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Shareholders' Equity
 12 Months Ended
Mar. 03, 2012
Shareholders' Equity [Abstract]  
Shareholders' Equity

10 Shareholders' Equity

A class of 200,000 shares of junior preferred stock with a par value of $1.00 is authorized, but unissued.

Share Repurchases

During fiscal 2004, the Board of Directors authorized a share repurchase program of 1,500,000 shares of common stock. The Board of Directors increased this authorization by 750,000 shares in January 2008 and by 1,000,000 in October 2008. The Company repurchased 275,000 shares in the open market during fiscal 2012 for $2.4 million. No share repurchases were made under the plan during fiscal 2011 or 2010. The Company has purchased a total of 2,279,123 shares, at a total cost of $29.7 million, since the inception of this program and has remaining authority to repurchase 970,877 shares under this program, which has no expiration date.

In addition to the shares repurchased according to this repurchase plan, the Company also purchased $1.3 million, $1.7 million and $1.5 million of Company stock from employees in order to satisfy stock-for-stock option exercises or withholding tax obligations related to stock-based compensation, pursuant to terms of board and shareholder approved compensation plans during fiscal 2012, 2011 and 2010, respectively.

 

Accumulated Other Comprehensive Loss

The following table summarizes the accumulated other comprehensive loss, net of tax at March 3, 2012 and February 26, 2011.

 

                 

(In thousands)

    2012     2011  

Net unrealized loss on marketable securities

    $ (46 )    $ (31 ) 

Pension liability adjustments

      (2,761 )      (1,430 ) 

Foreign currency translation adjustments

      (1,953 )      576   
    

 

 

    

 

 

  

Total accumulated other comprehensive loss

    $ (4,760 )    $ (885 )