Ennis (EBF) 10-Q 2 Jul 20 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	May 31, 2020	Jun. 26, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	May 31, 2020
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Trading Symbol	EBF
Entity Registrant Name	ENNIS, INC.
Entity Central Index Key	0000033002
Current Fiscal Year End Date	--02-28
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		26,073,122
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity File Number	1-5807
Entity Incorporation, State or Country Code	TX
Entity Tax Identification Number	75-0256410
Entity Address, Address Line One	2441 Presidential Pkwy
Entity Address, City or Town	Midlothian
Entity Address, State or Province	TX
Entity Address, Country	US
Entity Address, Postal Zip Code	76065
City Area Code	972
Local Phone Number	775-9801
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock, par value $2.50 per share
Security Exchange Name	NYSE

Unaudited Consolidated Balance

Unaudited Consolidated Balance Sheets - USD ($) $ in Thousands	May 31, 2020	Feb. 29, 2020
Current assets
Cash	$ 75,832	$ 68,258
Accounts receivable, net of allowance for doubtful receivables of $940 at May 31, 2020 and $715 at February 29, 2020	33,167	43,086
Prepaid expenses	1,250	1,541
Prepaid income taxes	939	2,164
Inventories	34,235	34,835
Total current assets	145,423	149,884
Property, plant and equipment
Plant, machinery and equipment	152,253	155,744
Land and buildings	57,859	57,887
Computer equipment and software	19,317	19,312
Other	4,873	4,873
Total property, plant and equipment	234,302	237,816
Less accumulated depreciation	179,243	181,414
Net property, plant and equipment	55,059	56,402
Operating lease right-of-use assets	18,647	20,068
Goodwill	82,527	82,527
Intangible assets, net	54,585	56,557
Other assets	260	261
Total assets	356,501	365,699
Current liabilities
Accounts payable	12,027	17,235
Accrued expenses	13,763	15,069
Current portion of operating lease liabilities	5,443	5,665
Total current liabilities	31,233	37,969
Liability for pension benefits	8,936	8,936
Deferred income taxes	8,893	8,749
Operating lease liabilities, net of current portion	12,986	14,200
Other liabilities	1,455	1,516
Total liabilities	63,503	71,370
Commitments and contingencies
Shareholders’ equity
Preferred stock $10 par value, authorized 1,000,000 shares; none issued
Common stock $2.50 par value, authorized 40,000,000 shares; issued 30,053,443 shares at May 31, 2020 and February 29, 2020	75,134	75,134
Additional paid-in capital	122,266	123,052
Retained earnings	192,130	193,809
Accumulated other comprehensive loss:
Minimum pension liability, net of taxes	(24,773)	(25,206)
Treasury stock	(71,759)	(72,460)
Total shareholders’ equity	292,998	294,329
Total liabilities and shareholders' equity	$ 356,501	$ 365,699

Unaudited Consolidated Balanc_2

Unaudited Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	May 31, 2020	Feb. 29, 2020
Statement Of Financial Position [Abstract]
Allowance for doubtful receivables	$ 940	$ 715
Preferred stock, par value	$ 10	$ 10
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 2.50	$ 2.50
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	30,053,443	30,053,443

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	May 31, 2020	May 31, 2019
Income Statement [Abstract]
Net sales	$ 88,996	$ 108,033
Type of revenue [extensible list]	ebf:CommercialPrintedProductMember	ebf:CommercialPrintedProductMember
Cost of goods sold	$ 65,089	$ 75,337
Type of cost, good or service [extensible list]	ebf:CommercialPrintedProductMember	ebf:CommercialPrintedProductMember
Gross profit margin	$ 23,907	$ 32,696
Selling, general and administrative	18,123	19,703
Gain from disposal of assets	(112)
Income from operations	5,896	12,993
Other income (expense)
Interest expense	(3)	(317)
Other, net	(238)	340
Total other income (expense)	(241)	23
Earnings before income taxes	5,655	13,016
Income tax expense	1,470	3,384
Net earnings	$ 4,185	$ 9,632
Weighted average common shares outstanding
Basic	25,975,010	26,028,337
Diluted	25,975,010	26,028,337
Earnings per share
Basic	$ 0.16	$ 0.37
Diluted	0.16	0.37
Cash dividends per share	$ 0.225	$ 0.225

Unaudited Consolidated Statem_2

Unaudited Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	May 31, 2020	May 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net earnings	$ 4,185	$ 9,632
Adjustment to pension, net of taxes	433	234
Comprehensive income	$ 4,618	$ 9,866

Unaudited Consolidated Statem_3

Unaudited Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Treasury Stock [Member]
Beginning balance at Feb. 28, 2019	$ 289,127	$ 75,134	$ 123,065	$ 179,003	$ (16,704)	$ (71,371)
Beginning balance common stock, shares at Feb. 28, 2019		30,053,443
Beginning balance, treasury stock, shares at Feb. 28, 2019						(4,097,099)
Net earnings	9,632			9,632
Adjustment to pension, net of deferred tax of $144 and $78 respectively	234				234
Dividends paid ($0.225 and $0.225 per share respectively)	(5,875)			(5,875)
Stock based compensation	358		358
Exercise of stock options and restricted stock			(1,312)			$ 1,312
Exercise of stock options and restricted stock, shares						83,095
Common stock repurchases	(1,212)					$ (1,212)
Common stock repurchases, shares						(62,038)
Ending balance at May. 31, 2019	292,264	$ 75,134	122,111	182,760	(16,470)	$ (71,271)
Ending balance common stock, shares at May. 31, 2019		30,053,443
Ending balance treasury stock, shares at May. 31, 2019						(4,076,042)
Beginning balance at Feb. 29, 2020	$ 294,329	$ 75,134	123,052	193,809	(25,206)	$ (72,460)
Beginning balance common stock, shares at Feb. 29, 2020	30,053,443	30,053,443
Beginning balance, treasury stock, shares at Feb. 29, 2020						(4,136,286)
Net earnings	$ 4,185			4,185
Adjustment to pension, net of deferred tax of $144 and $78 respectively	433				433
Dividends paid ($0.225 and $0.225 per share respectively)	(5,864)			(5,864)
Stock based compensation	338		338
Exercise of stock options and restricted stock			(1,124)			$ 1,124
Exercise of stock options and restricted stock, shares						64,151
Common stock repurchases	$ (423)					$ (423)
Common stock repurchases, shares	(26,472)					(26,472)
Ending balance at May. 31, 2020	$ 292,998	$ 75,134	$ 122,266	$ 192,130	$ (24,773)	$ (71,759)
Ending balance common stock, shares at May. 31, 2020	30,053,443	30,053,443
Ending balance treasury stock, shares at May. 31, 2020						(4,098,607)

Unaudited Consolidated Statem_4

Unaudited Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	May 31, 2020	May 31, 2019
Statement Of Stockholders Equity [Abstract]
Deferred tax adjusted to pension	$ 144	$ 78
Dividends paid per share	$ 0.225	$ 0.225

Unaudited Consolidated Statem_5

Unaudited Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	May 31, 2020	May 31, 2019
Cash flows from operating activities:
Net earnings	$ 4,185	$ 9,632
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	2,444	2,477
Amortization of deferred finance charges		28
Amortization of intangible assets	1,972	1,904
Gain from disposal of assets	(112)
Bad debt expense, net of recoveries	648	40
Stock based compensation	338	358
Net pension expense	577	295
Changes in operating assets and liabilities, net of the effects of acquisitions:
Accounts receivable	9,271	412
Prepaid expenses and income taxes	1,517	755
Inventories	600	(93)
Accounts payable and accrued expenses	(6,514)	487
Other liabilities	(76)	(624)
Net cash provided by operating activities	14,850	15,671
Cash flows from investing activities:
Capital expenditures	(1,125)	(802)
Purchase of businesses, net of cash acquired		(8,859)
Proceeds from disposal of plant and property	136
Net cash used in investing activities	(989)	(9,661)
Cash flows from financing activities:
Dividends paid	(5,864)	(5,875)
Common stock repurchases	(423)	(1,212)
Net cash used in financing activities	(6,287)	(7,087)
Net change in cash	7,574	(1,077)
Cash at beginning of period	68,258	88,442
Cash at end of period	$ 75,832	$ 87,365

Significant Accounting Policies

Significant Accounting Policies and General Matters	3 Months Ended
	May 31, 2020
Accounting Policies [Abstract]
Significant Accounting Policies and General Matters	1. Significant Accounting Policies and General Matters Basis of Presentation These unaudited consolidated financial statements of Ennis, Inc. and its subsidiaries (collectively referred to as the “Company,” “Registrant,” “Ennis,” or “we,” “us,” or “our”) for the period ended May 31, 2020 have been prepared in accordance with generally accepted accounting principles for interim financial reporting. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended February 29, 2020, from which the accompanying consolidated balance sheet at February 29, 2020 was derived. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments considered necessary for a fair presentation of the interim financial information have been included and are of a normal recurring nature. In preparing the financial statements, the Company is required to make estimates and assumptions that affect the disclosure and reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company evaluates these estimates and judgments on an ongoing basis, including those related to bad debts, inventory valuations, property, plant and equipment, intangible assets, pension plan, accrued liabilities, and income taxes. The Company bases estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances. The results of operations for any interim period are not necessarily indicative of the results of operations for a full year, especially in light of the uncertainties surrounding the impact of the novel coronavirus (COVID-19) pandemic. Recent Accounting Pronouncements Recently Adopted Accounting Updates In August 2018, the Financial Accounting Standards Board (“ FASB ASU Fair Value Measurement (Topic 820) ASU 2018-13 In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ASU 2016-13 Recently Issued Accounting Updates In December 2019, the FASB issued Accounting Standards Update ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ASU 2019-12 Income Taxes In August 2018, the FASB issued ASU No. 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Topic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans ASU 2018-14

Revenue

Revenue	3 Months Ended
	May 31, 2020
Revenue From Contract With Customer [Abstract]
Revenue	2. Revenue Nature of Revenues Substantially all of the Company’s revenue from contracts with customers consist of the sale of commercial printing products in the continental United States and is primarily recognized at a point in time in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods. Revenue from the sale of commercial printing products, including shipping and handling fees billed to customers, is recognized upon the transfer of control to the customer, which is generally upon shipment to the customer when the terms of the sale are freight on board (“FOB”) shipping point, or, to a lesser extent, upon delivery to the customer if the terms of the sale are FOB destination. In a small number of cases and upon customer request, the Company prints and stores commercial printing product for customer specified future delivery, generally within the same year as the product is manufactured. In this case, revenue is recognized upon the transfer of control when manufacturing is complete and title and risk of ownership is passed to the customer. Storage revenue for certain customers may be recognized over time rather than at a point in time. As of the date of this report, the amount of storage revenue is immaterial to the Company’s financial statements. The output method for measure of progress is determined to be appropriate, the Company recognizes storage revenue in the amount for which it has the right to invoice for revenue that is recognized over time and for which it demonstrates that the invoiced amount corresponds directly with the value to the customer for the performance completed to date. The Company does not disaggregate revenue and operates in one sales category consisting of commercial printed product revenue, which is reported as net sales on the consolidated statements of operations. The Company does not have material contract assets and contract liabilities as of May 31, 2020. Significant Judgments Generally, the Company’s contracts with customers are comprised of a written quote and customer purchase order or statement of work, and governed by the Company’s trade terms and conditions. In certain instances, it may be further supplemented by separate pricing agreements and customer incentive arrangements, which typically only affect the contract’s transaction price. Contracts do not contain a significant financing component as payment terms on invoiced amounts are typically between 30 to 60 days, based on the Company’s credit assessment of individual customers, as well as industry expectations. Product returns are not significant. From time to time, the Company may offer incentives to its customers considered to be variable consideration including volume-based rebates or early payment discounts. Customer incentives considered to be variable consideration are recorded as a reduction to revenue as part of the transaction price at contract inception when there is a basis to reasonably estimate the amount of the incentive and only to the extent that it is probable that a significant reversal of any incremental revenue will not occur. Customer incentives are allocated entirely to the single performance obligation of transferring printed product to the customer. For customers with terms of FOB shipping point, the Company accounts for shipping and handling activities performed after the control of the printed product has been transferred to the customer as a fulfillment cost. The Company accrues for the costs of shipping and handling activities if revenue is recognized before contractually agreed shipping and handling activities occur. The Company’s contracts with customers are generally short-term in nature. Accordingly, the Company does not disclose the value of unsatisfied performance obligations nor the timing of revenue recognition.

Accounts Receivable and Allowan

Accounts Receivable and Allowance for Doubtful Receivables	3 Months Ended
	May 31, 2020
Receivables [Abstract]
Accounts Receivable and Allowance for Doubtful Receivables	3. Accounts Receivable and Allowance for Doubtful Receivables Accounts receivable are reduced by an allowance for an estimate of amounts that are uncollectible. Substantially all of the Company’s receivables are due from customers in the United States. The Company extends credit to its customers based upon its evaluation of the following factors: (i) the customer’s financial condition, (ii) the amount of credit the customer requests, and (iii) the customer’s actual payment history (which includes disputed invoice resolution). The Company does not typically require its customers to post a deposit or supply collateral. The Company’s allowance for doubtful receivables is based on an analysis that estimates the amount of its total customer receivable balance that is not collectible. This analysis includes the pooling of receivables based on risk assessment and then assessing a default probability to these pooled balances, which can be influenced by several factors including (i) current market conditions, (ii) historical experience, (iii) reasonable forecast, and (iv) review of customer receivable aging and payment trends. The Company writes off accounts receivable when they become uncollectible, and payments subsequently received on such receivables are credited to the allowance in the period the payment is received. The following table presents the activity in the Company’s allowance for doubtful receivables (in thousands): Three months ended May 31, 2020 2019 Balance at beginning of period $ 715 $ 1,020 Bad debt expense, net of recoveries 648 40 Accounts written off (423 ) (19 ) Balance at end of period $ 940 $ 1,041

Inventories

Inventories	3 Months Ended
	May 31, 2020
Inventory Disclosure [Abstract]
Inventories	4. Inventories The Company uses the lower of last-in, first-out (“ LIFO FIFO The following table summarizes the components of inventories at the different stages of production as of the dates indicated (in thousands): May 31, February 29, 2020 2020 Raw material $ 21,340 $ 20,267 Work-in-process 2,830 4,557 Finished goods 10,065 10,011 $ 34,235 $ 34,835

Acquisitions

Acquisitions	3 Months Ended
	May 31, 2020
Business Combinations [Abstract]
Acquisitions	5. Acquisitions The Company applies the acquisition method of accounting for business combinations. Under the acquisition method, the acquiring entity in a business combination recognizes 100% of the assets acquired and liabilities assumed at their acquisition date fair values. Management utilizes valuation techniques appropriate for the asset or liability being measured in determining these fair values. Any excess of the purchase price over amounts allocated to assets acquired, including identifiable intangible assets and liabilities assumed, is recorded as goodwill. Where amounts allocated to assets acquired and liabilities assumed is greater than the purchase price, a bargain purchase gain is recognized. Acquisition-related costs are expensed as incurred. On July 15, 2019, the Company acquired all the outstanding stock of The Flesh Company (“ Flesh Impressions Direct The following is a summary of the preliminary purchase price allocation for Flesh (in thousands): Accounts receivable $ 2,480 Inventories 1,343 Other assets 191 Right-of-use asset 715 Property, plant & equipment 7,065 Customer lists 337 Trademarks 880 Non-compete 20 Accounts payable and accrued liabilities (2,251 ) Operating lease liability (700 ) Deferred income taxes (206 ) $ 9,874 On March 16, 2019, the Company acquired the assets of Integrated Print & Graphics (“ Integrated The following is a summary of the purchase price allocation for Integrated (in thousands): Accounts receivable $ 1,971 Inventories 1,322 Other assets 72 Property, plant & equipment 3,828 Right-of-use asset 2,041 Customer lists 896 Trademarks 896 Non-compete 25 Goodwill 893 Accounts payable and accrued liabilities (1,044 ) Operating lease liability (2,041 ) $ 8,859 The results of operations for Integrated and Flesh are included in the Company’s consolidated financial statements from the respective dates of acquisition. The following table sets forth certain operating information on a pro forma basis as though all Integrated and Flesh operations had been acquired as of March 1, 2019, after the estimated impact of adjustments such as amortization of intangible assets, depreciation expense and interest expense and related tax effects (in thousands, except per share amounts). Three months ended May 31, 2019 Pro forma net sales $ 116,136 Pro forma net earnings 9,569 Pro forma earnings per share - diluted 0.37 The pro forma results are not necessarily indicative of what would have occurred if the acquisitions had been in effect for the period presented.

Leases

Leases	3 Months Ended
	May 31, 2020
Leases [Abstract]
Leases	6. Leases The Company leases certain of its facilities and equipment under operating leases, which are recorded as right-of-use assets and lease liabilities. The Company’s leases generally have terms of 1 – 5 years, with certain leases including renewal options to extend the leases for additional periods at the Company’s discretion. At lease inception, all renewal options reasonably certain to be exercised are considered when determining the lease term. The Company currently does not have leases that include options to purchase or provisions that would automatically transfer ownership of the leased property to the Company. Operating lease expense is recognized on a straight-line basis over the lease term, and variable lease payments are expensed as incurred. The Company had no variable lease costs for the three months ended May 31, 2020. The Company determines whether a contract is or contains a lease at the inception of the contract. A contract will be deemed to be or contain a lease if the contract conveys the right to control and direct the use of identified property, plant, or equipment for a period of time in exchange for consideration. The Company generally must also have the right to obtain substantially all of the economic benefits from the use of the property, plant, and equipment. Operating lease assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. To determine the present value of lease payments not yet paid, the Company estimates incremental borrowing rates based on the information available at lease commencement date as rates are not implicitly stated in most leases. Components of lease expense for the three months ended May 31, 2020 and May 31, 2019 were as follows (in thousands): Three months ended May 31, 2020 May 31, 2019 Operating lease cost $ 1,627 $ 1,577 Supplemental cash flow information related to leases was as follows: Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 1,612 $ 1,569 Right-of-use assets obtained in exchange for lease obligations Operating leases $ — $ — Weighted Average Remaining Lease Terms Operating leases 4 Years Weighted Average Discount Rate Operating leases 4.34 % Future minimum lease commitments under non-cancelable operating leases for each of the fiscal years ending are as follows (in thousands): Operating Lease Commitments 2021 (remaining 9 months) $ 4,143 2022 5,194 2023 4,245 2024 2,946 2025 2,154 2026 877 Thereafter 621 Total future minimum lease payments $ 20,180 Less imputed interest 1,751 Present value of lease liabilities $ 18,429

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	May 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	7. Goodwill and Intangible Assets Goodwill represents the excess of the purchase price over the fair value of net assets of acquired businesses and is not amortized. Goodwill and other intangible assets are tested for impairment at a reporting unit level. Historically, the Company has performed its annual impairment test as of November 30, the last day of the third quarter, but beginning in fiscal year 2020, the Company performed its annual impairment test as of December 1, the first day of the fourth quarter. Accordingly, the annual impairment test was performed as of November 30 and updated as of December 1 of fiscal year 2020, in each case with no impact on the financial statements. The change to the Company’s impairment testing date did not accelerate, delay, avoid or cause an impairment charge, nor did the change result in adjustments to the Company’s previously issued financial statements. The Company’s impairment tests indicated significant cushion between its carrying value and fair market value. Subsequent to the December 1, 2019 assessment, the novel coronavirus (COVID-19) pandemic began to cause major economic disruption and significant volatility in the stock market. As a result, the Company updated the assessment performed for fiscal year 2020 through February 29, 2020. No impairment charge to the Company’s recorded goodwill was deemed required as a result of this updated assessment. For the quarter ended May 31, 2020, given the significant decline in revenues, the Company reviewed the assumptions used in the previous assessment and found them to still be materially accurate. The Company uses qualitative factors to determine whether it is more likely than not (likelihood of more than 50%) that the fair value of a reporting unit exceeds its carrying amount, including goodwill. Some of the qualitative factors used in applying this test include consideration of macroeconomic conditions, industry and market conditions, cost factors affecting the business, overall financial performance of the business, and performance of the share price of the Company. If qualitative factors are not deemed sufficient to conclude that the fair value of the reporting unit more likely than not exceeds its carrying value, then a one-step approach is applied in making an evaluation. The evaluation utilizes multiple valuation methodologies, including a market approach (market price multiples of comparable companies) and an income approach (discounted cash flow analysis). The computations require management to make significant estimates and assumptions, including, among other things, selection of comparable publicly traded companies, the discount rate applied to future earnings reflecting a weighted average cost of capital, and earnings growth assumptions. A discounted cash flow analysis requires management to make various assumptions about future sales, operating margins, capital expenditures, working capital, and growth rates. If the evaluation results in the fair value of the goodwill for the reporting unit being lower than the carrying value, an impairment charge is recorded. The carrying amount and accumulated amortization of the Company’s intangible assets at each balance sheet date are as follows (in thousands): Weighted Average Remaining Gross Life Carrying Accumulated As of May 31, 2020 (in years) Amount Amortization Net Amortized intangible assets Trademarks and trade names 12.3 $ 26,161 $ 6,318 $ 19,843 Customer lists 7.2 73,102 38,576 34,526 Non-compete 1.6 767 551 216 Patent — 783 783 — Total 9.0 $ 100,813 $ 46,228 $ 54,585 As of February 29, 2020 Amortized intangible assets Trademarks and trade names 12.6 $ 26,161 $ 5,811 $ 20,350 Customer lists 7.4 73,102 37,161 35,941 Non-compete 1.8 767 501 266 Patent — 783 783 — Total 9.2 $ 100,813 $ 44,256 $ 56,557 Aggregate amortization expense for the three months ended May 31, 2020 and May 31, 2019 was $2.0 million and $1.9 million, respectively. The Company’s estimated amortization expense for the current and next four fiscal years is as follows (in thousands): 2021 $ 7,772 2022 7,596 2023 6,666 2024 6,516 2025 6,341 Changes in the net carrying amount of goodwill as of the dates indicated are as follows (in thousands): Balance as of March 1, 2019 $ 81,634 Goodwill acquired 893 Balance as of February 29, 2020 82,527 Goodwill acquired — Balance as of May 31, 2020 $ 82,527 During the three months ended May 31, 2019, $0.9 million was added to goodwill related to the acquisition of Integrated.

Accrued Expenses

Accrued Expenses	3 Months Ended
	May 31, 2020
Payables And Accruals [Abstract]
Accrued Expenses	8. Accrued Expenses The following table summarizes the components of accrued expenses as of the dates indicated (in thousands): May 31, February 29, 2020 2020 Employee compensation and benefits $ 11,384 $ 13,171 Taxes other than income 1,025 464 Accrued legal and professional fees 141 190 Accrued interest 80 78 Accrued utilities 90 90 Accrued acquisition related obligations 193 240 Accrued credit card fees 170 195 Other accrued expenses 680 641 $ 13,763 $ 15,069

Long-Term Debt

Long-Term Debt	3 Months Ended
	May 31, 2020
Debt Disclosure [Abstract]
Long-Term Debt	9. Long-Term Debt The Company is party to a Second Amended and Restated Credit Agreement, which has been amended from time to time, pursuant to which a credit facility has been extended to the Company until November 11, 2021 (the “ Credit Facility The Credit Facility bears interest at LIBOR plus a spread ranging from 1.85% to 2.5%. The Company had no outstanding long-term debt under the revolving credit line as of May 31, 2020. The rate is determined by the Company’s fixed charge coverage ratio of total funded debt to earnings before interest, taxes, depreciation and amortization (“ EBITDA

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	May 31, 2020
Equity [Abstract]
Shareholders' Equity	10. Shareholders’ Equity The Company’s board of directors (the “ Board During the three months ended May 31, 2020 the Company repurchased 26,472 shares of common stock under the program at an average price of $16.00 per share. Since the program’s inception in October 2008, there have been 1,842,826 common shares repurchased at an average price of $15.92 per share. As of May 31, 2020, $10.7 million remained available to repurchase shares of the Company’s common stock under the program.

Stock Option Plan and Stock Bas

Stock Option Plan and Stock Based Compensation	3 Months Ended
	May 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock Option Plan and Stock Based Compensation	11. Stock Option Plan and Stock Based Compensation The Company grants stock options and restricted stock to key executives, managerial employees and non-employee directors. At May 31, 2020, the Company had one stock option plan, the 2004 Long-Term Incentive Plan of Ennis, Inc., as amended and restated as of June 30, 2011 (the “ Plan The Company recognizes compensation expense for stock options and restricted stock grants on a straight-line basis over the requisite service period. For the three months ended May 31, 2020 and May 31, 2019, the Company included in selling, general and administrative expenses, compensation expense related to share-based compensation of $0.3 million and $0.4 million, respectively. Stock Options As of May 31, 2020, the Company had no outstanding vested or unvested stock options. The Company had no stock option activity for the three months ended May 31, 2020. No stock options were granted during the three months ended May 31, 2020 and May 31, 2019. The Company had no unvested stock options outstanding at any time during the three months ended May 31, 2020. Restricted Stock The following activity occurred with respect to the Company’s restricted stock awards for the three months ended May 31, 2020: Weighted Average Number of Grant Date Shares Fair Value Outstanding at March 1, 2020 143,926 $ 19.79 Granted 38,511 17.23 Terminated — — Vested (64,151 ) 18.94 Outstanding at May 31, 2020 118,286 $ 19.42 As of May 31, 2020, the total remaining unrecognized compensation cost related to unvested restricted stock granted under the Plan was approximately $2.0 million. The weighted average remaining requisite service period of the unvested restricted stock awards was 2.0 years.

Pension Plan

Pension Plan	3 Months Ended
	May 31, 2020
Compensation And Retirement Disclosure [Abstract]
Pension Plan	12. Pension Plan The Company and certain subsidiaries have a noncontributory defined benefit retirement plan (the “ Pension Plan Pension expense is composed of the following components included in cost of goods sold and selling, general, and administrative expenses in the Company’s consolidated statements of earnings (in thousands): Three months ended May 31, 2020 2019 Components of net periodic benefit cost Service cost $ 318 $ 272 Interest cost 438 564 Expected return on plan assets (1,019 ) (1,050 ) Amortization of: Unrecognized net loss 840 509 Net periodic benefit cost $ 577 $ 295 The Company is required to make contributions to the Pension Plan. These contributions are required under the minimum funding requirements of the Employee Retirement Income Security Act of 1974 (“ ERISA

Earnings Per Share

Earnings Per Share	3 Months Ended
	May 31, 2020
Earnings Per Share [Abstract]
Earnings Per Share	13. Earnings Per Share Basic earnings per share have been computed by dividing net earnings by the weighted average number of common shares outstanding during the applicable period. Diluted earnings per share reflect the potential dilution that could occur if stock options or other contracts to issue common shares were exercised or converted into common stock. As of May 31, 2020 and May 31, 2019, no options were outstanding. The following table sets forth the computation for basic and diluted earnings per share for the periods indicated: Three months ended May 31, 2020 2019 Basic weighted average common shares outstanding 25,975,010 26,028,337 Effect of dilutive options — — Diluted weighted average common shares outstanding 25,975,010 26,028,337 Earnings per share Net earnings - basic $ 0.16 $ 0.37 Net earnings - diluted $ 0.16 $ 0.37 Cash dividends $ 0.225 $ 0.225

Concentrations of Risk

Concentrations of Risk	3 Months Ended
	May 31, 2020
Risks And Uncertainties [Abstract]
Concentrations of Risk	14. Concentrations of Risk Financial instruments that potentially subject the Company to a concentration of credit risk principally consist of cash and trade receivables. Cash is placed with high-credit quality financial institutions. Although bad debt expense increased during the quarter due to the economic impact of COVID-19, the Company believes its credit risk with respect to trade receivables is limited due to industry and geographic diversification. As disclosed on the consolidated balance sheets, the Company maintains an allowance for doubtful receivables to cover the Company’s estimate of credit losses associated with accounts receivable. The Company, for quality and pricing reasons, purchases its paper products from a limited number of suppliers. While other sources may be available to the Company to purchase these products, they may not be available at the cost or at the quality the Company has come to expect. For the purposes of the consolidated statements of cash flows, the Company considers cash to include cash on hand and in bank accounts. The Federal Deposit Insurance Corporation insures accounts up to $250,000. At May 31, 2020, cash balances included $74.5 million that was not federally insured because it represented amounts in individual accounts above the federally insured limit for each such account. This at-risk amount is subject to fluctuation on a daily basis. While management does not believe there is significant risk with respect to such deposits, no assurance can be made that the Company will not experience losses on the Company’s deposits.

Related Party Transactions

Related Party Transactions	3 Months Ended
	May 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	15. Related Party Transactions The Company leases a facility and sells product to an entity controlled by a member of the Board who was the former owner of Integrated, a business that the Company acquired. The total right-of-use asset and related lease liability as of May 31, 2020 was $1.7 million and $1.7 million, respectively. During the three months ended May 31, 2020, total lease payment made to, and sales made to, the related party were approximately $0.1 million and $0.5 million, respectively.

Covid-19 Pandemic

Covid-19 Pandemic	3 Months Ended
	May 31, 2020
Extraordinary And Unusual Items [Abstract]
Covid-19 Pandemic	16. COVID-19 Pandemic On March 11, 2020, the World Health Organization declared the ongoing COVID-19 outbreak to be a global pandemic. In response to the rapid spread of COVID-19 within the United States, federal, state and local governments have imposed varying degrees of restrictions on social and commercial activity to promote social distancing in an effort to slow the spread of the illness. Thus far, in part due to the Company’s involvement in many important sectors of the economy, including healthcare, government, food and beverage and banking, the Company’s plants have been deemed “essential,” and therefore have been allowed by the government to remain operating. During the outbreak, the Company has continued to operate most of its manufacturing facilities, albeit at reduced production levels. Due to reduced sales during the pandemic, particularly in our transactional forms, the Company has furloughed 320 employees, ceased operating in one of its owned under-utilized facilities and exited two facilities with expiring leases. While economic activity remains depressed due to the pandemic, the Company will continue to monitor projected sales and proactively adjust costs as necessary. The Company believes the cost cutting measures it has implemented thus far will not impact its ability to service increased customer demand when economic conditions improve. While certain parts of the economy have begun to reopen as restrictions have been lifted, it is possible that additional restrictions will be put in place in the future, and the impact of COVID-19 is expected to continue to present challenges to the Company’s business, including by depressing demand for some of the Company’s products, for an indeterminate period. As a result, for the remainder of fiscal year 2021, the Company believes that it may report lower sales and earnings than it would have absent the impact of the pandemic. The extent of COVID-19’s impact will depend on numerous factors that are unknown, uncertain and cannot be predicted.

Subsequent Events

Subsequent Events	3 Months Ended
	May 31, 2020
Subsequent Events [Abstract]
Subsequent Events	17. Subsequent Events On June 19, 2020, the Board declared a quarterly dividend on the Company’s common stock of 22.5 cents per share, which will be paid on August 10, 2020 to shareholders of record as of July 10, 2020. The expected payout for this dividend is approximately $5.9 million.

Significant Accounting Polici_2

Significant Accounting Policies and General Matters (Policies)	3 Months Ended
	May 31, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation These unaudited consolidated financial statements of Ennis, Inc. and its subsidiaries (collectively referred to as the “Company,” “Registrant,” “Ennis,” or “we,” “us,” or “our”) for the period ended May 31, 2020 have been prepared in accordance with generally accepted accounting principles for interim financial reporting. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended February 29, 2020, from which the accompanying consolidated balance sheet at February 29, 2020 was derived. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of management, all adjustments considered necessary for a fair presentation of the interim financial information have been included and are of a normal recurring nature. In preparing the financial statements, the Company is required to make estimates and assumptions that affect the disclosure and reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The Company evaluates these estimates and judgments on an ongoing basis, including those related to bad debts, inventory valuations, property, plant and equipment, intangible assets, pension plan, accrued liabilities, and income taxes. The Company bases estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances. The results of operations for any interim period are not necessarily indicative of the results of operations for a full year, especially in light of the uncertainties surrounding the impact of the novel coronavirus (COVID-19) pandemic.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Updates In August 2018, the Financial Accounting Standards Board (“ FASB ASU Fair Value Measurement (Topic 820) ASU 2018-13 In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ASU 2016-13 Recently Issued Accounting Updates In December 2019, the FASB issued Accounting Standards Update ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ASU 2019-12 Income Taxes In August 2018, the FASB issued ASU No. 2018-14, Compensation-Retirement Benefits-Defined Benefit Plans-General (Topic 715-20): Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans ASU 2018-14

Accounts Receivable and Allow_2

Accounts Receivable and Allowance for Doubtful Receivables (Tables)	3 Months Ended
	May 31, 2020
Receivables [Abstract]
Allowance for Doubtful Receivables	The following table presents the activity in the Company’s allowance for doubtful receivables (in thousands): Three months ended May 31, 2020 2019 Balance at beginning of period $ 715 $ 1,020 Bad debt expense, net of recoveries 648 40 Accounts written off (423 ) (19 ) Balance at end of period $ 940 $ 1,041

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	May 31, 2020
Inventory Disclosure [Abstract]
Components of Inventories	The following table summarizes the components of inventories at the different stages of production as of the dates indicated (in thousands): May 31, February 29, 2020 2020 Raw material $ 21,340 $ 20,267 Work-in-process 2,830 4,557 Finished goods 10,065 10,011 $ 34,235 $ 34,835

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	May 31, 2020
Business Acquisition [Line Items]
Summary of Operating Information on a Pro Forma Basis	The following table sets forth certain operating information on a pro forma basis as though all Integrated and Flesh operations had been acquired as of March 1, 2019, after the estimated impact of adjustments such as amortization of intangible assets, depreciation expense and interest expense and related tax effects (in thousands, except per share amounts). Three months ended May 31, 2019 Pro forma net sales $ 116,136 Pro forma net earnings 9,569 Pro forma earnings per share - diluted 0.37
The Flesh Company (Flesh) [Member]
Business Acquisition [Line Items]
Summary of Purchase Price Allocation	The following is a summary of the preliminary purchase price allocation for Flesh (in thousands): Accounts receivable $ 2,480 Inventories 1,343 Other assets 191 Right-of-use asset 715 Property, plant & equipment 7,065 Customer lists 337 Trademarks 880 Non-compete 20 Accounts payable and accrued liabilities (2,251 ) Operating lease liability (700 ) Deferred income taxes (206 ) $ 9,874
Integrated Print & Graphics (Integrated) [Member]
Business Acquisition [Line Items]
Summary of Purchase Price Allocation	The following is a summary of the purchase price allocation for Integrated (in thousands): Accounts receivable $ 1,971 Inventories 1,322 Other assets 72 Property, plant & equipment 3,828 Right-of-use asset 2,041 Customer lists 896 Trademarks 896 Non-compete 25 Goodwill 893 Accounts payable and accrued liabilities (1,044 ) Operating lease liability (2,041 ) $ 8,859

Leases (Tables)

Leases (Tables)	3 Months Ended
	May 31, 2020
Leases [Abstract]
Components of Lease Expense	Components of lease expense for the three months ended May 31, 2020 and May 31, 2019 were as follows (in thousands): Three months ended May 31, 2020 May 31, 2019 Operating lease cost $ 1,627 $ 1,577 Supplemental cash flow information related to leases was as follows: Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 1,612 $ 1,569 Right-of-use assets obtained in exchange for lease obligations Operating leases $ — $ — Weighted Average Remaining Lease Terms Operating leases 4 Years Weighted Average Discount Rate Operating leases 4.34 %
Summary of Future Minimum Lease Commitments Under Non-cancelable Operating Leases	Future minimum lease commitments under non-cancelable operating leases for each of the fiscal years ending are as follows (in thousands): Operating Lease Commitments 2021 (remaining 9 months) $ 4,143 2022 5,194 2023 4,245 2024 2,946 2025 2,154 2026 877 Thereafter 621 Total future minimum lease payments $ 20,180 Less imputed interest 1,751 Present value of lease liabilities $ 18,429

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	May 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Carrying Amount and Accumulated Amortization of Intangible Assets	The carrying amount and accumulated amortization of the Company’s intangible assets at each balance sheet date are as follows (in thousands): Weighted Average Remaining Gross Life Carrying Accumulated As of May 31, 2020 (in years) Amount Amortization Net Amortized intangible assets Trademarks and trade names 12.3 $ 26,161 $ 6,318 $ 19,843 Customer lists 7.2 73,102 38,576 34,526 Non-compete 1.6 767 551 216 Patent — 783 783 — Total 9.0 $ 100,813 $ 46,228 $ 54,585 As of February 29, 2020 Amortized intangible assets Trademarks and trade names 12.6 $ 26,161 $ 5,811 $ 20,350 Customer lists 7.4 73,102 37,161 35,941 Non-compete 1.8 767 501 266 Patent — 783 783 — Total 9.2 $ 100,813 $ 44,256 $ 56,557
Estimated Amortization Expense	The Company’s estimated amortization expense for the current and next four fiscal years is as follows (in thousands): 2021 $ 7,772 2022 7,596 2023 6,666 2024 6,516 2025 6,341
Changes in Net Carrying Amount of Goodwill	Changes in the net carrying amount of goodwill as of the dates indicated are as follows (in thousands): Balance as of March 1, 2019 $ 81,634 Goodwill acquired 893 Balance as of February 29, 2020 82,527 Goodwill acquired — Balance as of May 31, 2020 $ 82,527

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	May 31, 2020
Payables And Accruals [Abstract]
Components of Accrued Expenses	The following table summarizes the components of accrued expenses as of the dates indicated (in thousands): May 31, February 29, 2020 2020 Employee compensation and benefits $ 11,384 $ 13,171 Taxes other than income 1,025 464 Accrued legal and professional fees 141 190 Accrued interest 80 78 Accrued utilities 90 90 Accrued acquisition related obligations 193 240 Accrued credit card fees 170 195 Other accrued expenses 680 641 $ 13,763 $ 15,069

Stock Option Plan and Stock B_2

Stock Option Plan and Stock Based Compensation (Tables)	3 Months Ended
	May 31, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Restricted Stock Awards Activity	The following activity occurred with respect to the Company’s restricted stock awards for the three months ended May 31, 2020: Weighted Average Number of Grant Date Shares Fair Value Outstanding at March 1, 2020 143,926 $ 19.79 Granted 38,511 17.23 Terminated — — Vested (64,151 ) 18.94 Outstanding at May 31, 2020 118,286 $ 19.42

Pension Plan (Tables)

Pension Plan (Tables)	3 Months Ended
	May 31, 2020
Compensation And Retirement Disclosure [Abstract]
Summary of Pension Expense Composed of Components Included in Cost of Goods Sold and Selling, General and Administrative Expenses	Pension expense is composed of the following components included in cost of goods sold and selling, general, and administrative expenses in the Company’s consolidated statements of earnings (in thousands): Three months ended May 31, 2020 2019 Components of net periodic benefit cost Service cost $ 318 $ 272 Interest cost 438 564 Expected return on plan assets (1,019 ) (1,050 ) Amortization of: Unrecognized net loss 840 509 Net periodic benefit cost $ 577 $ 295

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	May 31, 2020
Earnings Per Share [Abstract]
Computation for Basic and Diluted Earnings Per Share	The following table sets forth the computation for basic and diluted earnings per share for the periods indicated: Three months ended May 31, 2020 2019 Basic weighted average common shares outstanding 25,975,010 26,028,337 Effect of dilutive options — — Diluted weighted average common shares outstanding 25,975,010 26,028,337 Earnings per share Net earnings - basic $ 0.16 $ 0.37 Net earnings - diluted $ 0.16 $ 0.37 Cash dividends $ 0.225 $ 0.225

Revenue - Additional Informatio

Revenue - Additional Information (Detail)	3 Months Ended
	May 31, 2020
Disaggregation Of Revenue [Line Items]
Revenue unsatisfied performance obligation, practical expedient	true
Minimum [Member]
Disaggregation Of Revenue [Line Items]
Contract with customer, customer payment terms	30 days
Maximum [Member]
Disaggregation Of Revenue [Line Items]
Contract with customer, customer payment terms	60 days

Accounts Receivable and Allow_3

Accounts Receivable and Allowance for Doubtful Receivables - Allowance for Doubtful Receivables (Detail) - USD ($) $ in Thousands	3 Months Ended
	May 31, 2020	May 31, 2019
Receivables [Abstract]
Balance at beginning of period	$ 715	$ 1,020
Bad debt expense, net of recoveries	648	40
Accounts written off	(423)	(19)
Balance at end of period	$ 940	$ 1,041

Inventories - Components of Inv

Inventories - Components of Inventories (Detail) - USD ($) $ in Thousands	May 31, 2020	Feb. 29, 2020
Inventory Disclosure [Abstract]
Raw material	$ 21,340	$ 20,267
Work-in-process	2,830	4,557
Finished goods	10,065	10,011
Inventories	$ 34,235	$ 34,835

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail)	Jul. 15, 2019USD ($)	May 31, 2020USD ($)Location	May 31, 2020USD ($)	May 31, 2020USD ($)	Feb. 29, 2020USD ($)	Mar. 16, 2019USD ($)	Feb. 28, 2019USD ($)
Business Acquisition [Line Items]
Percentage of assets acquired and liabilities assumed at their acquisition date fair values		100.00%	100.00%	100.00%
Goodwill		$ 82,527,000	$ 82,527,000	$ 82,527,000	$ 82,527,000		$ 81,634,000
The Flesh Company (Flesh) [Member]
Business Acquisition [Line Items]
Total purchase consideration	$ 9,874,000
Contingent consideration payable, period	4 years
Number of locations | Location		2
Acquisition related costs incurred			$ 200,000
Intangible assets	$ 1,200,000
Integrated Print & Graphics (Integrated) [Member]
Business Acquisition [Line Items]
Total purchase consideration						$ 8,859,000
Acquisition related costs incurred				$ 29,000
Intangible assets						1,800,000
Goodwill						$ 893,000
Maximum [Member] | The Flesh Company (Flesh) [Member]
Business Acquisition [Line Items]
Potential earn-out consideration	500,000
Contingent consideration payable	$ 500,000

Acquisitions - Summary of Preli

Acquisitions - Summary of Preliminary Purchase Price Allocation (Detail) - USD ($) $ in Thousands	May 31, 2020	Feb. 29, 2020	Jul. 15, 2019	Mar. 16, 2019	Feb. 28, 2019
Business Acquisition [Line Items]
Goodwill	$ 82,527	$ 82,527			$ 81,634
The Flesh Company (Flesh) [Member]
Business Acquisition [Line Items]
Accounts receivable			$ 2,480
Inventories			1,343
Other assets			191
Right-of-use asset			715
Property, plant & equipment			7,065
Accounts payable and accrued liabilities			(2,251)
Operating lease liability			(700)
Deferred income taxes			(206)
Total purchase consideration			9,874
Integrated Print & Graphics (Integrated) [Member]
Business Acquisition [Line Items]
Accounts receivable				$ 1,971
Inventories				1,322
Other assets				72
Right-of-use asset				2,041
Property, plant & equipment				3,828
Goodwill				893
Accounts payable and accrued liabilities				(1,044)
Operating lease liability				(2,041)
Total purchase consideration				8,859
Customer Lists [Member] | The Flesh Company (Flesh) [Member]
Business Acquisition [Line Items]
Non-compete, Customer lists, Trade names and Trademark			337
Customer Lists [Member] | Integrated Print & Graphics (Integrated) [Member]
Business Acquisition [Line Items]
Non-compete, Customer lists, Trade names and Trademark				896
Trademarks [Member] | The Flesh Company (Flesh) [Member]
Business Acquisition [Line Items]
Non-compete, Customer lists, Trade names and Trademark			880
Trademarks [Member] | Integrated Print & Graphics (Integrated) [Member]
Business Acquisition [Line Items]
Non-compete, Customer lists, Trade names and Trademark				896
Non-Compete [Member] | The Flesh Company (Flesh) [Member]
Business Acquisition [Line Items]
Non-compete, Customer lists, Trade names and Trademark			$ 20
Non-Compete [Member] | Integrated Print & Graphics (Integrated) [Member]
Business Acquisition [Line Items]
Non-compete, Customer lists, Trade names and Trademark				$ 25

Acquisitions - Summary of Opera

Acquisitions - Summary of Operating Information on Pro Forma Basis (Detail) $ / shares in Units, $ in Thousands	3 Months Ended
	May 31, 2019USD ($)$ / shares
Business Combinations [Abstract]
Pro forma net sales	$ 116,136
Pro forma net earnings	$ 9,569
Pro forma earnings per share - diluted | $ / shares	$ 0.37

Leases - Additional Information

Leases - Additional Information (Detail)	3 Months Ended
	May 31, 2020USD ($)
Lessee Lease Description [Line Items]
Leases description	The Company leases certain of its facilities and equipment under operating leases, which are recorded as right-of-use assets and lease liabilities. The Company’s leases generally have terms of 1 – 5 years, with certain leases including renewal options to extend the leases for additional periods at the Company’s discretion. At lease inception, all renewal options reasonably certain to be exercised are considered when determining the lease term. The Company currently does not have leases that include options to purchase or provisions that would automatically transfer ownership of the leased property to the Company.
Leases, renewal options, description	The Company’s leases generally have terms of 1 – 5 years, with certain leases including renewal options to extend the leases for additional periods at the Company’s discretion.
Lessee operating lease, existence of option to extend	true
Variable lease cost	$ 0
Minimum [Member]
Lessee Lease Description [Line Items]
Leases terms	1 year
Maximum [Member]
Lessee Lease Description [Line Items]
Leases terms	5 years

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	May 31, 2020	May 31, 2019
Lease Cost [Abstract]
Operating lease cost	$ 1,627	$ 1,577
Supplemental cash flow information related to leases was as follows:
Cash paid for amounts included in the measurement of lease liabilities, Operating cash flows from operating leases	$ 1,612	$ 1,569
Weighted Average Remaining Lease Terms, Operating leases	4 years
Weighted Average Discount Rate, Operating leases	4.34%

Leases - Summary of Future Mini

Leases - Summary of Future Minimum Lease Commitments Under Non-cancelable Operating Leases (Detail) $ in Thousands	May 31, 2020USD ($)
Operating Lease Liabilities Payments Due [Abstract]
2021 (remaining 9 months)	$ 4,143
2022	5,194
2023	4,245
2024	2,946
2025	2,154
2026	877
Thereafter	621
Total future minimum lease payments	20,180
Less imputed interest	1,751
Present value of lease liabilities	$ 18,429

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended		12 Months Ended
	May 31, 2020	May 31, 2019	Feb. 29, 2020
Finite-Lived Intangible Assets [Line Items]
Goodwill Impairment charge	$ 0
Amortization of trade names, customer lists, and patent	1,972,000	$ 1,904,000
Goodwill acquired			$ 893,000
Integrated Print & Graphics (Integrated) [Member]
Finite-Lived Intangible Assets [Line Items]
Goodwill acquired		$ 900,000

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Carrying Amount and Accumulated Amortization of Intangible Assets (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	May 31, 2020	Feb. 29, 2020
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	9 years	9 years 2 months 12 days
Gross Carrying Amount	$ 100,813	$ 100,813
Accumulated Amortization	46,228	44,256
Amortized intangible assets, Net	$ 54,585	$ 56,557
Trademarks and Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	12 years 3 months 18 days	12 years 7 months 6 days
Gross Carrying Amount	$ 26,161	$ 26,161
Accumulated Amortization	6,318	5,811
Amortized intangible assets, Net	$ 19,843	$ 20,350
Customer Lists [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	7 years 2 months 12 days	7 years 4 months 24 days
Gross Carrying Amount	$ 73,102	$ 73,102
Accumulated Amortization	38,576	37,161
Amortized intangible assets, Net	$ 34,526	$ 35,941
Non-Compete [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Life (in years)	1 year 7 months 6 days	1 year 9 months 18 days
Gross Carrying Amount	$ 767	$ 767
Accumulated Amortization	551	501
Amortized intangible assets, Net	216	266
Patent [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	783	783
Accumulated Amortization	$ 783	$ 783

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Estimated Amortization Expense (Detail) $ in Thousands	May 31, 2020USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
2021	$ 7,772
2022	7,596
2023	6,666
2024	6,516
2025	$ 6,341

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Changes in Net Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	May 31, 2020	Feb. 29, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill, Beginning balance	$ 82,527	$ 81,634
Goodwill acquired		893
Goodwill, Ending balance	$ 82,527	$ 82,527

Accrued Expenses - Components o

Accrued Expenses - Components of Accrued Expenses (Detail) - USD ($) $ in Thousands	May 31, 2020	Feb. 29, 2020
Payables And Accruals [Abstract]
Employee compensation and benefits	$ 11,384	$ 13,171
Taxes other than income	1,025	464
Accrued legal and professional fees	141	190
Accrued interest	80	78
Accrued utilities	90	90
Accrued acquisition related obligations	193	240
Accrued credit card fees	170	195
Other accrued expenses	680	641
Accrued expenses, Total	$ 13,763	$ 15,069

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail)	3 Months Ended
	May 31, 2020USD ($)
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Long-term debt	$ 0
Second Amendment [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Credit facility maturity date	Nov. 11, 2021
Revolving credit facility, maximum borrowing capacity	$ 100,000,000
Revolving credit facility, additional borrowing capacity	$ 50,000,000
Fixed charge coverage ratio, minimum	1.25
Line of credit facility, borrowing capacity description	(i) the Company’s consolidated net leverage ratio may not exceed 3.00:1.00, (ii) the Company’s fixed charge coverage ratio may not be less than 1.25:1.00, and (iii) the Company may make dividends or distributions to shareholders so long as (A) no event of default has occurred and is continuing and (B) the Company’s net leverage ratio both before and after giving effect to any such dividend or distribution is equal to or less than 2.50:1.00.
Revolving credit facility, interest rate description	LIBOR plus a spread ranging from 1.85% to 2.5%
Second Amendment [Member] | Revolving Credit Facility [Member] | Maximum [Member]
Line of Credit Facility [Line Items]
Net leverage ratio	3
Revolving credit facility, variable basis spread	2.50%
Second Amendment [Member] | Revolving Credit Facility [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Revolving credit facility, variable basis spread	1.85%
Second Amendment [Member] | Revolving Credit Facility [Member] | Dividends or Distributions Effect [Member] | Minimum [Member]
Line of Credit Facility [Line Items]
Net leverage ratio	2.50
Second Amendment [Member] | Letter of Credit [Member]
Line of Credit Facility [Line Items]
Long-term debt	$ 20,000,000
Second Amendment [Member] | Swing-line Loans [Member]
Line of Credit Facility [Line Items]
Long-term debt	15,000,000
Third Amendment [Member] | Standby Letters of Credit [Member]
Line of Credit Facility [Line Items]
Long-term debt	700,000
Revolving credit facility, remaining borrowing capacity	$ 99,300,000

Shareholders' Equity - Addition

Shareholders' Equity - Additional Information (Detail)	3 Months Ended	139 Months Ended
	May 31, 2020USD ($)$ / sharesshares	May 31, 2020USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of common stock | shares	26,472	1,842,826
Repurchase of common stock, average cost per share | $ / shares	$ 16	$ 15.92
Total remaining amount available to repurchase of shares	$ 10,700,000
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock repurchase program, authorized aggregate amount	$ 40,000,000	$ 40,000,000

Stock Option Plan and Stock B_3

Stock Option Plan and Stock Based Compensation - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	May 31, 2020	May 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unissued common stock reserved	481,593
Stock option award maximum term	10 years
Share based compensation arrangements by share based payment award vesting period maximum	5 years
Number of outstanding vested and unvested stock options	0
Number of stock options granted	0	0
Number of unvested stock options outstanding	0
Remaining unrecognized compensation cost related to unvested restricted stock	$ 2
Weighted average remaining requisite service period of the unvested restricted stock awards	2 years
Selling, General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense related share based compensation before tax	$ 0.3	$ 0.4

Stock Option Plan and Stock B_4

Stock Option Plan and Stock Based Compensation - Summary of Restricted Stock Awards Activity (Detail) - Restricted Stock [Member]	3 Months Ended
	May 31, 2020$ / sharesshares
Restricted stock grant activity
Outstanding at Beginning, Number of Shares | shares	143,926
Number of Shares, Granted | shares	38,511
Number of Shares, Vested | shares	(64,151)
Outstanding at Ending, Number of Shares | shares	118,286
Outstanding at Beginning, Weighted Average Grant Date Fair value | $ / shares	$ 19.79
Weighted Average Grant Date Fair Value, Granted | $ / shares	17.23
Weighted Average Grant Date Fair Value, Vested | $ / shares	18.94
Outstanding at Ending, Weighted Average Grant Date Fair value | $ / shares	$ 19.42

Pension Plan - Additional Infor

Pension Plan - Additional Information (Detail) - USD ($)	3 Months Ended
	May 31, 2020	Feb. 28, 2021	Feb. 29, 2020
Defined Benefit Plan Disclosure [Line Items]
Employees covered under noncontributory Pension Plan	18.00%
Compensation period preceding retirement and termination	5 years
Period used for calculating Pension Plan liability	25 years
Unfunded pension liability	$ 8,936,000		$ 8,936,000
Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected contributions	1,500,000
Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Expected contributions	$ 3,000,000
Scenario Forecast [Member]
Defined Benefit Plan Disclosure [Line Items]
Minimum required contribution to the plan		$ 0

Pension Plan - Summary of Pensi

Pension Plan - Summary of Pension Expense Composed of Components Included in Cost of Goods Sold and Selling, General and Administrative Expenses (Detail) - USD ($) $ in Thousands	3 Months Ended
	May 31, 2020	May 31, 2019
Components of net periodic benefit cost
Service cost	$ 318	$ 272
Interest cost	438	564
Expected return on plan assets	(1,019)	(1,050)
Amortization of:
Unrecognized net loss	840	509
Net periodic benefit cost	$ 577	$ 295

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	May 31, 2020	May 31, 2019
Earnings Per Share [Abstract]
Options outstanding	0	0

Earnings Per Share - Computatio

Earnings Per Share - Computation for Basic and Diluted Earnings Per Share (Detail) - $ / shares	3 Months Ended
	May 31, 2020	May 31, 2019
Earnings Per Share [Abstract]
Basic weighted average common shares outstanding	25,975,010	26,028,337
Diluted weighted average common shares outstanding	25,975,010	26,028,337
Earnings per share
Net earnings - basic	$ 0.16	$ 0.37
Net earnings - diluted	0.16	0.37
Cash dividends	$ 0.225	$ 0.225

Concentrations of Risk - Additi

Concentrations of Risk - Additional Information (Detail)	May 31, 2020USD ($)
Concentration Risk [Line Items]
Cash balances not federally insured	$ 74,500,000
Maximum [Member]
Concentration Risk [Line Items]
Maximum insurance available to depositors under the FDIC's general deposit insurance rules	$ 250,000

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	May 31, 2020	May 31, 2019	Feb. 29, 2020
Related Party Transaction [Line Items]
Operating lease right-of-use assets	$ 18,647		$ 20,068
Operating lease liability	18,429
Operating lease cost	1,627	$ 1,577
Integrated Print & Graphics (Integrated) [Member]
Related Party Transaction [Line Items]
Operating lease right-of-use assets	1,700
Operating lease liability	1,700
Operating lease cost	100
Sales received from lease	$ 500

Covid-19 Pandemic - Additional

Covid-19 Pandemic - Additional Information (Detail) - COVID-19 [Member]	3 Months Ended
	May 31, 2020EmployeeFacility
Unusual Or Infrequent Item [Line Items]
Number of employees furloughed | Employee	320
Number of under-utilized facilities ceased	1
Number of facilities exited with expiring leases	2

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event [Member] $ / shares in Units, $ in Millions	Jun. 19, 2020USD ($)$ / shares
Subsequent Event [Line Items]
Dividends payable, date declared	Jun. 19, 2020
Dividend payable date	Aug. 10, 2020
Dividend payable, date of record	Jul. 10, 2020
Expected payout of dividend | $	$ 5.9
Common Stock [Member]
Subsequent Event [Line Items]
Dividend payable per share | $ / shares	$ 0.225