Park Aerospace (PKE) 10-Q 9 Jan 15 2015 Q3 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	9 Months Ended
	Nov. 30, 2014	Jan. 05, 2015
Entity Registrant Name	PARK ELECTROCHEMICAL CORP
Entity Central Index Key	76267
Current Fiscal Year End Date	2
Entity Filer Category	Accelerated Filer
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		20,945,634
Document Type	10-Q
Document Period End Date	30-Nov-14
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q3
Amendment Flag	FALSE

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) (USD $)	Nov. 30, 2014	Mar. 02, 2014
In Thousands, unless otherwise specified
Current assets:
Cash and cash equivalents	$150,256	$133,150	[1]
Marketable securities (Note 3)	135,051	137,206	[1]
Accounts receivable, less allowance for doubtful accounts of $400 and $416, respectively	20,975	22,881	[1]
Inventories (Note 4)	14,197	13,871	[1]
Prepaid expenses and other current assets	3,105	4,132	[1]
Total current assets	323,584	311,240	[1]
Property, plant and equipment, net	27,362	29,674	[1]
Goodwill and other intangible assets	9,847	9,847	[1]
Restricted cash (Note 5)	25,000	25,000	[1]
Other assets	3,019	1,332	[1]
Total assets	388,812	377,093	[1]
Current liabilities:
Current portion of long-term debt (Note 5)	17,500	10,000	[1]
Accounts payable	4,622	6,109	[1]
Accrued liabilities	5,686	5,139	[1]
Income taxes payable	4,321	2,995	[1]
Total current liabilities	32,129	24,243	[1]
Long-term debt (Note 5)	86,500	94,000	[1]
Deferred income taxes	58,124	58,124	[1]
Other liabilities	261	183	[1]
Total liabilities	177,014	176,550	[1]
Commitments and contingencies (Note 11)
Shareholders' equity:
Common stock	2,095	2,088	[1]
Additional paid-in capital	164,229	161,677	[1]
Retained earnings	44,579	35,651	[1]
Accumulated other comprehensive income	1,161	1,221	[1]
	212,064	200,637	[1]
Less treasury stock, at cost	-266	-94	[1]
Total shareholders' equity	211,798	200,543	[1]
Total liabilities and shareholders' equity	$388,812	$377,093	[1]
[1]	The balance sheet at March 2, 2014 has been derived from the audited financial statements at that date.

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $)	Nov. 30, 2014	Mar. 02, 2014
In Thousands, unless otherwise specified
Allowance for doubtful accounts receivable	$400	$416	[1]
[1]	The balance sheet at March 2, 2014 has been derived from the audited financial statements at that date.

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Nov. 30, 2014	Dec. 01, 2013	Nov. 30, 2014	Dec. 01, 2013
Net sales	$34,679	$39,678	$125,845	$127,613
Cost of sales	26,081	28,640	88,147	89,963
Gross profit	8,598	11,038	37,698	37,650
Selling, general and administrative expenses	5,754	6,106	18,602	18,703
Restructuring charges (Note 6)	636		986	319
Earnings from operations	2,208	4,932	18,110	18,628
Interest expense (Note 5)	361	187	1,074	543
Interest income	222	139	595	284
Earnings before income taxes	2,069	4,884	17,631	18,369
Income tax provision (Note 9)	38	163	2,429	674
Net earnings	$2,031	$4,721	$15,202	$17,695
Earnings Per Share [Abstract]
Basic earnings per share (in dollars per share)	$0.10	$0.23	$0.73	$0.85
Weighted average common shares outstanding for basic EPS (in shares)	20,947	20,857	20,917	20,840
Diluted earnings per share (in dollars per share)	$0.10	$0.23	$0.72	$0.85
Diluted weighted average shares (in shares)	20,989	20,917	21,002	20,871
Dividends declared per share (in dollars per share)	$0.10	$0.10	$0.30	$0.30

Consolidated_Statements_of_Com

Consolidated Statements of Comprehensive Earnings (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Nov. 30, 2014	Dec. 01, 2013	Nov. 30, 2014	Dec. 01, 2013
Net earnings	$2,031	$4,721	$15,202	$17,695
Other comprehensive earnings (loss), net of tax:
Foreign currency translation	-77	9	-153	210
Unrealized gains on marketable securities:
Other comprehensive earnings (loss)	-3	245	-60	405
Total comprehensive earnings	2,028	4,966	15,142	18,100
Gains on Marketable Securities [Member]
Unrealized gains on marketable securities:
Unrealized holding gains (losses) arising during the period	84	176	116	153
Less: reclassification adjustment for gains included in net earnings	-8		-13
Losses on Marketable Securities [Member]
Unrealized gains on marketable securities:
Unrealized holding gains (losses) arising during the period	-7		-16	-62
Less: reclassification adjustment for gains included in net earnings	$5	$60	$6	$104

Condensed_Consolidated_Stateme

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Nov. 30, 2014		Dec. 01, 2013
Cash flows from operating activities:
Net earnings	$15,202		$17,695
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	2,653		2,975
Stock-based compensation	912		787
Benefit for deferred income taxes	-1,900
Amortization of bond premium	658		886
Changes in operating assets and liabilities	3,436		332
Net cash provided by operating activities	20,961		22,675
Cash flows from investing activities:
Purchase of property, plant and equipment	-381		-773
Purchases of marketable securities	-75,979		-198,485
Proceeds from sales and maturities of marketable securities	77,619		124,417
Net cash provided by (used in) investing activities	1,259		-74,841
Cash flows from financing activities:
Dividends paid	-6,274		-6,252
Proceeds from exercise of stock options	1,609		987
Tax benefits from stock-based compensation	38
Purchase of treasury stock	-172
Net cash used in financing activities	-4,799		-5,265
Change in cash and cash equivalents before effect of exchange rate changes	17,421		-57,431
Effect of exchange rate changes on cash and cash equivalents	-315		-7
Change in cash and cash equivalents	17,106		-57,438
Cash and cash equivalents, beginning of period	133,150	[1]	186,117
Cash and cash equivalents, end of period	150,256		128,679
Supplemental cash flow information:
Cash paid during the period for income taxes, net of refunds	3,779		4,465
Cash paid during the period for interest	$924		$486
[1]	The balance sheet at March 2, 2014 has been derived from the audited financial statements at that date.

Note_1_Consolidated_Financial_

Note 1 - Consolidated Financial Statements	9 Months Ended
	Nov. 30, 2014
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]		1	CONSOLIDATED FINANCIAL STATEMENTS
	The condensed consolidated balance sheet as of November 30, 2014, the consolidated statements of operations and the consolidated statements of comprehensive earnings for the 13 weeks and 39 weeks ended November 30, 2014 and December 1, 2013, and the condensed consolidated statements of cash flows for the 39 weeks then ended have been prepared by Park Electrochemical Corp. (the “Company”), without audit. In the opinion of management, these unaudited consolidated financial statements contain all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position at November 30, 2014 and the results of operations and cash flows for all periods presented. The consolidated statements of operations are not necessarily indicative of the results to be expected for the full fiscal year or any subsequent interim period.
	Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended March 2, 2014. There have been no significant changes to the Company’s accounting policies during the 39 weeks ended November 30, 2014.

Note_2_Fair_Value_Measurements

Note 2 - Fair Value Measurements	9 Months Ended
	Nov. 30, 2014
Notes to Financial Statements
Fair Value Disclosures [Text Block]		2	FAIR VALUE MEASUREMENTS
		.
	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date.
	Fair value measurements are broken down into three levels based on the reliability of inputs as follows:
	Level 1 inputs are quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. An active market for the asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.
	Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets or liabilities in active markets, inputs other than quoted prices that are observable for the asset or liability (e.g., interest rates and yield curves observable at commonly quoted intervals or current market) and contractual prices for the underlying financial instrument, as well as other relevant economic measures.
	Level 3 inputs are unobservable inputs for the asset or liability. Unobservable inputs are used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date.
	The fair value of the Company’s cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities approximate their carrying value due to their short-term nature. Due to the variable interest rates periodically adjusting with the current LIBOR, the carrying value of outstanding borrowings under the Company’s long-term debt approximates its fair value. (See Note 5). Certain assets and liabilities of the Company are required to be recorded at fair value on either a recurring or non-recurring basis. On a recurring basis, the Company records its marketable securities at fair value using Level 1 or Level 2 inputs. (See Note 3).
	The Company’s non-financial assets measured at fair value on a non-recurring basis include goodwill and any assets and liabilities acquired in a business combination at acquisition date or any long-lived assets written down to fair value. The Company tests for impairment of such assets whenever events or changes in circumstances indicate that the carrying value may not be recoverable. To measure fair value of such assets, the Company uses Level 3 inputs consisting of techniques including an income approach and a market approach. The income approach is based on a discounted cash flow analysis and calculates the fair value by estimating the after-tax cash flows attributable to a reporting unit and then discounting the after-tax cash flows to a present value using a risk-adjusted discount rate. Assumptions used in the discounted cash flow analysis require the exercise of significant judgment, including judgment about appropriate discount rates and terminal value, growth rates and the amount and timing of expected future cash flows. With respect to goodwill, the Company first assesses qualitative factors to determine whether it is more likely than not that the fair value is less than its carrying value. If, based on that assessment, the Company believes it is more likely than not that the fair value is less than its carrying value, a two-step goodwill impairment test is performed. There have been no changes in events or circumstances which required impairment charges to be recorded during the 39 weeks ended November 30, 2014.

Note_3_Marketable_Securities

Note 3 - Marketable Securities	9 Months Ended
	Nov. 30, 2014
Notes to Financial Statements
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]		3	MARKETABLE SECURITIES
		.
	All marketable securities are classified as available-for-sale and are carried at fair value, with the unrealized gains and losses, net of tax, included in comprehensive earnings. Realized gains and losses, amortization of premiums and discounts, and interest and dividend income are included in interest income in the Consolidated Statements of Operations. The costs of securities sold are based on the specific identification method.
	The following is a summary of available-for-sale securities:
			30-Nov-14
			Total		Level 1		Level 2		Level 3
	U.S. Treasury and other		$	114,742	$	114,742	$	-	$	-
	government securities
	U.S. corporate debt securities			20,309		6,290		14,019		-
	Total marketable securities		$	135,051	$	121,032	$	14,019	$	-
			2-Mar-14
			Total		Level 1		Level 2		Level 3
	U.S. Treasury and other		$	112,793	$	112,793	$	-	$	-
	government securities
	U.S. corporate debt securities			24,413		17,329		7,084		-
	Total marketable securities		$	137,206	$	130,122	$	7,084	$	-
	At November 30, 2014 and March 2, 2014, the Company’s level 2 investments consisted of commercial paper which was not traded on a regular basis or in an active market, and the Company was unable to obtain pricing information on an ongoing basis. Therefore, these investments were measured using quoted market prices for similar assets currently trading in an active market or using model-derived valuations in which all significant inputs are observable for substantially the full term of the asset.
	The following tables show the amortized cost basis of, and gross unrealized gains and losses and gross realized gains and losses on, the Company’s available-for-sale securities:
			Amortized Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses
	November 30, 2014:
	U.S. Treasury and other		$	114,386	$	363	$	7
	government securities
	U.S. corporate debt securities			20,311		8		10
	Total marketable securities		$	134,697	$	371	$	17
	March 2, 2014:
	U.S. Treasury and other		$	112,593	$	200	$	-
	government securities
	U.S. corporate debt securities			24,401		13		1
	Total marketable securities		$	136,994	$	213	$	1
			13 Weeks Ended				39 Weeks Ended
			November 30,		December 1,		November 30,		December 1,
			2014		2013		2014		2013
	Gross realized gains on sale		$	5	$	12	$	5	$	23
	Gross realized losses on sale		$	-	$	324	$	-	$	485
	The estimated fair values of such securities at November 30, 2014, by contractual maturity, are shown below:
	Due in one year or less		$	70,779
	Due after one year through five years			64,272
			$	135,051

Note_4_Inventories

Note 4 - Inventories	9 Months Ended
	Nov. 30, 2014
Notes to Financial Statements
Inventory Disclosure [Text Block]		4	INVENTORIES
		.
	Inventories are stated at the lower of cost (first-in, first-out method) or market. Inventories consisted of the following:
			November 30,		March 2,
			2014		2014
	Inventories:
	Raw materials		$	7,434	$	7,253
	Work-in-process			2,788		3,097
	Finished goods			3,637		3,223
	Manufacturing supplies			338		298
			$	14,197	$	13,871

Note_5_LongTerm_Debt

Note 5 - Long-Term Debt	9 Months Ended
	Nov. 30, 2014
Notes to Financial Statements
Debt Disclosure [Text Block]		5	LONG-TERM DEBT
		.
	On January 30, 2013, the Company entered into a five-year revolving credit facility agreement (the “Credit Agreement”) with PNC Bank, National Association (“PNC Bank”). The Credit Agreement provided for loans up to $52,000 (the “Facility”) to the Company and letters of credit up to $2,000 for the account of the Company. The Company borrowed $52,000 to finance a special dividend paid to shareholders of the Company in the 2013 fiscal year fourth quarter.
	On February 12, 2014, the Company entered into a four-year amended and restated revolving credit facility agreement (the “Amended Credit Agreement”) with PNC Bank. The Amended Credit Agreement provides for loans up to $104,000 (the “Amended Facility”) to the Company and letters of credit up to $2,000 for the account of the Company. Through November 30, 2014, the Company has borrowed $52,000 to finance a special dividend paid to shareholders of the Company in the 2014 fiscal year fourth quarter and an additional $52,000 to continue the loan that was provided under the Credit Agreement, and PNC Bank has issued two standby letters of credit for the account of the Company in the total amount of $1,100 to secure the Company’s obligations under its workers’ compensation insurance program. The $104,000 outstanding borrowing under the Amended Credit Agreement is payable as follows: $10,000 due on February 12, 2015 followed by four quarterly installments of $2,500 and then eight quarterly installments of $3,750 with the remaining amount outstanding under the Amended Credit Agreement payable on February 12, 2018 and excludes a pre-payment penalty.
	Borrowings under the Amended Facility bear interest at a rate equal to, at the Company’s option, either a (a) LIBOR rate option determined by a fluctuating rate per annum equal to the LIBOR Rate plus 1.10% or (b) base rate option determined by a fluctuating rate per annum equal to the highest of (i) the Federal Funds Open Rate (as defined in the Amended Credit Agreement) plus 0.5%, (ii) the Prime Rate (as defined in the Amended Credit Agreement), and (iii) the Daily LIBOR Rate (as defined in the Amended Credit Agreement) plus 1.0%. Under the Amended Credit Agreement, the Company also is obligated to pay a nonrefundable commitment fee, accruing from February 12, 2014 until the earlier of February 12, 2018 and the date on which the Amended Credit Agreement is terminated, equal to 0.20% per annum multiplied by the average daily difference between the amount of (a) the revolving credit commitment and (b) the revolving facility usage, payable quarterly in arrears.
	The Amended Credit Agreement also contains certain customary affirmative and negative covenants and customary financial covenants that require the Company to (a) maintain a minimum fixed charge coverage ratio of 1.10 to 1.00 at the end of each fiscal quarter and (b) not exceed a maximum funded debt ratio, which decreases periodically, of (i) 3.75 to 1.00 through February 28, 2015, (ii) 3.50 to 1.00 for the period March 1, 2015 through February 27, 2016, (iii) 3.00 to 1.00 for the period February 28, 2016 through February 25, 2017, and (iv) 2.25 to 1.00 for all periods thereafter. In addition, the Company must maintain minimum domestic liquid assets of $25,000 in cash and marketable securities and a quick ratio (as defined in the Amended Credit Agreement). On July 10, 2014, the Company and PNC Bank entered into an Amendment to the Amended Credit Agreement that modified the quick ratio, which, as modified, ranges from 8.50 to 1.00 to 8.00 to 1.00 through November 27, 2016 and is 3.25 to 1.00 for all periods thereafter. As of November 30, 2014, the Company was in compliance with all the covenants in the Amended Credit Agreement. The dividend covenant permits the Company to pay regular quarterly dividends in amounts not exceeding $0.10 per share and an annual special dividend to shareholders in amounts ranging from $1.00 to $2.50 with prior written notification to PNC Bank. The Company’s obligations under the Amended Credit Agreement are guaranteed by its Nelco Products, Inc., Neltec, Inc. and Park Aerospace Technologies Corp. subsidiaries and secured by a pledge of 65% of the capital stock of the Company’s Nelco Products Pte. Ltd. subsidiary in Singapore. The minimum domestic liquid assets of $25,000 are reflected as restricted cash on the Condensed Consolidated Balance Sheets.
	The Amended Facility is available to (a) refinance the Credit Agreement, (b) support working capital and general corporate needs, including the issuance of letters of credit, (c) fund special distributions to the Company’s shareholders permitted under the Amended Facility, and (d) finance ongoing capital expenditures and acquisitions. At November 30, 2014, $104,000 of indebtedness was outstanding under the Amended Credit Agreement with an interest rate of 1.31%. Interest expense recorded under the Facility and Amended Facility was approximately $361 and $1,074 during the 13 weeks and 39 weeks, respectively, ended November 30, 2014 and approximately $187 and $543 during the 13 weeks and 39 weeks, respectively, ended December 1, 2013, which is included in interest expense on the Consolidated Statements of Operations.

Note_6_Restructuring_Charges

Note 6 - Restructuring Charges	9 Months Ended
	Nov. 30, 2014
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]		6	RESTRUCTURING CHARGES
		.
	During the 2013 fiscal year, the Company recorded restructuring charges of $2,730 related to the closure of the Company’s Nelco Technology (Zhuhai FTZ) Ltd. business unit located in Zhuhai, China. The charges included a non-cash asset impairment charge of $3,620 related to property, plant and equipment and were net of the recapture of a non-cash cumulative currency translation adjustment of $1,465. The reclassification of the non-cash cumulative currency translation adjustment was included in foreign currency translation changes in the Consolidated Statements of Comprehensive Earnings. The Company has a building with a carrying value of $2,029 as of November 30, 2014, which is held for sale at its Nelco Technology (Zhuhai FTZ) Ltd. business unit. The Company ceased depreciating this building during the 2013 fiscal year second quarter and expects to sell the building in the 2015 fiscal year. During the 13 weeks and 39 weeks ended November 30, 2014, the Company recorded $35 and $166, respectively, of additional pre-tax charges related to such closure and expects to record no significant additional charges in connection with such closure.
	The Company recorded additional restructuring charges of $126 and $346, respectively, during the 13 weeks and 39 weeks ended November 30, 2014 related to the closure of the Company’s New England Laminates Co., Inc. business unit located in Newburgh, New York. The New England Laminates Co., Inc. building in Newburgh, New York is held for sale. In the 2004 fiscal year, the Company reduced the book value of the building to zero, and the Company intends to sell it during the 2015 or 2016 fiscal years.
	During the 13 weeks ended November 30, 2014, the Company recorded a $496 charge in connection with cost reduction initiatives in the United States. Approximately $230 of such benefits was settled prior to November 30, 2014 and the remaining balance of $266 is expected to be paid through December 2015.

Note_7_Earnings_Per_Share

Note 7 - Earnings Per Share	9 Months Ended
	Nov. 30, 2014
Notes to Financial Statements
Earnings Per Share [Text Block]		7	EARNINGS PER SHARE
		.
	Basic earnings per share are computed by dividing net earnings by the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share are computed by dividing net earnings by the sum of (a) the weighted average number of shares of common stock outstanding during the period and (b) the potentially dilutive securities outstanding during the period. Stock options are the only potentially dilutive securities; and the number of dilutive options is computed using the treasury stock method.
	The following table sets forth the calculation of basic and diluted earnings per share:
			13 Weeks Ended				39 Weeks Ended
			November 30,		December 1,		November 30,		December 1,
			2014		2013		2014		2013
	Net earnings		$	2,031	$	4,721	$	15,202	$	17,695
	Weighted average common shares outstanding for basic EPS			20,947		20,857		20,917		20,840
	Net effect of dilutive options			42		60		85		31
	Weighted average shares			20,989		20,917		21,002		20,871
	outstanding for diluted EPS
	Basic earnings per share		$	0.1	$	0.23	$	0.73	$	0.85
	Diluted earnings per share		$	0.1	$	0.23	$	0.72	$	0.85
	Potentially dilutive securities, which were not included in the computation of diluted earnings per share because either the effect would have been anti-dilutive or the options’ exercise prices were greater than the average market price of the common stock, were approximately 315 and 139 for the 13 weeks ended November 30, 2014 and December 1, 2013, respectively, and 122 and 375 for the 39 weeks ended November 30, 2014 and December 1, 2013, respectively.

Note_8_Shareholders_Equity

Note 8 - Shareholders' Equity	9 Months Ended
	Nov. 30, 2014
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]		8	SHAREHOLDERS’ EQUITY
		.
	During the 39 weeks ended November 30, 2014, the Company issued 75 shares pursuant to the exercises of stock options and received proceeds from such exercises, recognized stock-based compensation expense and recognized tax benefits from stock-based compensation of $1,602, $912 and $38, respectively. These transactions resulted in a $2,552 increase in additional paid-in capital during the period.
	The Company announced on October 18, 2012 that its Board of Directors had authorized the Company’s purchase, on the open market and in privately negotiated transactions, of up to 1,000 shares of its common stock.
	Between October 18, 2012 and November 25, 2012, the Company purchased 4 shares pursuant to such authorization at an aggregate purchase price of $93; and during the 13 weeks ended November 30, 2014, the Company purchased an additional 8 shares pursuant to such authorization at an aggregate purchase price of $172.
	The Company announced on January 8, 2015 that its Board of Directors has authorized the Company’s purchase, on the open market and in privately negotiated transactions, of up to 1,250 shares of its common stock, representing approximately 6% of the Company’s 20,946 total outstanding shares as of the close of business on January 7, 2015. This authorization supersedes all prior Board of Directors’ authorizations to purchase shares of the Company’s common stock.

Note_9_Income_Taxes

Note 9 - Income Taxes	9 Months Ended
	Nov. 30, 2014
Notes to Financial Statements
Income Tax Disclosure [Text Block]		9	INCOME TAXES
		.
	The Company’s effective tax rates for the 13 weeks and 39 weeks ended November 30, 2014 were 1.8% and 13.8%, respectively, compared to 3.3% and 3.7%, respectively, for the 13 weeks and 39 weeks ended December 1, 2013. The effective rates varied from the U.S. Federal statutory rate primarily due to the varying amounts of taxable earnings in jurisdictions with varying income tax rates and a tax refund described below.
	The effective tax rate for the 13 weeks ended November 30, 2014 was lower than the effective tax rate for the 39 weeks ended November 30, 2014 primarily as a result of discrete tax adjustments recorded in the 13 weeks ended November 30, 2014 related to restructuring charges.
	During the 2011 and 2012 fiscal years, the Company filed amended tax returns for the 2004, 2005, 2006 and 2007 fiscal years with the Internal Revenue Service (“IRS”) to claim a refund of taxes paid. The Company evaluated the tax position related to the claim for refund at June 2, 2013 and concluded that the tax position did not meet the more-likely-than-not recognition threshold. During the 13 weeks ended September 1, 2013, the IRS notified the Company that it had completed its examination and approved a portion of the Company’s refund claim in the amount of $1,949 plus interest. As a result, the Company reduced its total amount of unrecognized tax benefits reported at March 3, 2013 by $2,715. The Company recognized a tax benefit of $1,949 while no tax benefit was recognized for the remaining reduction in unrecognized tax benefits. The Company recorded a receivable for the net refund of $2,181, which was received subsequent to the period ended September 1, 2013. The unrecognized tax benefits recognized and interest received affected the effective tax rate and was recorded as a discrete tax benefit during the 13 weeks ended September 1, 2013.
	The Company continuously evaluates the liquidity and capital requirements of its operations in the United States and of its foreign subsidiaries.

Note_10_Geographic_Regions

Note 10 - Geographic Regions	9 Months Ended
	Nov. 30, 2014
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]		10	GEOGRAPHIC REGIONS
		.
	The Company is a global advanced materials company which develops, manufactures, markets and sells high technology digital and RF/microwave printed circuit materials principally for the telecommunications and internet infrastructure and high-end computing markets and advanced composite materials, parts and assemblies and low volume tooling for the aerospace markets. The Company’s products are sold to customers in North America, Asia and Europe. The Company’s manufacturing facilities are located in Singapore, France, Kansas, Arizona and California. The Company operates as a single operating segment, which is advanced materials for the electronics and aerospace markets, with common management and identical or very similar economic characteristics, products, raw materials, manufacturing processes and equipment, customers and markets, marketing, sales and distribution methods and regulatory environments. The chief operating decision maker reviews financial information on a consolidated basis.
	Sales are attributed to geographic region based upon the region in which the materials were delivered to the customer. Sales between geographic regions were not significant.
	Financial information regarding the Company’s operations by geographic region is as follows:
			13 Weeks Ended				39 Weeks Ended
			November 30,		December 1,		November 30,		December 1,
			2014		2013		2014		2013
	Sales:
	North America		$	17,357	$	20,196	$	57,941	$	63,814
	Asia			14,251		17,135		59,150		54,809
	Europe			3,071		2,347		8,754		8,990
	Total sales		$	34,679	$	39,678	$	125,845	$	127,613
			November 30,		March 2,
			2014		2014
	Long-lived assets:
	North America			27,118		26,899
	Asia			12,757		13,557
	Europe			353		397
	Total long-lived assets		$	40,228	$	40,853

Note_11_Contingencies

Note 11 - Contingencies	9 Months Ended
	Nov. 30, 2014
Notes to Financial Statements
Contingencies Disclosure [Text Block]		11	CONTINGENCIES
		.
	Litigation
	The Company is subject to a number of proceedings, lawsuits and other claims related to environmental, employment, product and other matters. The Company is required to assess the likelihood of any adverse judgments or outcomes in these matters as well as potential ranges of probable losses. A determination of the amount of reserves required, if any, for these contingencies is made after careful analysis of each individual issue. The required reserves may change in the future due to new developments in each matter or changes in approach, such as a change in settlement strategy in dealing with these matters. The Company believes that the ultimate disposition of such proceedings, lawsuits and claims will not have a material adverse effect on the Company’s liquidity, capital resources or business or its consolidated results of operations, cash flows or financial position.
	Environmental Contingencies
	The Company and certain of its subsidiaries have been named by the Environmental Protection Agency (the "EPA") or a comparable state agency under the Comprehensive Environmental Response, Compensation and Liability Act (the "Superfund Act") or similar state law as potentially responsible parties in connection with alleged releases of hazardous substances at four sites.
	Under the Superfund Act and similar state laws, all parties who may have contributed any waste to a hazardous waste disposal site or contaminated area identified by the EPA or comparable state agency may be jointly and severally liable for the cost of cleanup. Generally, these sites are locations at which numerous persons disposed of hazardous waste. In the case of the Company's subsidiaries, generally the waste was removed from their manufacturing facilities and disposed at waste sites by various companies which contracted with the subsidiaries to provide waste disposal services. Neither the Company nor any of its subsidiaries have been accused of or charged with any wrongdoing or illegal acts in connection with any such sites. The Company believes it maintains an effective and comprehensive environmental compliance program.
	The insurance carriers who provided general liability insurance coverage to the Company and its subsidiaries for the years during which the Company's subsidiaries' waste was disposed at these sites have in the past reimbursed the Company and its subsidiaries for 100% of their legal defense and remediation costs associated with three of these sites.
	The total costs incurred by the Company and its subsidiaries in connection with these sites, including legal fees incurred by the Company and its subsidiaries and their assessed share of remediation costs and excluding amounts paid or reimbursed by insurance carriers, were approximately $1 and $25 in the 13 weeks and 39 weeks, respectively, ended November 30, 2014 and were approximately $1 and $20 in the 13 weeks and 39 weeks, respectively, ended December 1, 2013. The Company had no recorded liabilities for environmental matters at November 30, 2014 or March 2, 2014.
	The Company does not record environmental liabilities and related legal expenses for which the Company believes that it and its subsidiaries have general liability insurance coverage for the years during which the Company's subsidiaries' waste was disposed at three sites for which certain subsidiaries of the Company have been named as potentially responsible parties. Pursuant to such general liability insurance coverage, two insurance carriers had been paying 100% of the legal defense and remediation costs associated with such three sites since 1985. In the 2012 fiscal year fourth quarter, one of such insurance carriers, which had been paying 45% of such legal defense and remediation costs, indicated that it no longer agreed to such percentage. As a result, the Company commenced litigation against such insurance carriers and a third insurance carrier. The three insurance carriers and the Company have settled this matter; and pursuant to the settlement agreement, the three insurance carriers will pay 100% of the Company’s legal defense and remediation costs associated with such three sites.
	Included in selling, general and administrative expenses are charges for actual expenditures and accruals, based on estimates, for certain environmental matters described above. The Company accrues estimated costs associated with known environmental matters, when such costs can be reasonably estimated and when the outcome appears probable. The Company believes that the ultimate disposition of known environmental matters, including the litigation described above, will not have a material adverse effect on the Company’s liquidity, capital resources or business or its consolidated results of operations, cash flows or financial position.

Note_12_Accounting_Pronounceme

Note 12 - Accounting Pronouncements	9 Months Ended
	Nov. 30, 2014
Notes to Financial Statements
New Accounting Pronouncements and Changes in Accounting Principles [Text Block]		12	ACCOUNTING PRONOUNCEMENTS
		.
	Recently Adopted
	In March 2013, the FASB issued authoritative guidance which states that when a parent sells an investment in a foreign entity and ceases to have a controlling interest in that foreign entity, or when a foreign subsidiary disposes of substantially all of its assets, or when a parent acquires control of a foreign entity in which the parent held an equity interest before the acquisition date, the cumulative translation adjustment should be released into net earnings. The Company adopted this guidance effective March 3, 2014, the first day of the Company’s 2015 fiscal year, and the adoption of this guidance did not impact the Company’s consolidated results of operations, cash flows or financial position.
	Recently Issued
	In May 2014, the FASB issued authoritative guidance on the recognition of revenue from customers. This guidance clarifies when an entity will recognize revenue when it transfers promised goods or services to customers in an amount that reflects what it expects in exchange for the goods or services. This guidance also requires more detailed disclosures to enable users of the financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. This guidance is effective for fiscal years (and interim reporting periods within fiscal years) beginning after December 15, 2016. The Company is currently evaluating the impact this guidance will have on its consolidated results of operations, cash flows, financial position and disclosures and is currently unable to estimate the impact of this guidance.

Note_3_Marketable_Securities_T

Note 3 - Marketable Securities (Tables)	9 Months Ended
	Nov. 30, 2014
Notes Tables
Schedule of Fair Value of Separate Accounts by Major Category of Investment [Table Text Block]		30-Nov-14
		Total		Level 1		Level 2		Level 3
	U.S. Treasury and other	$	114,742	$	114,742	$	-	$	-
	government securities
	U.S. corporate debt securities		20,309		6,290		14,019		-
	Total marketable securities	$	135,051	$	121,032	$	14,019	$	-
		2-Mar-14
		Total		Level 1		Level 2		Level 3
	U.S. Treasury and other	$	112,793	$	112,793	$	-	$	-
	government securities
	U.S. corporate debt securities		24,413		17,329		7,084		-
	Total marketable securities	$	137,206	$	130,122	$	7,084	$	-
Schedule of Unrealized Loss on Investments [Table Text Block]		Amortized Cost Basis		Gross Unrealized Gains		Gross Unrealized Losses
	November 30, 2014:
	U.S. Treasury and other	$	114,386	$	363	$	7
	government securities
	U.S. corporate debt securities		20,311		8		10
	Total marketable securities	$	134,697	$	371	$	17
	March 2, 2014:
	U.S. Treasury and other	$	112,593	$	200	$	-
	government securities
	U.S. corporate debt securities		24,401		13		1
	Total marketable securities	$	136,994	$	213	$	1
Realized Gain (Loss) on Investments [Table Text Block]		13 Weeks Ended				39 Weeks Ended
		November 30,		December 1,		November 30,		December 1,
		2014		2013		2014		2013
	Gross realized gains on sale	$	5	$	12	$	5	$	23
	Gross realized losses on sale	$	-	$	324	$	-	$	485
Investments Classified by Contractual Maturity Date [Table Text Block]	Due in one year or less	$	70,779
	Due after one year through five years		64,272
		$	135,051

Note_4_Inventories_Tables

Note 4 - Inventories (Tables)	9 Months Ended
	Nov. 30, 2014
Notes Tables
Schedule of Inventory, Current [Table Text Block]		November 30,		March 2,
		2014		2014
	Inventories:
	Raw materials	$	7,434	$	7,253
	Work-in-process		2,788		3,097
	Finished goods		3,637		3,223
	Manufacturing supplies		338		298
		$	14,197	$	13,871

Note_7_Earnings_Per_Share_Tabl

Note 7 - Earnings Per Share (Tables)	9 Months Ended
	Nov. 30, 2014
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]		13 Weeks Ended				39 Weeks Ended
		November 30,		December 1,		November 30,		December 1,
		2014		2013		2014		2013
	Net earnings	$	2,031	$	4,721	$	15,202	$	17,695
	Weighted average common shares outstanding for basic EPS		20,947		20,857		20,917		20,840
	Net effect of dilutive options		42		60		85		31
	Weighted average shares		20,989		20,917		21,002		20,871
	outstanding for diluted EPS
	Basic earnings per share	$	0.1	$	0.23	$	0.73	$	0.85
	Diluted earnings per share	$	0.1	$	0.23	$	0.72	$	0.85

Note_10_Geographic_Regions_Tab

Note 10 - Geographic Regions (Tables)	9 Months Ended
	Nov. 30, 2014
Notes Tables
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block]		13 Weeks Ended				39 Weeks Ended
		November 30,		December 1,		November 30,		December 1,
		2014		2013		2014		2013
	Sales:
	North America	$	17,357	$	20,196	$	57,941	$	63,814
	Asia		14,251		17,135		59,150		54,809
	Europe		3,071		2,347		8,754		8,990
	Total sales	$	34,679	$	39,678	$	125,845	$	127,613
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]		November 30,		March 2,
		2014		2014
	Long-lived assets:
	North America		27,118		26,899
	Asia		12,757		13,557
	Europe		353		397
	Total long-lived assets	$	40,228	$	40,853

Note_3_Marketable_Securities_S

Note 3 - Marketable Securities - Summary of Available-for-Sale Securities (Details) (USD $)	Nov. 30, 2014	Mar. 02, 2014
In Thousands, unless otherwise specified
Marketable securities (Note 3)	$135,051	$137,206	[1]
Fair Value, Inputs, Level 1 [Member]
Marketable securities (Note 3)	121,032	130,122
Fair Value, Inputs, Level 2 [Member]
Marketable securities (Note 3)	14,019	7,084
Domestic Corporate Debt Securities [Member]
Marketable securities (Note 3)	20,309	24,413
Domestic Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Marketable securities (Note 3)	6,290	17,329
Domestic Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Marketable securities (Note 3)	14,019	7,084
US Treasury and Government [Member]
Marketable securities (Note 3)	114,742	112,793
US Treasury and Government [Member] | Fair Value, Inputs, Level 1 [Member]
Marketable securities (Note 3)	$114,742	$112,793
[1]	The balance sheet at March 2, 2014 has been derived from the audited financial statements at that date.

Note_3_Marketable_Securities_S1

Note 3 - Marketable Securities - Summary of Unrealized Gains/Losses on Available-for-Sale Securities (Details) (USD $)	Nov. 30, 2014	Mar. 02, 2014
In Thousands, unless otherwise specified
U.S. Treasury and other government securities	$134,697	$136,994
U.S. Treasury and other government securities	371	213
U.S. Treasury and other government securities	17	1
Domestic Corporate Debt Securities [Member]
U.S. Treasury and other government securities	20,311	24,401
U.S. Treasury and other government securities	8	13
U.S. Treasury and other government securities	10	1
US Treasury and Government [Member]
U.S. Treasury and other government securities	114,386	112,593
U.S. Treasury and other government securities	363	200
U.S. Treasury and other government securities	$7

Note_3_Marketable_Securities_S2

Note 3 - Marketable Securities - Summary of Realized Gains/Losses on Available-for-Sale Securities (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Nov. 30, 2014	Dec. 01, 2013	Nov. 30, 2014	Dec. 01, 2013
Gross realized gains on sale	$5	$12	$5	$23
Gross realized losses on sale		$324		$485

Note_3_Marketable_Securities_E

Note 3 - Marketable Securities - Estimated Fair Value of Securities by Contractual Maturity (Details) (USD $)	Nov. 30, 2014
In Thousands, unless otherwise specified
Due in one year or less	$70,779
Due after one year through five years	64,272
	$135,051

Note_4_Inventories_Inventories

Note 4 - Inventories - Inventories (Details) (USD $)	Nov. 30, 2014	Mar. 02, 2014
In Thousands, unless otherwise specified
Inventories:
Raw materials	$7,434	$7,253
Work-in-process	2,788	3,097
Finished goods	3,637	3,223
Manufacturing supplies	338	298
	$14,197	$13,871	[1]
[1]	The balance sheet at March 2, 2014 has been derived from the audited financial statements at that date.

Note_5_LongTerm_Debt_Details_T

Note 5 - Long-Term Debt (Details Textual) (USD $)	3 Months Ended		9 Months Ended			0 Months Ended	1 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Nov. 30, 2014	Dec. 01, 2013	Nov. 30, 2014	Dec. 01, 2013	Nov. 30, 2014	Feb. 12, 2014	Jan. 30, 2013	Mar. 02, 2014
Debt Disclosure [Abstract]
Long-term Line of Credit	$104,000		$104,000		$104,000
Long-term Debt	104,000		104,000		104,000
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months	10,000		10,000		10,000
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage					0.20%
Minimum Interest Coverage Ratio	1.1		1.1		1.1
Restricted Cash and Cash Equivalents, Noncurrent	25,000		25,000		25,000			25,000	[1]
Line of Credit Facility, Interest Rate at Period End	1.31%		1.31%		1.31%
Interest Expense	361	187	1,074	543
All Periods Thereafter [Member]
Debt Disclosure [Abstract]
Maximum Funded Debt Ratio	2.25		2.25		2.25
Quick Ratio	3.25		3.25		3.25
February 28 2016 Through February 25 2017 Member
Debt Disclosure [Abstract]
Maximum Funded Debt Ratio	3		3		3
March 1 2015 Through February 27 2016 Member
Debt Disclosure [Abstract]
Maximum Funded Debt Ratio	3.5		3.5		3.5
Through February 28 2015 [Member]
Debt Disclosure [Abstract]
Maximum Funded Debt Ratio	3.75		3.75		3.75
Maximum [Member]
Debt Disclosure [Abstract]
Dividend Covenant, Maximum Quarterly Dividend			$0.10
Maximum [Member] | Special Dividend [Member]
Debt Disclosure [Abstract]
Dividend Covenant, Maximum Quarterly Dividend			$2.50
Maximum [Member] | Through November 27 2016 [Member]
Debt Disclosure [Abstract]
Quick Ratio	8.5		8.5		8.5
Minimum [Member]
Debt Disclosure [Abstract]
Restricted Cash and Cash Equivalents, Noncurrent	25,000		25,000		25,000
Minimum [Member] | Special Dividend [Member]
Debt Disclosure [Abstract]
Dividend Covenant, Maximum Quarterly Dividend			$1
Minimum [Member] | Through November 27 2016 [Member]
Debt Disclosure [Abstract]
Quick Ratio	8		8		8
PNC Bank National Association [Member]
Debt Disclosure [Abstract]
Long-term Line of Credit	52,000		52,000		52,000
Line of Credit Facility, Expiration Period						4 years	5 years
Line of Credit Facility, Maximum Borrowing Capacity						104,000	52,000
Proceeds from Lines of Credit			52,000				52,000
PNC Bank National Association [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Disclosure [Abstract]
Debt Instrument, Basis Spread on Variable Rate					1.10%
PNC Bank National Association [Member] | Daily LIBOR Plus [Member]
Debt Disclosure [Abstract]
Debt Instrument, Basis Spread on Variable Rate					1.00%
PNC Bank National Association [Member] | Federal Funds Rate [Member]
Debt Disclosure [Abstract]
Debt Instrument, Basis Spread on Variable Rate					0.50%
PNC Bank National Association [Member] | Letter of Credit [Member]
Debt Disclosure [Abstract]
Long-term Line of Credit	1,100		1,100		1,100
Line of Credit Facility, Maximum Borrowing Capacity						2,000	2,000
Number of Standby Letter of Credit Issued			2
Nelco Products Pte Ltd [Member]
Debt Disclosure [Abstract]
Pledge of Stock Percentage as Guarantee for Credit Agreement			65.00%
Installment 1 [Member]
Debt Disclosure [Abstract]
Number of Quarterly Installments			4
Debt Instrument, Periodic Payment, Principal			2,500
Installment 2 [Member]
Debt Disclosure [Abstract]
Number of Quarterly Installments			8
Debt Instrument, Periodic Payment, Principal			$3,750
[1]	The balance sheet at March 2, 2014 has been derived from the audited financial statements at that date.

Note_6_Restructuring_Charges_D

Note 6 - Restructuring Charges (Details Textual) (USD $)	3 Months Ended	9 Months Ended		12 Months Ended
	Nov. 30, 2014	Nov. 30, 2014	Dec. 01, 2013	Mar. 03, 2013
Restructuring and Related Activities [Abstract]
Restructuring Charges	$636,000	$986,000	$319,000
Employee Severance [Member]
Restructuring and Related Activities [Abstract]
Restructuring and Related Cost, Incurred Cost	496,000
Payments for Restructuring	230,000
Restructuring Reserve	266,000	266,000
Nelco Technology Zhuhai FTZ Ltd [Member]
Restructuring and Related Activities [Abstract]
Business Exit Costs				2,730,000
Other Asset Impairment Charges				3,620,000
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, before Tax				1,465,000
Real Estate Held-for-sale	2,029,000	2,029,000
Restructuring Charges	35,000	166,000
New England Laminates Co Inc [Member]
Restructuring and Related Activities [Abstract]
Real Estate Held-for-sale	0	0
Restructuring Charges	$126,000	$346,000

Note_7_Earnings_Per_Share_Deta

Note 7 - Earnings Per Share (Details Textual)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Nov. 30, 2014	Dec. 01, 2013	Nov. 30, 2014	Dec. 01, 2013
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	315	139	122	375

Note_7_Earnings_Per_Share_Basi

Note 7 - Earnings Per Share - Basic and Diluted Earnings Per Share (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Nov. 30, 2014	Dec. 01, 2013	Nov. 30, 2014	Dec. 01, 2013
Net earnings	$2,031	$4,721	$15,202	$17,695
Weighted average common shares outstanding for basic EPS (in shares)	20,947	20,857	20,917	20,840
Net effect of dilutive options (in shares)	42	60	85	31
Weighted average shares outstanding for diluted EPS (in shares)	20,989	20,917	21,002	20,871
Basic earnings per share (in dollars per share)	$0.10	$0.23	$0.73	$0.85
Diluted earnings per share (in dollars per share)	$0.10	$0.23	$0.72	$0.85

Note_8_Shareholders_Equity_Det

Note 8 - Shareholders' Equity (Details Textual) (USD $)	1 Months Ended	3 Months Ended	9 Months Ended
In Thousands, unless otherwise specified	Nov. 25, 2012	Nov. 30, 2014	Nov. 30, 2014	Oct. 18, 2012	Jan. 07, 2015	Jan. 08, 2015
Stockholders' Equity Note [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period			75
Proceeds from Stock Options Exercised			$1,602
Allocated Share-based Compensation Expense			912
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense			38
Adjustments to Additional Paid in Capital, Share-based Compensation, Requisite Service Period Recognition			2,552
Stock Repurchase Program, Number of Shares Authorized to be Repurchased				1,000
Stock Repurchased During Period, Shares	4	8
Stock Repurchased and Retired During Period, Value	$93	$172
Subsequent Event [Member]
Stockholders' Equity Note [Abstract]
Stock Repurchase Program, Percentage of Outstanding Shares Authorized to be Repurchased					6.00%
Common Stock, Shares, Outstanding					20,946
Maximum [Member] | Subsequent Event [Member]
Stockholders' Equity Note [Abstract]
Stock Repurchase Program, Number of Shares Authorized to be Repurchased						1,250

Note_9_Income_Taxes_Details_Te

Note 9 - Income Taxes (Details Textual) (USD $)	0 Months Ended	3 Months Ended			9 Months Ended
	Mar. 03, 2013	Nov. 30, 2014	Dec. 01, 2013	Sep. 01, 2013	Nov. 30, 2014	Dec. 01, 2013
Income Tax Disclosure [Abstract]
Income Tax Expense (Benefit)		$38,000	$163,000		$2,429,000	$674,000
Effective Income Tax Rate Reconciliation, Percent		1.80%	3.30%		13.80%	3.70%
Tax Adjustments, Settlements, and Unusual Provisions				1,949,000
Unrecognized Tax Benefits, Decrease Resulting from Current Period Tax Positions	2,715,000
Income Tax Examination, Liability (Refund) Adjustment from Settlement with Taxing Authority				-2,181,000
Portion of Refund Claim [Member]
Income Tax Disclosure [Abstract]
Income Tax Expense (Benefit)	-1,949,000
Remaining Reduction [Member]
Income Tax Disclosure [Abstract]
Income Tax Expense (Benefit)	$0

Note_10_Geographic_Regions_Fin

Note 10 - Geographic Regions - Financial Information by Geographic Region, Sales (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Nov. 30, 2014	Dec. 01, 2013	Nov. 30, 2014	Dec. 01, 2013
Net sales	$34,679	$39,678	$125,845	$127,613
Asia [Member]
Net sales	14,251	17,135	59,150	54,809
Europe [Member]
Net sales	3,071	2,347	8,754	8,990
North America [Member]
Net sales	$17,357	$20,196	$57,941	$63,814

Note_10_Geographic_Regions_Fin1

Note 10 - Geographic Regions - Financial Information by Geographic Region, Assets (Details) (USD $)	Nov. 30, 2014	Mar. 02, 2014
In Thousands, unless otherwise specified
Long-lived assets	$40,228	$40,853
Asia [Member]
Long-lived assets	12,757	13,557
Europe [Member]
Long-lived assets	353	397
North America [Member]
Long-lived assets	$27,118	$26,899

Note_11_Contingencies_Details_

Note 11 - Contingencies (Details Textual) (USD $)	3 Months Ended			9 Months Ended
	Nov. 30, 2014	Dec. 01, 2013	Feb. 26, 2012	Nov. 30, 2014	Dec. 01, 2013	Mar. 02, 2014
Loss Contingency [Abstract]
Liability for Asbestos and Environmental Claims, Net	$0			$0		$0
Number of Sites of Company or Subsidiaries That Have Been Named for Potential Environmental Remediation Liability				4
Percentage of Legal Defense and Remediation Costs Associated with Sites Reimbursed by Insurance Carriers				100.00%
Number of Units Covered Under General Liability Insurance Coverage				3
Litigation Settlement, Expense	$1,000	$1,000		$25,000	$20,000
Number of Insurance Carriers				2
Number of Insurance Carriers That Have Filed Answers to Lawsuit			3
Insurance Carrier One [Member]
Loss Contingency [Abstract]
Percentage of Legal Defense and Remediation Costs Associated with Sites Reimbursed by Insurance Carriers			45.00%
Two Insurance Carriers [Member]
Loss Contingency [Abstract]
Percentage of Legal Defense and Remediation Costs Associated with Sites Reimbursed by Insurance Carriers				100.00%