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Restatement of Previously Issued Financial Statements (Tables)
 9 Months Ended
Nov. 30, 2017
Accounting Changes and Error Corrections [Abstract]  
Schedule of Restatements of Previously Issued Financial Statements
The table below sets forth the condensed consolidated statements of income, including the balances originally reported, corrections and the as restated balances for each restated period (in thousands):

 
 
Three Months Ended November 30,
 
Nine Months Ended November 30,
 
 
2016
 
2016
 
 
As
Reported
 
Correction
 
As
Restated
 
As
Reported
 
Correction
 
As
Restated
Net Sales
 
$
227,459

 
$
657

 
$
228,116

 
$
665,171

 
$
14,101

 
$
679,272

Cost of Sales
 
173,593

 
3,226

 
176,819

 
506,091

 
14,651

 
520,742

Gross Profit
 
53,866

 
(2,569
)
 
51,297

 
159,080

 
(550
)
 
158,530

 
 
 
 
 
 
 
 
 
 
 
 
 
Operating Income
 
28,784

 
(2,569
)
 
26,215

 
78,182

 
(550
)
 
77,632

 
 
 
 
 
 
 
 
 
 
 
 
 
Income Before Income Taxes
 
25,946

 
(2,569
)
 
23,377

 
67,946

 
(550
)
 
67,396

Income Tax Expense
 
7,695

 
(964
)
 
6,731

 
18,609

 
(207
)
 
18,402

Net Income
 
$
18,251

 
$
(1,605
)
 
$
16,646

 
$
49,337

 
$
(343
)
 
$
48,994

Earnings Per Common Share
 
 
 
 
 
 
 
 
 
 
 
 
Basic Earnings Per Share
 
$
0.70

 
$
(0.06
)
 
$
0.64

 
$
1.90

 
$
(0.01
)
 
$
1.89

Diluted Earnings Per Share
 
$
0.70

 
$
(0.06
)
 
$
0.64

 
$
1.89

 
$
(0.01
)
 
$
1.88

The table below sets forth the condensed consolidated statements of comprehensive income, including the balances originally reported, corrections and the as restated balances for each restated period (in thousands):
 
 
Three Months Ended November 30,
 
Nine Months Ended November 30,
 
 
2016
 
2016
 
 
As
Reported
 
Correction
 
As
Restated
 
As
Reported
 
Correction
 
As
Restated
Net Income
 
$
18,251

 
$
(1,605
)
 
$
16,646

 
$
49,337

 
$
(343
)
 
$
48,994

Comprehensive Income
 
15,319

 
(1,605
)
 
13,714

 
49,061

 
(343
)
 
48,718

The table below sets forth the condensed consolidated statements of cash flows from operating activities, including the balances originally reported, corrections and the as restated balances for each restated period (in thousands):
 
 
Nine Months Ended November 30,
 
 
2016
 
 
As
Reported
 
Correction
 
As
Restated
Cash flows from operating activities:
 
 
 
 
 
 
Net income
 
$
49,337

 
$
(343
)
 
$
48,994

Deferred income taxes
 
(331
)
 
(207
)
 
(538
)
Inventories
 
(20,760
)
 
13,965

 
(6,795
)
Net change in billings related to costs and estimated earnings on uncompleted contracts
 
8,853

 
(12,130
)
 
(3,277
)
Other accrued liabilities and income taxes payable
 
329

 
(1,285
)
 
(956
)
Net cash provided by operating activities:
 
$
57,275

 
$
—

 
$
57,275