reclassified from accumulated other comprehensive loss		-			-			(43	)		(43	)
Net current-period other comprehensive (loss) income		(1,876	)		390			309			(1,177	)
Balance at February 28, 2023	$	(18,567	)	$	(321	)	$	208		$	(18,680	)