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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
3 Months Ended
May 31, 2021
May 31, 2020
Cash flows from operating activities:    
Net income (loss) $ 1,797 $ (9,105)
Adjustments to reconcile net income (loss) to net cash used in operating activities:    
Depreciation and amortization 2,807 2,543
Amortization of debt discount 83 206
Bad debt expense (recovery) 19 (7)
Reduction in the carrying amount of the right of use asset 341 243
Loss (gain) on forward contracts 174 (67)
Equity in income of equity investees (2,723) (862)
Distribution of income from equity investees 2,845 1,502
Deferred income tax expense 318 644
Non-cash compensation adjustment (92) (541)
Stock based compensation expense 236 351
Changes in operating assets and liabilities:    
Accounts receivable 10,803 14,842
Inventory (5,827) (6,059)
Receivables from vendors (80) (4)
Prepaid expenses and other (1,223) (255)
Investment securities-trading 92 541
Accounts payable, accrued expenses, accrued sales incentives, contract liabilities, and other liabilities (26,777) 7,638
Income taxes payable 164 675
Net cash (used in) provided by operating activities (17,043) 12,285
Cash flows from investing activities:    
Purchases of property, plant, and equipment (927) (586)
Issuance of promissory note (3,000)  
Net cash used in investing activities (3,927) (586)
Cash flows from financing activities:    
Principal payments on finance lease obligation (114) (169)
Repayment of bank obligations (125) (125)
Borrowings on bank obligations   20,000
Deferred financing costs (660)  
Withholding taxes paid on net issuance of stock award (856)  
Net cash (used in) provided by financing activities (1,755) 19,706
Effect of exchange rate changes on cash 31 209
Net (decrease) increase in cash and cash equivalents (22,694) 31,614
Cash and cash equivalents at beginning of period 59,404 37,425
Cash and cash equivalents at end of period $ 36,710 $ 69,039