v3.25.2
Segment Reporting
 6 Months Ended
Aug. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting

20. Segment Reporting

 

The Company’s Chief Operating Decision Maker ("CODM") is its Chairman, President, and Chief Executive Office. The CODM evaluates performance and allocates resources on a consolidated basis using consolidated net income, earnings releases, investor presentations, and the Company’s SEC filings, as well as through the approval of the Company’s annual budget and forecast.

The single operating segment is also the Company's single reportable segment called “Print” and derives its operating revenues from the manufacturing of mostly custom or semi-custom printed products sold mostly to independent distributors in the United

States. Independent distributors are responsible for selling the printed product to the end consumer. The single reportable segment derives its revenues by manufacturing print products at the Company's printing plants dispersed throughout the United States.

The accounting policies of this single reportable segment are the same as those described in the summary of significant accounting policies to the condensed consolidated financial statements.

The CODM assesses the performance of this reportable segment using the entity-wide revenue and expense information reported on the Statement of Operations and the more detailed expense categories disclosed in the table below. The primary measure of segment profit (loss) is consolidated net income (loss) as reported on the Condensed Consolidated Statement of Operations. In addition, segment assets reviewed by the CODM are reported on the Company’s Condensed Consolidated Balance Sheets as total assets.

 

 

 

Three months ended
August 31,

 

 

Six months ended
August 31,

 

(Dollars in thousands)

2025

 

 

2024

 

 

2025

 

 

2024

 

Segment operating net sales

$

98,676

 

 

$

99,038

 

 

$

195,872

 

 

$

202,146

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment operating expenses

 

 

 

 

 

 

 

 

 

 

 

Product purchases

 

32,519

 

 

 

31,954

 

 

 

62,738

 

 

 

64,380

 

Compensation expense

 

21,067

 

 

 

20,723

 

 

 

42,670

 

 

 

42,461

 

Product supplies

 

5,825

 

 

 

6,341

 

 

 

11,931

 

 

 

12,869

 

Manufacturing depreciation

 

2,152

 

 

 

2,108

 

 

 

4,262

 

 

 

4,265

 

Other product cost (1)

 

7,011

 

 

 

8,133

 

 

 

13,940

 

 

 

17,488

 

Segment cost of goods sold

 

68,574

 

 

 

69,259

 

 

 

135,541

 

 

 

141,463

 

 

 

 

 

 

 

 

 

 

 

 

 

Segment SG&A expenses

 

 

 

 

 

 

 

 

 

 

 

Compensation expense

 

11,786

 

 

 

10,922

 

 

 

23,371

 

 

 

22,291

 

Depreciation expense

 

128

 

 

 

144

 

 

 

257

 

 

 

301

 

Amortization expense

 

2,029

 

 

 

1,934

 

 

 

3,973

 

 

 

3,864

 

Other expense (2)

 

3,776

 

 

 

3,557

 

 

 

7,064

 

 

 

7,271

 

Segment SG&A expenses

 

17,719

 

 

 

16,557

 

 

 

34,665

 

 

 

33,727

 

 

 

 

 

 

 

 

 

 

 

 

 

Other segment items

 

 

 

 

 

 

 

 

 

 

 

Loss from disposal of assets

 

—

 

 

 

39

 

 

 

—

 

 

 

43

 

Interest (income)

 

(777

)

 

 

(1,369

)

 

 

(1,328

)

 

 

(2,728

)

Other (income) expense

 

(4,984

)

 

 

335

 

 

 

(4,665

)

 

 

683

 

Income tax expense

 

4,989

 

 

 

3,909

 

 

 

8,706

 

 

 

7,963

 

Consolidated net earnings

$

13,155

 

 

$

10,308

 

 

$

22,953

 

 

$

20,995

 

 

(1) Other product cost includes manufacturing overhead and freight expenses.

(2) SG&A, other expense includes professional services and utility services not included in the manufacturing process.