Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Nov. 02, 2013 | Dec. 09, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 2-Nov-13 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Registrant Name | 'ASTRO MED INC /NEW/ | ' |
Entity Central Index Key | '0000008146 | ' |
Current Fiscal Year End Date | '--01-31 | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Common Stock, Shares Outstanding | ' | 7,512,803 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Nov. 02, 2013 | Jan. 31, 2013 |
In Thousands, unless otherwise specified | ||
CURRENT ASSETS | ' | ' |
Cash and Cash Equivalents | $12,974 | $30,999 |
Securities Available for Sale | 19,654 | 8,509 |
Accounts Receivable, net | 10,970 | 9,376 |
Inventories | 11,916 | 11,179 |
Deferred Tax Assets | 1,825 | 1,866 |
Line of Credit Receivable | 288 | 300 |
Note Receivable | 250 | 250 |
Restricted Cash | 1,800 | 1,800 |
Asset Held for Sale | 2,016 | 2,016 |
Prepaid Expenses and Other Current Assets | 1,682 | 696 |
Current Assets of Discontinued Operations | 5,208 | 3,131 |
Total Current Assets | 68,583 | 70,122 |
PROPERTY, PLANT AND EQUIPMENT | 34,768 | 33,886 |
Less Accumulated Depreciation | -27,045 | -26,098 |
Property, Plant and Equipment, net | 7,723 | 7,788 |
OTHER ASSETS | ' | ' |
Goodwill | 795 | 795 |
Note Receivable | 569 | 756 |
Other | 98 | 96 |
Total Other Assets | 1,462 | 1,647 |
TOTAL ASSETS | 77,768 | 79,557 |
CURRENT LIABILITIES | ' | ' |
Accounts Payable | 2,750 | 1,938 |
Accrued Compensation | 2,649 | 3,176 |
Other Accrued Expenses | 3,641 | 3,164 |
Deferred Revenue | 499 | 271 |
Income Taxes Payable | 21 | 4,169 |
Current Liabilities of Discontinued Operations | 2,139 | 1,501 |
Total Current Liabilities | 11,699 | 14,219 |
Deferred Tax Liabilities | 178 | 212 |
Other Long Term Liabilities | 1,336 | 1,289 |
TOTAL LIABILITIES | 13,213 | 15,720 |
SHAREHOLDERS' EQUITY | ' | ' |
Common Stock, $0.05 Par Value, Authorized 13,000,000 shares; Issued 9,228,305 shares and 9,031,756 shares at November 2, 2013 and January 31, 2013, respectively | 461 | 452 |
Additional Paid-in Capital | 40,429 | 38,786 |
Retained Earnings | 35,878 | 36,092 |
Treasury Stock, at Cost, 1,721,098 shares and 1,663,214 shares at November 2, 2013 and January 31, 2013, respectively | -12,348 | -11,666 |
Accumulated Other Comprehensive Income | 135 | 173 |
TOTAL SHAREHOLDERS' EQUITY | 64,555 | 63,837 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $77,768 | $79,557 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Nov. 02, 2013 | Jan. 31, 2013 |
Statement Of Financial Position [Abstract] | ' | ' |
Common Stock, Par Value | $0.05 | $0.05 |
Common Stock, Shares Authorized | 13,000,000 | 13,000,000 |
Common Stock, Shares Issued | 9,228,305 | 9,031,756 |
Treasury Stock, Shares | 1,721,098 | 1,663,214 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 |
Income Statement [Abstract] | ' | ' | ' | ' |
Net Sales | $18,179 | $16,039 | $50,858 | $45,038 |
Cost of Sales | 10,816 | 9,555 | 30,796 | 27,497 |
Product Replacement Related Costs | ' | ' | 672 | ' |
Gross Profit | 7,363 | 6,484 | 19,390 | 17,541 |
Operating Expenses: | ' | ' | ' | ' |
Selling and Marketing | 3,727 | 3,199 | 10,680 | 9,242 |
Research and Development | 1,230 | 897 | 3,617 | 2,766 |
General and Administrative | 1,223 | 1,187 | 3,745 | 3,339 |
Operating Expenses | 6,180 | 5,283 | 18,042 | 15,347 |
Operating Income | 1,183 | 1,201 | 1,348 | 2,194 |
Other Income (Expense), net | -2 | 47 | -64 | -56 |
Income from Continuing Operations before Income Taxes | 1,181 | 1,248 | 1,284 | 2,138 |
Income Tax Provision for Continuing Operations | 436 | 499 | 446 | 542 |
Income from Continuing Operations | 745 | 749 | 838 | 1,596 |
Income from Discontinued Operations, net of tax benefit of $89 and tax expense of $333, for the three and nine months ended November 2, 2013, respectively and tax benefit of $2 and tax expense of $928 for the three and nine months ended October 27, 2012, respectively | 363 | 558 | 517 | 1,535 |
Net Income | $1,108 | $1,307 | $1,355 | $3,131 |
Net Income per Common Share-Basic: | ' | ' | ' | ' |
From Continuing Operations | $0.10 | $0.10 | $0.11 | $0.22 |
From Discontinued Operations | $0.05 | $0.08 | $0.07 | $0.20 |
Net Income Per Common Share-Basic | $0.15 | $0.18 | $0.18 | $0.42 |
Net Income per Common Share-Diluted: | ' | ' | ' | ' |
From Continuing Operations | $0.10 | $0.10 | $0.11 | $0.21 |
From Discontinued Operations | $0.04 | $0.08 | $0.07 | $0.21 |
Net Income Per Common Share-Diluted | $0.14 | $0.18 | $0.18 | $0.42 |
Weighted Average Number of Common Shares Outstanding: | ' | ' | ' | ' |
Basic | 7,489,690 | 7,379,094 | 7,449,251 | 7,414,273 |
Diluted | 7,715,820 | 7,461,958 | 7,650,014 | 7,486,588 |
Dividends Declared Per Common Share | $0.07 | $0.07 | $0.21 | $0.21 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Operations (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 |
Income Statement [Abstract] | ' | ' | ' | ' |
Income tax expense (benefit) of discontinued operations | ($89) | ($2) | $333 | $928 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Comprehensive Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net Income | $1,108 | $1,307 | $1,355 | $3,131 |
Other Comprehensive Income (Loss), Net of Taxes and Reclassification Adjustments: | ' | ' | ' | ' |
Foreign Currency Translation Adjustments | 137 | 185 | -56 | -66 |
Unrealized Holding Gain (Loss) Arising During the Period | 14 | -2 | 18 | -9 |
Net Other Comprehensive Income (Loss) | 151 | 183 | -38 | -75 |
Comprehensive Income | $1,259 | $1,490 | $1,317 | $3,056 |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 |
Cash Flows from Operating Activities: | ' | ' |
Net Income | $1,355 | $3,131 |
Adjustments to Reconcile Net Income to Net Cash Provided (Used) by Operating Activities: | ' | ' |
Depreciation and Amortization | 951 | 993 |
Share-Based Compensation | 406 | 305 |
Deferred Income Tax Provision | 192 | 72 |
Changes in Assets and Liabilities: | ' | ' |
Accounts Receivable | -3,368 | -4 |
Inventories | -1,039 | -359 |
Income Taxes | -4,940 | 174 |
Accounts Payable and Accrued Expenses | 1,087 | -1,081 |
Other | 362 | -200 |
Net Cash Provided (Used) by Operating Activities | -4,994 | 3,031 |
Cash Flows from Investing Activities: | ' | ' |
Proceeds from Sales/Maturities of Securities Available for Sale | 7,940 | 14,965 |
Purchases of Securities Available for Sale | -19,056 | -11,816 |
Line of Credit Issuance | ' | -300 |
Additions to Property, Plant and Equipment | -910 | -527 |
Net Cash Provided (Used) by Investing Activities | -12,026 | 2,322 |
Cash Flows from Financing Activities: | ' | ' |
Proceeds from Common Shares Issued Under Employee Benefit Plans and Employee Stock Option Plans, Net of Payment of Minimum Tax Withholdings | 564 | 61 |
Purchase of Treasury Stock | ' | -770 |
Dividends Paid | -1,569 | -1,559 |
Net Cash Used in Financing Activities | -1,005 | -2,268 |
Net Increase (Decrease) in Cash and Cash Equivalents | -18,025 | 3,085 |
Cash and Cash Equivalents, Beginning of Period | 30,999 | 11,704 |
Cash and Cash Equivalents, End of Period | 12,974 | 14,789 |
Supplemental Disclosures of Cash Flow Information: | ' | ' |
Cash Paid During the Period for Income Taxes, Net of Refunds | $4,881 | $1,354 |
Overview
Overview | 9 Months Ended |
Nov. 02, 2013 | |
Accounting Policies [Abstract] | ' |
Overview | ' |
(1) Overview | |
Headquartered in West Warwick, Rhode Island, Astro-Med Inc. designs, develops, manufactures and distributes a broad range of specialty printers and data acquisition and analysis systems. Our products are distributed through our own sales force and authorized dealers in the United States. We also sell to customers outside of the United States primarily through our branch offices in Canada and Europe as well as with independent dealers and representatives. Astro-Med, Inc. products are sold under the brand names Astro-Med ® Test & Measurement and QuickLabel ® Systems and are employed around the world in a wide range of aerospace, automotive, communications, chemical, food and beverage, military, industrial, and packaging applications. | |
Unless otherwise indicated, references to “Astro-Med,” the “Company,” “we,” “our,” and “us” in this Quarterly Report on Form 10-Q refer to Astro-Med, Inc. and its consolidated subsidiaries. |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended |
Nov. 02, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation | ' |
(2) Basis of Presentation | |
The accompanying unaudited condensed consolidated financial statements have been prepared by Astro-Med pursuant to the rules and regulations of the Securities and Exchange Commission, and reflect all adjustments consisting of normal recurring adjustments which, in the opinion of management, are necessary for a fair presentation of the results of the interim periods included herein. These financial statements do not include all disclosures associated with annual financial statements and, accordingly, should be read in conjunction with footnotes contained in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2013. | |
On January 31, 2013, we completed the sale of substantially all of the assets of our Grass Technologies Product Group. Consequently, we have classified the results of operations of the Grass Technologies Product Group as discontinued operations for all periods presented. Refer to Note 14, “Discontinued Operations,” for further discussion. | |
Results of operations for the interim periods presented herein are not necessarily indicative of the results that may be expected for the full year. | |
The presentation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported and disclosed in the condensed consolidated financial statements and accompanying notes. Some of the more significant estimates relate to the allowances for doubtful accounts and credits, inventory valuation, impairment of long-lived assets and goodwill, income taxes, share-based compensation, accrued expenses and warranty reserves. Management’s estimates are based on the facts and circumstances available at the time estimates are made, past historical experience, risk of loss, general economic conditions and trends, and management’s assessments of the probable future outcome of these matters. Consequently, actual results could differ from those estimates. | |
Certain amounts in prior year’s financial statements have been reclassified to conform to the current year’s presentation. |
Principles_of_Consolidation
Principles of Consolidation | 9 Months Ended |
Nov. 02, 2013 | |
Accounting Policies [Abstract] | ' |
Principles of Consolidation | ' |
(3) Principles of Consolidation | |
The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions are eliminated in consolidation. |
Net_Income_Per_Common_Share
Net Income Per Common Share | 9 Months Ended | ||||||||||||||||
Nov. 02, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Net Income Per Common Share | ' | ||||||||||||||||
(4) Net Income Per Common Share | |||||||||||||||||
Basic net income per share is calculated by dividing net income by the weighted average number of shares outstanding during the period. Diluted net income per share is calculated by dividing net income by the weighted average number of shares and, if dilutive, common equivalent shares for stock options, restricted stock awards and restricted stock units outstanding during the period. A reconciliation of the shares used in calculating basic and diluted net income per share is as follows: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
November 2, | October 27, | November 2, | October 27, | ||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Weighted Average Common Shares Outstanding—Basic | 7,489,690 | 7,379,094 | 7,449,251 | 7,414,273 | |||||||||||||
Effect of Dilutive Options, Restricted Stock Awards and Restricted Stock Units | 226,130 | 82,864 | 200,763 | 72,315 | |||||||||||||
Weighted Average Common Shares Outstanding—Diluted | 7,715,820 | 7,461,958 | 7,650,014 | 7,486,588 | |||||||||||||
For the three and nine months ended November 2, 2013, the diluted per share amounts do not reflect common equivalent shares outstanding of 131,600 and 172,100, respectively, because their effect would have been anti-dilutive, as the exercise price was greater than the average market price of the underlying stock during the period presented. For the three and nine months ended October 27, 2012, the diluted per share amounts do not reflect common equivalent shares outstanding of 595,394 and 654,194, respectively, because their effect would have been anti-dilutive, as the exercise price was greater than the average market price of the underlying stock during the period presented. | |||||||||||||||||
ShareBased_Compensation
Share-Based Compensation | 9 Months Ended | ||||||||||||||||
Nov. 02, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Share-Based Compensation | ' | ||||||||||||||||
(5) Share-Based Compensation | |||||||||||||||||
Astro-Med has one equity incentive plan (the “Plan”) under which incentive stock options, non-qualified stock options, restricted stock units (“RSUs”), restricted stock awards (“RSAs”) and other equity based awards may be granted to officers and certain employees. An aggregate of 1,000,000 shares were authorized for awards under the Plan. At November 2, 2013, 356,350 shares were available for grant under the Plan. Options granted to employees vest over four years. The exercise price of each stock option will be established at the discretion of the Compensation Committee; however, any incentive stock options granted must be at an exercise price of not less than fair market value at the date of grant. In fiscal year 2013, a portion of the Company’s long-term incentive compensation was awarded in the form of RSUs. The 2013 RSUs vest fifty percent on the first anniversary of the grant date and fifty percent on the second anniversary of the grant date provided that the grantee is employed on each vesting date by Astro-Med or an affiliate company and provided the Company achieves specific thresholds of net sales and annual operating income as established under the fiscal 2013 Domestic Management Bonus Plan. All such RSUs were earned in fiscal 2013 and fifty percent vested in March 2013; the balance will vest in March 2014, subject to the grantee’s continued employment. In April 2013, the Company granted options and RSUs to officers (“2014 RSUs”). Each 2014 RSU will be earned and vest as follows: twenty-five percent of the 2014 RSU vests on the third anniversary of the grant date, fifty percent of the 2014 RSU vests upon the Company achieving its cumulative budgeted net sales target for fiscal years 2014 through 2016 (the “Measurement Period”), and twenty-five percent of the total 2014 RSU vests upon the Company’s achieving a target average annual ORONA (operating income return on net assets as calculated under the Domestic Management Bonus Plan) for the Measurement Period. The grantee may not sell, transfer or otherwise dispose of more than fifty percent of the common stock issued upon vesting of the RSU until the first anniversary of the vesting date. | |||||||||||||||||
The Plan provides for an automatic annual grant of ten-year options to purchase 5,000 shares of stock to each non-employee director upon the adjournment of each annual shareholders meeting. Each such option is exercisable at the fair market value as of the grant date and vests immediately prior to the next succeeding annual shareholders meeting. In addition to the automatic option grant under Plan, the Company has a Non-Employee Director Annual Compensation Program (the “Program”) which provides that each non-employee director is entitled to an annual cash retainer of $7,000 (the “Cash Retainer”), plus $500 for each Board and committee meeting attended, provided that if more than one meeting occurs on the same day, no more than $500 shall be paid for such day. The non-employee director may elect for any fiscal year to receive all or a portion of the Cash Retainer in the form of common stock of the Company, which will be issued under the Plan. If a non-employee director elects to receive all or a portion of the Cash Retainer in the form of common stock, such shares shall be issued in four quarterly installments on the first day of each fiscal quarter, and the number of shares of common stock to be issued shall be based on the fair market value of such common stock on the date such installment is payable. The common stock received in lieu of such Cash Retainer will be fully vested. However, a non-employee director who receives common stock in lieu of all or a portion of the Cash Retainer may not sell, transfer, assign, pledge or otherwise encumber the common stock prior to the first anniversary of the date on which such shares were issuable. In the event of the death or disability of a nonemployee director, or a change in control of the Company, any shares of common stock issued in lieu of such Cash Retainer, shall no longer be subject to such restrictions on transfer. | |||||||||||||||||
In addition, under the Program, each non-employee director receives RSAs with a value equal to $20,000 (the “Equity Retainer”) upon adjournment of each annual shareholders meeting. If a non-employee director is first appointed or elected to the Board of Directors effective on a date other than at the annual shareholders meeting, on the date of such appointment or election, the director shall receive a pro rata award of restricted common stock having a value based on the number of days remaining until the next annual meeting. The Equity Retainer will vest on the earlier of 12 months after the grant date or the date immediately prior to the next annual meeting of the shareholders following the meeting at which such RSAs were granted. However, a non-employee director may not sell, transfer, assign, pledge or otherwise encumber the vested common stock prior to the second anniversary of the vesting date. In the event of the death or disability of a non-employee director, or a change in control of the Company, the RSAs shall immediately vest and shall no longer be subject to such restrictions on transfer. | |||||||||||||||||
We account for compensation cost related to share-based payments based on fair value of the stock options, RSUs and RSAs when awarded to an employee or director. We have estimated the fair value of each option on the date of grant using the Black-Scholes option-pricing model. Our estimate requires a number of complex and subjective assumptions including our stock price volatility, employee exercise patterns (expected life of the options), the risk-free interest rate and the Company’s dividend yield. The stock price volatility assumption is based on the historical weekly price data of our common stock over a period equivalent to the weighted average expected life of our options. Management evaluated whether there were factors during that period which were unusual and would distort the volatility figure if used to estimate future volatility and concluded that there were no such factors. In determining the expected life of the option grants, the Company has observed the actual terms of prior grants with similar characteristics and the actual vesting schedule of the grant and has assessed the expected risk tolerance of different option groups. The risk-free interest rate is based on the actual U.S. Treasury zero coupon rates for bonds matching the expected term of the option as of the option grant date. The dividend assumption is based upon the prior year’s average dividend yield. Reductions in compensation expense associated with the forfeited options are estimated at the date of grant, and this estimated forfeiture rate is adjusted periodically based on actual forfeiture experience. Our accounting for share-based compensation for RSUs and RSAs is also based on the fair value method. The fair value of the RSUs and RSAs is based on the closing market price of the Company’s common stock on the grant date of the RSU or RSA. | |||||||||||||||||
Share-based compensation expense was recognized as follows: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
November 2, | October 27, | November 2, | October 27, | ||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(In thousands) | |||||||||||||||||
Stock Options | $ | 46 | $ | 42 | $ | 140 | $ | 120 | |||||||||
Restricted Stock Awards and Restricted Stock Units | 81 | 138 | 266 | 185 | |||||||||||||
Total | $ | 127 | $ | 180 | $ | 406 | $ | 305 | |||||||||
Stock Options | |||||||||||||||||
The fair value of stock options granted during the nine months ended November 2, 2013 and October 27, 2012 was estimated using the following assumptions: | |||||||||||||||||
Nine Months Ended | |||||||||||||||||
November 2, | October 27, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
Risk Free Interest Rate | 0.8 | % | 0.9 | % | |||||||||||||
Expected Volatility | 38.3 | % | 39.2 | % | |||||||||||||
Expected Life (in years) | 5 | 5 | |||||||||||||||
Dividend Yield | 2.6 | % | 3.4 | % | |||||||||||||
The weighted average fair value per share for options granted was $2.79 during the first and second quarters of fiscal 2014. No options were granted during the third quarter of fiscal 2014. This compares the weighted average fair value per share for options granted of $2.09, $2.01 and $1.93 during the first, second and third quarters of fiscal 2013, respectively. | |||||||||||||||||
Aggregated information regarding stock options granted under the Plan for the nine months ended November 2, 2013 is summarized below: | |||||||||||||||||
Number of Options | Weighted Average | Weighted Average | Aggregate Intrinsic | ||||||||||||||
Exercise Price | Remaining | Value | |||||||||||||||
Contractual Life | |||||||||||||||||
(in Years) | |||||||||||||||||
Outstanding at January 31, 2013 | 916,612 | $ | 8.46 | 4.4 | $ | 1,624,000 | |||||||||||
Granted | 56,800 | 10.54 | |||||||||||||||
Exercised | (156,273 | ) | 8.16 | ||||||||||||||
Expired or canceled | (22,624 | ) | 9.53 | ||||||||||||||
Outstanding at November 2, 2013 | 794,515 | $ | 8.64 | 4.7 | $ | 3,185,525 | |||||||||||
Exercisable at November 2, 2013 | 619,867 | $ | 8.59 | 3.6 | $ | 2,514,405 | |||||||||||
As of November 2, 2013, there was $305,646 of unrecognized compensation expense related to unvested options, which will be recognized through March 2017. | |||||||||||||||||
Restricted Stock Units (RSUs) and Restricted Stock Awards (RSAs) | |||||||||||||||||
Aggregated information regarding RSUs and RSAs granted under the Plan for the nine months ended November 2, 2013 is summarized below: | |||||||||||||||||
RSAs & RSUs | Weighted Average | ||||||||||||||||
Grant Date Fair Value | |||||||||||||||||
Unvested at January 31, 2013 | 96,900 | $ | 8.1 | ||||||||||||||
Granted | 57,544 | 10.14 | |||||||||||||||
Vested | (40,898 | ) | 8.15 | ||||||||||||||
Forfeited | — | — | |||||||||||||||
Unvested at November 2, 2013 | 113,546 | $ | 9.11 | ||||||||||||||
As of November 2, 2013, there was $457,878 of unrecognized compensation expense related to unvested RSUs and RSAs which will be recognized through April 2016. | |||||||||||||||||
Employee Stock Purchase Plan | |||||||||||||||||
Astro-Med has an Employee Stock Purchase Plan allowing eligible employees to purchase shares of common stock at a 15% discount from fair value on the date of purchase. A total of 247,500 shares were reserved for issuance under this plan. During the quarters ended November 2, 2013 and October 27, 2012, there were 886 and 1,535 shares respectively, purchased under this plan. During the nine months ended November 2, 2013 and October 27, 2012, there were 3,152 and 4,082 shares respectively, purchased under this plan. As of November 2, 2013, 61,709 shares remain available. |
Inventories
Inventories | 9 Months Ended | ||||||||
Nov. 02, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Inventories | ' | ||||||||
(6) Inventories | |||||||||
Inventories are stated at the lower of cost (first-in, first-out) or market and include material, labor and manufacturing overhead. The components of inventories are as follows: | |||||||||
November 2, 2013 | January 31, 2013 | ||||||||
(In thousands) | |||||||||
Materials and Supplies | $ | 6,383 | $ | 6,654 | |||||
Work-In-Process | 1,128 | 591 | |||||||
Finished Goods | 4,405 | 3,934 | |||||||
$ | 11,916 | $ | 11,179 | ||||||
Income_Taxes
Income Taxes | 9 Months Ended | ||||||||
Nov. 02, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Income Taxes | ' | ||||||||
(7) Income Taxes | |||||||||
The Company’s effective tax rates for income from continuing operations based on the projected effective tax rate for the full year, are as follows: | |||||||||
Three Months Ended | Nine Months Ended | ||||||||
Fiscal 2014 | 36.9 | % | 34.7 | % | |||||
Fiscal 2013 | 40 | % | 25.4 | % | |||||
During the three months ended November 2, 2013, the Company recognized a benefit of $187,000 recorded as a result of a favorable adjustment in the filing of the prior year’s tax returns. Of the $187,000 benefit, $18,000 relates to taxes on income from continuing operations. | |||||||||
During the nine months ended November 2, 2013, the Company recognized income tax expense on income from continuing operations of approximately $446,000 which included an expense of $464,000 on nine months pretax income from continuing operations and a benefit of $18,000 related to the favorable adjustment in the filing of the prior year’s tax returns. | |||||||||
During the nine months ended October 27, 2012, the Company recognized income tax expense on income from continuing operations of approximately $542,000 which included an expense of $844,000 on the nine month’s pretax income from continuing operations and a benefit of $302,000 related to the favorable resolution of a previously uncertain tax position. | |||||||||
As of November 2, 2013, the Company’s cumulative unrecognized tax benefits totaled $931,000 compared to $941,000 as of January 31, 2013. There were no developments affecting unrecognized tax benefits during the quarter ended November 2, 2013. | |||||||||
Line_of_Credit_and_Note_Receiv
Line of Credit and Note Receivable | 9 Months Ended |
Nov. 02, 2013 | |
Text Block [Abstract] | ' |
Line of Credit and Note Receivable | ' |
(8) Line of Credit and Note Receivable | |
On January 30, 2012, the Company completed the sale of its label manufacturing operations in Asheboro, North Carolina to Label Line Ltd. The net sales price of $1,000,000 was received in the form of a promissory note issued by Label Line Ltd. and is fully secured by a first lien on various collateral, including the Asheboro plant and plant assets. The note bears interest at a rate equal to the lesser of (i) the United States prime rate as of January 30, 2013 plus 50 basis points or (ii) six percent per annum and is payable in sixteen quarterly installments of principal and interest commencing on January 30, 2013. The Note Receivable is disclosed at its present value on the accompanying condensed consolidated balance sheets. | |
The terms of the Asheboro sale also included an agreement for Astro-Med to provide Label Line Ltd. with additional financing in the form of a revolving line of credit in the amount of $600,000. This line of credit is fully secured by a first lien on various collateral of Label Line Ltd., including the Asheboro plant and plant assets and bears interest at a rate equal to the United States prime rate plus an additional margin of two percent of the outstanding credit balance. The line of credit had an initial term of one-year from the date of the sale which may be extended for consecutive one-year terms on mutual agreement of both parties. On March 27, 2013, Astro-Med signed an agreement to extend this line of credit through January 30, 2014. As of November 2, 2013, $288,000 remains outstanding on this revolving line of credit. |
Segment_Information
Segment Information | 9 Months Ended | ||||||||||||||||||||||||||||||||
Nov. 02, 2013 | |||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||||||||||
Segment Information | ' | ||||||||||||||||||||||||||||||||
(9) Segment Information | |||||||||||||||||||||||||||||||||
Astro-Med reports two segments consistent with its sales product groups: Test & Measurement (T&M) and QuickLabel Systems (QuickLabel). On January 31, 2013, the Company completed the sale of substantially all of the assets of its Grass Technologies Product Group (Grass) in order to focus on its existing core businesses. Consequently, the Company has classified the results of operations of Grass as discontinued operations for all periods presented. Refer to Note 14, “Discontinued Operations” for a further discussion. | |||||||||||||||||||||||||||||||||
The Company evaluates segment performance based on the segment profit before corporate expenses. | |||||||||||||||||||||||||||||||||
Summarized below are the Net Sales and Segment Operating Profit for each reporting segment: | |||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||
Net Sales | Segment Operating Profit | Net Sales | Segment Operating Profit | ||||||||||||||||||||||||||||||
(In thousands) | November 2, | October 27, | November 2, | October 27, | November 2, | October 27, | November 2, | October 27, | |||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
T&M | $ | 5,670 | $ | 5,359 | $ | 912 | $ | 1,252 | $ | 14,756 | $ | 13,188 | $ | 1,803 | $ | 2,393 | |||||||||||||||||
QuickLabel | 12,509 | 10,680 | 1,494 | 1,136 | 36,102 | 31,850 | 3,962 | 3,140 | |||||||||||||||||||||||||
Total | $ | 18,179 | $ | 16,039 | 2,406 | 2,388 | $ | 50,858 | $ | 45,038 | 5,765 | 5,533 | |||||||||||||||||||||
Product Replacement Related Costs | — | — | 672 | — | |||||||||||||||||||||||||||||
Corporate Expenses | 1,223 | 1,187 | 3,745 | 3,339 | |||||||||||||||||||||||||||||
Operating Income | 1,183 | 1,201 | 1,348 | 2,194 | |||||||||||||||||||||||||||||
Other Income (Expense)—Net | (2 | ) | 47 | (64 | ) | (56 | ) | ||||||||||||||||||||||||||
Income From Continuing Operations Before Income Taxes | 1,181 | 1,248 | 1,284 | 2,138 | |||||||||||||||||||||||||||||
Income Tax Provision | 436 | 499 | 446 | 542 | |||||||||||||||||||||||||||||
745 | 749 | 838 | 1,596 | ||||||||||||||||||||||||||||||
Income From Discontinued Operations, Net of Income Taxes | 363 | 558 | 517 | 1,535 | |||||||||||||||||||||||||||||
Net Income | $ | 1,108 | $ | 1,307 | $ | 1,355 | $ | 3,131 | |||||||||||||||||||||||||
Recent_Accounting_Pronouncemen
Recent Accounting Pronouncements | 9 Months Ended |
Nov. 02, 2013 | |
Accounting Changes And Error Corrections [Abstract] | ' |
Recent Accounting Pronouncements | ' |
(10) Recent Accounting Pronouncements | |
Comprehensive Income | |
In February 2013, the Financial Standards Accounting Board issued Accounting Standard Update 2013-02, (“ASU-2013-02”) “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income,” which requires entities to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, entities are required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, entities are required to cross-reference to other disclosures that provide additional detail on these amounts. ASU 2013-02 was effective prospectively for reporting periods beginning after December 15, 2012. We adopted this guidance in our first quarter ending May 4, 2013 and have provided the disclosure required in Note 13. Since ASU 2013-02 only impacts presentation and disclosure requirements, the adoption of this guidance did not have a material impact on the Company’s financial position or results of operations. | |
No other new accounting pronouncements, issued or effective during the first nine months of the current year, have had or are expected to have a material impact on our consolidated financial statements. |
Securities_Available_for_Sale
Securities Available for Sale | 9 Months Ended | ||||||||||||||||
Nov. 02, 2013 | |||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||
Securities Available for Sale | ' | ||||||||||||||||
(11) Securities Available for Sale | |||||||||||||||||
Pursuant to our investment policy, securities available for sale include state and municipal securities with various contractual or anticipated maturity dates ranging from 1 to 33 months. Securities available for sale are carried at fair value, with unrealized gains and losses reported as a component of accumulated other comprehensive income (loss) in shareholders’ equity until realized. Realized gains and losses from the sale of available for sale securities, if any, are determined on a specific identification basis. A decline in the fair value of any available for sale security below cost that is determined to be other than temporary will result in a write-down of its carrying amount to fair value. No such impairment charges were recorded for any period presented. All short-term investment securities have original maturities greater than 90 days. | |||||||||||||||||
The fair value, amortized cost and gross unrealized gains and losses of the securities are as follows: | |||||||||||||||||
(In thousands) | Amortized Cost | Gross Unrealized | Gross Unrealized | Fair Value | |||||||||||||
November 2, 2013 | Gains | Losses | |||||||||||||||
State and Municipal Obligations | $ | 19,615 | $ | 39 | $ | — | $ | 19,654 | |||||||||
January 31, 2013 | Amortized Cost | Gross Unrealized | Gross Unrealized | Fair Value | |||||||||||||
Gains | Losses | ||||||||||||||||
State and Municipal Obligations | $ | 8,499 | $ | 10 | $ | — | $ | 8,509 | |||||||||
Fair_Value
Fair Value | 9 Months Ended | ||||||||||||||||
Nov. 02, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value | ' | ||||||||||||||||
(12) Fair Value | |||||||||||||||||
We measure our financial assets at fair value on a recurring basis in accordance with the guidance provided in ASC 820, “Fair Value Measurement and Disclosures” which defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). In addition, ASC 820 establishes a three-tiered hierarchy for inputs used in management’s determination of fair value of financial instruments that emphasizes the use of observable inputs over the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that reflect management’s belief about the assumptions market participants would use in pricing a financial instrument based on the best information available in the circumstances. | |||||||||||||||||
The fair value hierarchy is summarized as follows: | |||||||||||||||||
• | Level 1—Quoted prices in active markets for identical assets or liabilities; | ||||||||||||||||
• | Level 2—Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and | ||||||||||||||||
• | Level 3—Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | ||||||||||||||||
Cash and cash equivalents; accounts receivables; line of credit receivable; notes receivable; accounts payable; accrued compensation and other expenses and income tax payable are reflected in the condensed consolidated balance sheet at carrying value, which approximates fair value due to the short term nature of the these instruments. | |||||||||||||||||
Assets measured at fair value on a recurring basis are summarized below: | |||||||||||||||||
(In thousands) | |||||||||||||||||
November 2, 2013 | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Money Market Funds (included in Cash and Cash Equivalents) | $ | 7,557 | $ | — | $ | — | $ | 7,557 | |||||||||
State and Municipal Obligations (included in Securities Available for Sale) | 19,654 | — | — | 19,654 | |||||||||||||
Total | $ | 27,211 | $ | — | $ | — | $ | 27,211 | |||||||||
January 31, 2013 | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Money Market Funds (included in Cash and Cash Equivalents) | $ | 8,784 | $ | — | $ | — | $ | 8,784 | |||||||||
State and Municipal Obligations (included in Securities Available for Sale) | 8,509 | 8,509 | |||||||||||||||
Total | $ | 17,293 | $ | — | $ | — | $ | 17,293 | |||||||||
For our money market funds and state and municipal obligations, we utilize the market approach to measure fair value. The market approach is based on using quoted market prices for identical assets. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) | 9 Months Ended | ||||||||||||
Nov. 02, 2013 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||
(13) Accumulated Other Comprehensive Income (Loss) | |||||||||||||
The changes in the balance of accumulated other comprehensive income (loss) by component are as follows: | |||||||||||||
(In thousands) | Foreign Currency | Unrealized Holding Gain | Total | ||||||||||
Translation | on Available for | ||||||||||||
Adjustments | Sale Securities | ||||||||||||
Balance at January 31, 2013 | $ | 166 | $ | 7 | $ | 173 | |||||||
Other Comprehensive Income (Loss) | (56 | ) | 18 | (38 | ) | ||||||||
Amounts reclassified to Net Income | — | — | — | ||||||||||
Net Other Comprehensive Income (Loss) | (56 | ) | 18 | (38 | ) | ||||||||
Balance at November 2, 2013 | $ | 110 | $ | 25 | $ | 135 | |||||||
The amounts presented above in other comprehensive income are net of taxes. | |||||||||||||
Discontinued_Operations
Discontinued Operations | 9 Months Ended | ||||||||||||||||
Nov. 02, 2013 | |||||||||||||||||
Discontinued Operations And Disposal Groups [Abstract] | ' | ||||||||||||||||
Discontinued Operations | ' | ||||||||||||||||
(14) Discontinued Operations | |||||||||||||||||
On January 31, 2013, the Company completed the sale of substantially all of the assets of its Grass Technologies Product Group (Grass) which manufactured polysomnography and electroencephalography systems and related accessories and propriety electrodes for use in both research and clinical settings. The assets sold consisted primarily of working capital (exclusive of inventory and accounts payable related to manufacturing), the engineering, sales and support workforce, intellectual property and certain other related assets. The proceeds from the sale consisted of $18.6 million in cash, of which $1.8 million is being held in escrow as restricted cash, for twelve months following the closing date of the transaction in order to provide indemnity to the purchaser in the event of any breach in the representations, warranties and covenants of Astro-Med. The Company has fully reserved the $1.8 million in Other Accrued Expenses in the accompanying condensed consolidated balance sheets. | |||||||||||||||||
As part of this transaction, Astro-Med entered into a Transition Service Agreement (TSA) with the purchaser pursuant to which the Company will provide transition services and continue to manufacture Grass products for the purchaser. The TSA will expire January 31, 2014 at which time the purchaser will acquire any remaining inventory. On September 20, 2013, the Company entered into a new contract manufacturing agreement with the purchaser to become an exclusive manufacturer of certain medical devices. The effective date of this agreement is February 1, 2014 and the agreement is for a period two years from the effective date. The Company has determined that cash flows from this activity will not be significant and therefore Grass has been presented as a discontinued operation for all periods presented. | |||||||||||||||||
Results for discontinued operations are as follows: | |||||||||||||||||
Three Months | Nine Months | ||||||||||||||||
Ended | Ended | ||||||||||||||||
November 2, | October 27, | November 2, | October 27, | ||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(In thousands) | |||||||||||||||||
Net Sales | $ | 2,485 | $ | 4,523 | $ | 6,201 | $ | 13,520 | |||||||||
Gross Profit | $ | 290 | $ | 2,354 | $ | 668 | $ | 6,969 | |||||||||
Net Income from Discontinued Operations | $ | 363 | $ | 558 | $ | 517 | $ | 1,535 | |||||||||
During the three months ended November 2, 2013, the Company recognized a tax benefit of $89,000 on income from discontinued operations, which included an expense of $80,000 on three months pretax income from discontinued operations and a benefit of $169,000 recorded as a result of a favorable adjustment in the filing of the prior year’s tax returns. During the nine months ended November 2, 2013, the Company recognized a tax benefit of $2,000 on income from discontinued operations, which included an expense of $167,000 and a benefit of $169,000 recorded as a result of a favorable adjustment in the filing of the prior years tax returns. | |||||||||||||||||
As a result of the sale of the Grass assets, the Company is in the process of selling its facility located in Rockland, Massachusetts, which was the former location of Grass production. This property is being actively marketed with sale considered probable within the next twelve months and as such, the property is classified as an Asset Held for Sale in the accompanying condensed consolidated balance sheets. | |||||||||||||||||
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended |
Nov. 02, 2013 | |
Commitments And Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies | ' |
(15) Commitments and Contingencies | |
Product Replacement Program | |
In April 2013, tests conducted by the Company revealed that one of its suppliers had been using non-conforming material in the cover of the power supply used in certain models of Astro-Med’s Test & Measurement printers. No malfunctions have been reported by customers as a result of the non-conforming material. | |
Upon identifying this issue, Astro-Med immediately suspended production of the printers, notified all customers and contacted the supplier who confirmed the problem. Astro-Med is working with its customers to replace the non-conforming material on existing printers with conforming material and will do this on a gradual basis over several months. The estimated costs associated with the replacement program are $672,000, which was based upon the number of printers shipped during the period the non-conforming material was used. Those costs have been recognized and recorded in the first quarter and are included in the accompanying condensed consolidated statement of operations for the nine months ended November 2, 2013. The related remaining reserve amount of $520,000 is included in Other Accrued Expenses in the accompanying condensed consolidated balance sheet dated November 2, 2013. | |
Astro-Med is currently receiving power supplies with compliant materials and has resumed printer production and shipments to customers. | |
Since Astro-Med’s supplier deviated from the agreed upon specifications for the power supply while providing certificates of conformance to the original specifications, the Company is currently in negotiations with the supplier and is seeking recovery for the costs and associated with this issue. | |
Recent_Accounting_Pronouncemen1
Recent Accounting Pronouncements (Policies) | 9 Months Ended |
Nov. 02, 2013 | |
Accounting Changes And Error Corrections [Abstract] | ' |
Comprehensive Income | ' |
Comprehensive Income | |
In February 2013, the Financial Standards Accounting Board issued Accounting Standard Update 2013-02, (“ASU-2013-02”) “Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income,” which requires entities to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, entities are required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, entities are required to cross-reference to other disclosures that provide additional detail on these amounts. ASU 2013-02 was effective prospectively for reporting periods beginning after December 15, 2012. We adopted this guidance in our first quarter ending May 4, 2013 and have provided the disclosure required in Note 13. Since ASU 2013-02 only impacts presentation and disclosure requirements, the adoption of this guidance did not have a material impact on the Company’s financial position or results of operations. | |
Fair Value Measurement and Disclosures | ' |
We measure our financial assets at fair value on a recurring basis in accordance with the guidance provided in ASC 820, “Fair Value Measurement and Disclosures” which defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price). In addition, ASC 820 establishes a three-tiered hierarchy for inputs used in management’s determination of fair value of financial instruments that emphasizes the use of observable inputs over the use of unobservable inputs by requiring that observable inputs be used when available. Observable inputs are inputs that reflect management’s belief about the assumptions market participants would use in pricing a financial instrument based on the best information available in the circumstances. |
Net_Income_Per_Common_Share_Ta
Net Income Per Common Share (Tables) | 9 Months Ended | ||||||||||||||||
Nov. 02, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Reconciliation of the Shares Used in Calculating Basic and Diluted | ' | ||||||||||||||||
A reconciliation of the shares used in calculating basic and diluted net income per share is as follows: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
November 2, | October 27, | November 2, | October 27, | ||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Weighted Average Common Shares Outstanding—Basic | 7,489,690 | 7,379,094 | 7,449,251 | 7,414,273 | |||||||||||||
Effect of Dilutive Options, Restricted Stock Awards and Restricted Stock Units | 226,130 | 82,864 | 200,763 | 72,315 | |||||||||||||
Weighted Average Common Shares Outstanding—Diluted | 7,715,820 | 7,461,958 | 7,650,014 | 7,486,588 | |||||||||||||
ShareBased_Compensation_Tables
Share-Based Compensation (Tables) | 9 Months Ended | ||||||||||||||||
Nov. 02, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Share-Based Compensation Expense | ' | ||||||||||||||||
Share-based compensation expense was recognized as follows: | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
November 2, | October 27, | November 2, | October 27, | ||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(In thousands) | |||||||||||||||||
Stock Options | $ | 46 | $ | 42 | $ | 140 | $ | 120 | |||||||||
Restricted Stock Awards and Restricted Stock Units | 81 | 138 | 266 | 185 | |||||||||||||
Total | $ | 127 | $ | 180 | $ | 406 | $ | 305 | |||||||||
Fair Value of Stock Options Granted | ' | ||||||||||||||||
The fair value of stock options granted during the nine months ended November 2, 2013 and October 27, 2012 was estimated using the following assumptions: | |||||||||||||||||
Nine Months Ended | |||||||||||||||||
November 2, | October 27, | ||||||||||||||||
2013 | 2012 | ||||||||||||||||
Risk Free Interest Rate | 0.8 | % | 0.9 | % | |||||||||||||
Expected Volatility | 38.3 | % | 39.2 | % | |||||||||||||
Expected Life (in years) | 5 | 5 | |||||||||||||||
Dividend Yield | 2.6 | % | 3.4 | % | |||||||||||||
Aggregated Information Regarding Stock Options Granted | ' | ||||||||||||||||
Aggregated information regarding stock options granted under the Plan for the nine months ended November 2, 2013 is summarized below: | |||||||||||||||||
Number of Options | Weighted Average | Weighted Average | Aggregate Intrinsic | ||||||||||||||
Exercise Price | Remaining | Value | |||||||||||||||
Contractual Life | |||||||||||||||||
(in Years) | |||||||||||||||||
Outstanding at January 31, 2013 | 916,612 | $ | 8.46 | 4.4 | $ | 1,624,000 | |||||||||||
Granted | 56,800 | 10.54 | |||||||||||||||
Exercised | (156,273 | ) | 8.16 | ||||||||||||||
Expired or canceled | (22,624 | ) | 9.53 | ||||||||||||||
Outstanding at November 2, 2013 | 794,515 | $ | 8.64 | 4.7 | $ | 3,185,525 | |||||||||||
Exercisable at November 2, 2013 | 619,867 | $ | 8.59 | 3.6 | $ | 2,514,405 | |||||||||||
Aggregated Information Regarding RSUs and RSAs Granted | ' | ||||||||||||||||
Aggregated information regarding RSUs and RSAs granted under the Plan for the nine months ended November 2, 2013 is summarized below: | |||||||||||||||||
RSAs & RSUs | Weighted Average | ||||||||||||||||
Grant Date Fair Value | |||||||||||||||||
Unvested at January 31, 2013 | 96,900 | $ | 8.1 | ||||||||||||||
Granted | 57,544 | 10.14 | |||||||||||||||
Vested | (40,898 | ) | 8.15 | ||||||||||||||
Forfeited | — | — | |||||||||||||||
Unvested at November 2, 2013 | 113,546 | $ | 9.11 | ||||||||||||||
Inventories_Tables
Inventories (Tables) | 9 Months Ended | ||||||||
Nov. 02, 2013 | |||||||||
Inventory Disclosure [Abstract] | ' | ||||||||
Components of Inventories | ' | ||||||||
The components of inventories are as follows: | |||||||||
November 2, 2013 | January 31, 2013 | ||||||||
(In thousands) | |||||||||
Materials and Supplies | $ | 6,383 | $ | 6,654 | |||||
Work-In-Process | 1,128 | 591 | |||||||
Finished Goods | 4,405 | 3,934 | |||||||
$ | 11,916 | $ | 11,179 | ||||||
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | ||||||||
Nov. 02, 2013 | |||||||||
Income Tax Disclosure [Abstract] | ' | ||||||||
Projected Effective Tax Rate for the Periods | ' | ||||||||
The Company’s effective tax rates for income from continuing operations based on the projected effective tax rate for the full year, are as follows: | |||||||||
Three Months Ended | Nine Months Ended | ||||||||
Fiscal 2014 | 36.9 | % | 34.7 | % | |||||
Fiscal 2013 | 40 | % | 25.4 | % |
Segment_Information_Tables
Segment Information (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Nov. 02, 2013 | |||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||||||||||||||||||
Net Sales and Segment Operating Profit for Each Reporting Segment | ' | ||||||||||||||||||||||||||||||||
Summarized below are the Net Sales and Segment Operating Profit for each reporting segment: | |||||||||||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||||||
Net Sales | Segment Operating Profit | Net Sales | Segment Operating Profit | ||||||||||||||||||||||||||||||
(In thousands) | November 2, | October 27, | November 2, | October 27, | November 2, | October 27, | November 2, | October 27, | |||||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||||||||
T&M | $ | 5,670 | $ | 5,359 | $ | 912 | $ | 1,252 | $ | 14,756 | $ | 13,188 | $ | 1,803 | $ | 2,393 | |||||||||||||||||
QuickLabel | 12,509 | 10,680 | 1,494 | 1,136 | 36,102 | 31,850 | 3,962 | 3,140 | |||||||||||||||||||||||||
Total | $ | 18,179 | $ | 16,039 | 2,406 | 2,388 | $ | 50,858 | $ | 45,038 | 5,765 | 5,533 | |||||||||||||||||||||
Product Replacement Related Costs | — | — | 672 | — | |||||||||||||||||||||||||||||
Corporate Expenses | 1,223 | 1,187 | 3,745 | 3,339 | |||||||||||||||||||||||||||||
Operating Income | 1,183 | 1,201 | 1,348 | 2,194 | |||||||||||||||||||||||||||||
Other Income (Expense)—Net | (2 | ) | 47 | (64 | ) | (56 | ) | ||||||||||||||||||||||||||
Income From Continuing Operations Before Income Taxes | 1,181 | 1,248 | 1,284 | 2,138 | |||||||||||||||||||||||||||||
Income Tax Provision | 436 | 499 | 446 | 542 | |||||||||||||||||||||||||||||
745 | 749 | 838 | 1,596 | ||||||||||||||||||||||||||||||
Income From Discontinued Operations, Net of Income Taxes | 363 | 558 | 517 | 1,535 | |||||||||||||||||||||||||||||
Net Income | $ | 1,108 | $ | 1,307 | $ | 1,355 | $ | 3,131 | |||||||||||||||||||||||||
Securities_Available_for_Sale_
Securities Available for Sale (Tables) | 9 Months Ended | ||||||||||||||||
Nov. 02, 2013 | |||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||
Fair Value, Amortized Cost and Gross Unrealized Gains and Losses of the Securities | ' | ||||||||||||||||
The fair value, amortized cost and gross unrealized gains and losses of the securities are as follows: | |||||||||||||||||
(In thousands) | Amortized Cost | Gross Unrealized | Gross Unrealized | Fair Value | |||||||||||||
November 2, 2013 | Gains | Losses | |||||||||||||||
State and Municipal Obligations | $ | 19,615 | $ | 39 | $ | — | $ | 19,654 | |||||||||
January 31, 2013 | Amortized Cost | Gross Unrealized | Gross Unrealized | Fair Value | |||||||||||||
Gains | Losses | ||||||||||||||||
State and Municipal Obligations | $ | 8,499 | $ | 10 | $ | — | $ | 8,509 | |||||||||
Fair_Value_Tables
Fair Value (Tables) | 9 Months Ended | ||||||||||||||||
Nov. 02, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Assets Measured at Fair Value on a Recurring Basis | ' | ||||||||||||||||
Assets measured at fair value on a recurring basis are summarized below: | |||||||||||||||||
(In thousands) | |||||||||||||||||
November 2, 2013 | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Money Market Funds (included in Cash and Cash Equivalents) | $ | 7,557 | $ | — | $ | — | $ | 7,557 | |||||||||
State and Municipal Obligations (included in Securities Available for Sale) | 19,654 | — | — | 19,654 | |||||||||||||
Total | $ | 27,211 | $ | — | $ | — | $ | 27,211 | |||||||||
January 31, 2013 | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Money Market Funds (included in Cash and Cash Equivalents) | $ | 8,784 | $ | — | $ | — | $ | 8,784 | |||||||||
State and Municipal Obligations (included in Securities Available for Sale) | 8,509 | 8,509 | |||||||||||||||
Total | $ | 17,293 | $ | — | $ | — | $ | 17,293 | |||||||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended | ||||||||||||
Nov. 02, 2013 | |||||||||||||
Equity [Abstract] | ' | ||||||||||||
Changes in the Balance of Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||
The changes in the balance of accumulated other comprehensive income (loss) by component are as follows: | |||||||||||||
(In thousands) | Foreign Currency | Unrealized Holding Gain | Total | ||||||||||
Translation | on Available for | ||||||||||||
Adjustments | Sale Securities | ||||||||||||
Balance at January 31, 2013 | $ | 166 | $ | 7 | $ | 173 | |||||||
Other Comprehensive Income (Loss) | (56 | ) | 18 | (38 | ) | ||||||||
Amounts reclassified to Net Income | — | — | — | ||||||||||
Net Other Comprehensive Income (Loss) | (56 | ) | 18 | (38 | ) | ||||||||
Balance at November 2, 2013 | $ | 110 | $ | 25 | $ | 135 | |||||||
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 9 Months Ended | ||||||||||||||||
Nov. 02, 2013 | |||||||||||||||||
Discontinued Operations And Disposal Groups [Abstract] | ' | ||||||||||||||||
Summary of Discontinued Operations | ' | ||||||||||||||||
Results for discontinued operations are as follows: | |||||||||||||||||
Three Months | Nine Months | ||||||||||||||||
Ended | Ended | ||||||||||||||||
November 2, | October 27, | November 2, | October 27, | ||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(In thousands) | |||||||||||||||||
Net Sales | $ | 2,485 | $ | 4,523 | $ | 6,201 | $ | 13,520 | |||||||||
Gross Profit | $ | 290 | $ | 2,354 | $ | 668 | $ | 6,969 | |||||||||
Net Income from Discontinued Operations | $ | 363 | $ | 558 | $ | 517 | $ | 1,535 | |||||||||
Net_Income_Per_Common_Share_Re
Net Income Per Common Share - Reconciliation of the Shares Used in Calculating Basic and Diluted (Detail) | 3 Months Ended | 9 Months Ended | ||
Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | |
Equity [Abstract] | ' | ' | ' | ' |
Weighted Average Common Shares Outstanding - Basic | 7,489,690 | 7,379,094 | 7,449,251 | 7,414,273 |
Effect of Dilutive Options, Restricted Stock Awards and Restricted Stock Units | 226,130 | 82,864 | 200,763 | 72,315 |
Weighted Average Common Shares Outstanding - Diluted | 7,715,820 | 7,461,958 | 7,650,014 | 7,486,588 |
Net_Income_Per_Common_Share_Ad
Net Income Per Common Share - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | ||
Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | |
Equity [Abstract] | ' | ' | ' | ' |
Anti-dilutive option | 131,600 | 595,394 | 172,100 | 654,194 |
ShareBased_Compensation_Additi
Share-Based Compensation - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | |||||||||||||||||||
Nov. 02, 2013 | Aug. 03, 2013 | 4-May-13 | Oct. 27, 2012 | Jul. 28, 2012 | Apr. 28, 2012 | Nov. 02, 2013 | Jan. 31, 2013 | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | Nov. 02, 2013 | |
Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Employee Stock Purchase Plan [Member] | Non-Employee Director [Member] | 2013 Restricted Stock Units (RSUs) [Member] | 2013 Restricted Stock Units (RSUs) [Member] | 2014 Restricted Stock Units (RSUs) [Member] | 2014 Restricted Stock Units (RSUs) [Member] | 2014 Restricted Stock Units (RSUs) [Member] | 2014 Restricted Stock Units (RSUs) [Member] | 2014 Restricted Stock Units (RSUs) [Member] | Equity Incentive Plan [Member] | Equity Incentive Plan [Member] | Restricted Stock [Member] | Equity Option [Member] | |||||||||
First Anniversary [Member] | Second Anniversary [Member] | Officer [Member] | Officer [Member] | Officer [Member] | Officer [Member] | Non-Employee Director [Member] | Non-Employee Director [Member] | |||||||||||||||||
Net Sales Target [Member] | ORONA Target [Member] | Third Anniversary [Member] | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Award vesting period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '12 months | '4 years |
Aggregate shares authorized for awards under the plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' |
Shares available for grant under the Plan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 356,350 | ' | ' | ' |
Restricted stock unit vested percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | 50.00% | ' | ' | 50.00% | 25.00% | 25.00% | ' | ' | ' | ' |
Maximum disposal restricted percentage of RSU | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cumulative budgeted net sales target measurement period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2014 through 2016 | ' | ' | ' | ' | ' | ' | ' |
Option expiration period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' |
Stock options grant to each non-employee director | ' | ' | ' | ' | ' | ' | 56,800 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,000 | ' | ' |
Non-employee director is entitled to an annual cash retainer | ' | ' | ' | ' | ' | ' | $7,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-employee director is entitled to an annual cash retainer additional | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Non-employee director received restricted stock award value | ' | ' | ' | ' | ' | ' | 20,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Options granted weighted average fair value per share | $0 | $2.79 | $2.79 | $1.93 | $2.01 | $2.09 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized compensation expense related to unvested options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 305,646 |
Unrecognized compensation expense related to unvested options, recognize date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'through April 2016 | ' | ' | ' | ' | ' | ' | ' | 'through March 2017 |
Unrecognized compensation expense related to unvested RSUs and RSAs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $457,878 | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Stock Purchase Plan discount rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reservation of shares under Stock Purchase Plan | ' | ' | ' | ' | ' | ' | 247,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares purchase under Employee Stock Purchase Plan | ' | ' | ' | ' | ' | ' | ' | ' | 886 | 1,535 | 3,152 | 4,082 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available shares under Stock Purchase Plan | 794,515 | ' | ' | ' | ' | ' | 794,515 | 916,612 | 61,709 | ' | 61,709 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
ShareBased_Compensation_ShareB
Share-Based Compensation - Share-Based Compensation Expense (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based compensation, Total | $127 | $180 | $406 | $305 |
Stock Options [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based compensation, Total | 46 | 42 | 140 | 120 |
Restricted Stock Awards and Restricted Stock Units [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Share-based compensation, Total | $81 | $138 | $266 | $185 |
ShareBased_Compensation_Fair_V
Share-Based Compensation - Fair Value of Stock Options Granted (Detail) | 9 Months Ended | |
Nov. 02, 2013 | Oct. 27, 2012 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' |
Risk Free Interest Rate | 0.80% | 0.90% |
Expected Volatility | 38.30% | 39.20% |
Expected Life (in years) | '5 years | '5 years |
Dividend Yield | 2.60% | 3.40% |
ShareBased_Compensation_Aggreg
Share-Based Compensation - Aggregated Information Regarding Stock Options Granted (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
Nov. 02, 2013 | Jan. 31, 2013 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' |
Beginning balance, Number of Options | 916,612 | ' |
Granted, Number of Options | 56,800 | ' |
Exercised, Number of Options | -156,273 | ' |
Expired or canceled, Number of Options | -22,624 | ' |
Ending balance, Number of Options | 794,515 | 916,612 |
Exercisable, Number of Options | 619,867 | ' |
Beginning balance, Weighted Average Exercise Price | $8.46 | ' |
Granted, Weighted Average Exercise Price | $10.54 | ' |
Exercised, Weighted Average Exercise Price | $8.16 | ' |
Expired or canceled, Weighted Average Exercise Price | $9.53 | ' |
Ending balance, Weighted Average Exercise Price | $8.64 | $8.46 |
Exercisable, Weighted Average Exercise Price | $8.59 | ' |
Weighted Average Remaining Contractual Life (in Years) | '4 years 8 months 12 days | '4 years 4 months 24 days |
Exercisable, Weighted Average Remaining Contractual Life (in Years) | '3 years 7 months 6 days | ' |
Beginning balance, Aggregated Intrinsic Value | $1,624,000 | ' |
Ending balance, Aggregated Intrinsic Value | 3,185,525 | 1,624,000 |
Exercisable, Aggregate Intrinsic Value | $2,514,405 | ' |
ShareBased_Compensation_Aggreg1
Share-Based Compensation - Aggregated Information Regarding RSUs and RSAs Granted (Detail) (USD $) | 9 Months Ended |
Nov. 02, 2013 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
Beginning balance, Unvested Restricted Stock Units and Restricted Stock Awards | 96,900 |
Granted, Restricted Stock Units and Restricted Stock Awards | 57,544 |
Vested, Restricted Stock Units and Restricted Stock Awards | -40,898 |
Forfeited, Restricted Stock Units and Restricted Stock Awards | ' |
Ending balance, Unvested Restricted Stock Units and Restricted Stock Awards | 113,546 |
Beginning balance, Weighted Average Grant Date Fair Value | $8.10 |
Granted, Weighted Average Grant Date Fair Value | $10.14 |
Vested, Weighted Average Grant Date Fair Value | $8.15 |
Forfeited, Weighted Average Grant Date Fair Value | ' |
Ending balance, Weighted Average Grant Date Fair Value | $9.11 |
Inventories_Components_of_Inve
Inventories - Components of Inventories (Detail) (USD $) | Nov. 02, 2013 | Jan. 31, 2013 |
In Thousands, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ' | ' |
Materials and Supplies | $6,383 | $6,654 |
Work-In-Process | 1,128 | 591 |
Finished Goods | 4,405 | 3,934 |
Inventories, Net | $11,916 | $11,179 |
Income_Taxes_Projected_Effecti
Income Taxes - Projected Effective Tax Rate for Periods (Detail) | 3 Months Ended | 9 Months Ended |
Nov. 02, 2013 | Nov. 02, 2013 | |
Income Tax Disclosure [Abstract] | ' | ' |
Fiscal 2014 | 36.90% | 34.70% |
Fiscal 2013 | 40.00% | 25.40% |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | Jan. 31, 2013 | |
Income Tax Disclosure [Abstract] | ' | ' | ' | ' | ' |
Pretax income and benefit | $187,000 | ' | $18,000 | $302,000 | ' |
Income tax expense on income | 436,000 | 499,000 | 446,000 | 542,000 | ' |
Expense included in income tax | ' | ' | 464,000 | 844,000 | ' |
Cumulative unrecognized tax benefits | 931,000 | ' | 931,000 | ' | 941,000 |
Developments affecting unrecognized tax benefits | $0 | ' | ' | ' | ' |
Line_of_Credit_and_Note_Receiv1
Line of Credit and Note Receivable - Additional Information (Detail) (USD $) | 9 Months Ended | |
Nov. 02, 2013 | Jan. 30, 2012 | |
Installment | ||
Credit Facilities [Line Items] | ' | ' |
Net sales price | ' | $1,000,000 |
United States prime and interest commencement date | 30-Jan-13 | ' |
Promissory note interest rate | 6.00% | ' |
Interest installments | 16 | ' |
Revolving line of credit | 600,000 | ' |
Extended revolving line of credit | $288,000 | ' |
Revolving Credit Facility [Member] | ' | ' |
Credit Facilities [Line Items] | ' | ' |
Line of credit facility maturity date | 30-Jan-14 | ' |
Line of credit facility extended term | '1 year | ' |
Line of credit facility initial term | '1 year | ' |
Prime Rate [Member] | ' | ' |
Credit Facilities [Line Items] | ' | ' |
Interest rate on outstanding credit balance | 0.50% | ' |
Prime Rate [Member] | Revolving Credit Facility [Member] | ' | ' |
Credit Facilities [Line Items] | ' | ' |
Interest rate on outstanding credit balance | 2.00% | ' |
Segment_Information_Additional
Segment Information - Additional Information (Detail) | 9 Months Ended |
Nov. 02, 2013 | |
Segment | |
Segment Reporting [Abstract] | ' |
Number of segments | 2 |
Segment_Information_Net_Sales_
Segment Information - Net Sales and Segment Operating Profit for Each Reporting Segment (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net Sales | $18,179 | $16,039 | $50,858 | $45,038 |
Product Replacement Related Costs | ' | ' | 672 | ' |
Operating Income | 1,183 | 1,201 | 1,348 | 2,194 |
Other Income (Expense)-Net | -2 | 47 | -64 | -56 |
Income From Continuing Operations Before Income Taxes | 1,181 | 1,248 | 1,284 | 2,138 |
Income Tax Provision | 436 | 499 | 446 | 542 |
Income from Continuing Operations | 745 | 749 | 838 | 1,596 |
Income From Discontinued Operations, Net of Income Taxes | 363 | 558 | 517 | 1,535 |
Net Income | 1,108 | 1,307 | 1,355 | 3,131 |
Operating Segments [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net Sales | 18,179 | 16,039 | 50,858 | 45,038 |
Segment Operating Profit | 2,406 | 2,388 | 5,765 | 5,533 |
Product Replacement Related Costs | ' | ' | 672 | ' |
Corporate Expenses | 1,223 | 1,187 | 3,745 | 3,339 |
Operating Income | 1,183 | 1,201 | 1,348 | 2,194 |
Other Income (Expense)-Net | -2 | 47 | -64 | -56 |
Income From Continuing Operations Before Income Taxes | 1,181 | 1,248 | 1,284 | 2,138 |
Income Tax Provision | 436 | 499 | 446 | 542 |
Income from Continuing Operations | 745 | 749 | 838 | 1,596 |
Income From Discontinued Operations, Net of Income Taxes | 363 | 558 | 517 | 1,535 |
Net Income | 1,108 | 1,307 | 1,355 | 3,131 |
T&M [Member] | Operating Segments [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net Sales | 5,670 | 5,359 | 14,756 | 13,188 |
Segment Operating Profit | 912 | 1,252 | 1,803 | 2,393 |
QuickLabel [Member] | Operating Segments [Member] | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' |
Net Sales | 12,509 | 10,680 | 36,102 | 31,850 |
Segment Operating Profit | $1,494 | $1,136 | $3,962 | $3,140 |
Securities_Available_for_Sale_1
Securities Available for Sale - Additional Information (Detail) (USD $) | 9 Months Ended |
Nov. 02, 2013 | |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Short-term investment securities have original maturities greater than (days) | '90 days |
Impairment charges on available for sale security | $0 |
Maximum [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Anticipated maturity dates range | '33 months |
Minimum [Member] | ' |
Schedule of Held-to-maturity Securities [Line Items] | ' |
Anticipated maturity dates range | '1 month |
Securities_Available_for_Sale_2
Securities Available for Sale - Fair Value, Amortized Cost and Gross Unrealized Gains and Losses of the Securities (Detail) (State and Municipal Obligations [Member], USD $) | Nov. 02, 2013 | Jan. 31, 2013 |
In Thousands, unless otherwise specified | ||
State and Municipal Obligations [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $19,615 | $8,499 |
Gross Unrealized Gains | 39 | 10 |
Gross Unrealized Losses | ' | ' |
Fair Value | $19,654 | $8,509 |
Fair_Value_Assets_measured_at_
Fair Value - Assets measured at Fair Value on a Recurring Basis (Detail) (USD $) | Nov. 02, 2013 | Jan. 31, 2013 |
In Thousands, unless otherwise specified | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Money Market Funds (included in Cash and Cash Equivalents) | $7,557 | $8,784 |
State and Municipal Obligations (included in Securities Available for Sale) | 19,654 | 8,509 |
Total | 27,211 | 17,293 |
Level 1 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Money Market Funds (included in Cash and Cash Equivalents) | 7,557 | 8,784 |
State and Municipal Obligations (included in Securities Available for Sale) | 19,654 | 8,509 |
Total | 27,211 | 17,293 |
Level 2 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Money Market Funds (included in Cash and Cash Equivalents) | ' | ' |
State and Municipal Obligations (included in Securities Available for Sale) | ' | ' |
Total | ' | ' |
Level 3 [Member] | ' | ' |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ' | ' |
Money Market Funds (included in Cash and Cash Equivalents) | ' | ' |
State and Municipal Obligations (included in Securities Available for Sale) | ' | ' |
Total | ' | ' |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss) - Changes in the Balance of Accumulated Other Comprehensive Income (Loss) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 |
Schedule of Capitalization, Equity [Line Items] | ' | ' | ' | ' |
Balance at January 31, 2013 | ' | ' | $173 | ' |
Other Comprehensive Income (Loss) | ' | ' | -38 | ' |
Amounts reclassified to Net Income | ' | ' | ' | ' |
Net Other Comprehensive Income (Loss) | 151 | 183 | -38 | -75 |
Balance at November 2, 2013 | 135 | ' | 135 | ' |
Foreign Currency Translation Adjustments [Member] | ' | ' | ' | ' |
Schedule of Capitalization, Equity [Line Items] | ' | ' | ' | ' |
Balance at January 31, 2013 | ' | ' | 166 | ' |
Other Comprehensive Income (Loss) | ' | ' | -56 | ' |
Amounts reclassified to Net Income | ' | ' | ' | ' |
Net Other Comprehensive Income (Loss) | ' | ' | -56 | ' |
Balance at November 2, 2013 | 110 | ' | 110 | ' |
Unrealized Holding Gain on Available for Sale Securities [Member] | ' | ' | ' | ' |
Schedule of Capitalization, Equity [Line Items] | ' | ' | ' | ' |
Balance at January 31, 2013 | ' | ' | 7 | ' |
Other Comprehensive Income (Loss) | ' | ' | 18 | ' |
Amounts reclassified to Net Income | ' | ' | ' | ' |
Net Other Comprehensive Income (Loss) | ' | ' | 18 | ' |
Balance at November 2, 2013 | $25 | ' | $25 | ' |
Discontinued_Operations_Additi
Discontinued Operations - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 | Jan. 31, 2013 | |
Deferred Financing Costs [Line Items] | ' | ' | ' | ' | ' |
Proceeds from sale | ' | ' | ' | ' | $18,600,000 |
Cash reserve in escrow | ' | ' | ' | ' | 1,800,000 |
Period of cash reserved | ' | ' | '12 months | ' | ' |
Service agreement expiration date | ' | ' | 31-Jan-14 | ' | ' |
Agreement effective start date | ' | ' | 1-Feb-14 | ' | ' |
Term of agreement | ' | ' | '2 years | ' | ' |
Income tax expense (benefit) of discontinued operations | -89,000 | -2,000 | 333,000 | 928,000 | ' |
Expense included in income tax | ' | ' | 464,000 | 844,000 | ' |
Discontinued Operations [Member] | ' | ' | ' | ' | ' |
Deferred Financing Costs [Line Items] | ' | ' | ' | ' | ' |
Income tax benefit from favorable adjustment prior year tax return | 169,000 | ' | 169,000 | ' | ' |
Expense included in income tax | $80,000 | ' | $167,000 | ' | ' |
Discontinued_Operations_Summar
Discontinued Operations - Summary of Discontinued Operations (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Nov. 02, 2013 | Oct. 27, 2012 | Nov. 02, 2013 | Oct. 27, 2012 |
Discontinued Operations And Disposal Groups [Abstract] | ' | ' | ' | ' |
Net Sales | $2,485 | $4,523 | $6,201 | $13,520 |
Gross Profit | 290 | 2,354 | 668 | 6,969 |
Net Income from Discontinued Operations | $363 | $558 | $517 | $1,535 |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Detail) (USD $) | 9 Months Ended |
Nov. 02, 2013 | |
Commitments And Contingencies Disclosure [Abstract] | ' |
Estimated costs associated with the replacement program | $672,000 |
Other Accrued Expenses | $520,000 |