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Immaterial Error Corrections | 12 Months Ended
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May 31, 2016
Accounting Changes and Error Corrections [Abstract] |
Immaterial Error Corrections | IMMATERIAL ERROR CORRECTIONS During the financial closing process for the fourth quarter of fiscal year 2016, the Company determined that certain consolidated financial statement amounts were not accounted for correctly in prior periods. The Company has evaluated these errors together with errors identified in prior periods and concluded that they were not material individually or in the aggregate to any of its previously issued annual and interim financial statements. However, the financial statements included herein have been revised to correct for the impact of these items. The Company has corrected the relevant financial information from previous reporting periods contained in these financial statements. The immaterial error corrections identified were primarily related to a misclassification of credit card fees from Other Expense to Sales and Marketing (refer to the tables below for the impact in each period), intercompany foreign exchange losses (cumulative impact of approximately $0.7 million), research and development expenses (cumulative impact of approximately $0.4 million), lease expense (cumulative impact of approximately $0.3 million) and other individually immaterial items. The impacts of these revisions are shown in the tables below:
| Year ended May 31, 2015
| As previously reported |  | Adjustments |  | As revised
Net sales | $ | 356,974 |  |  | $ | (440 | ) |  | $ | 356,534 |
Cost of sales | 180,085 |  |  | 653 |  |  | 180,738 |
Gross profit | 176,889 |  |  | (1,093 | ) |  | 175,796 |
Research and development | 26,931 |  |  | (337 | ) |  | 26,594 |
Sales and marketing | 80,623 |  |  | 2,597 |  |  | 83,220 |
General and administrative | 29,871 |  |  | (709 | ) |  | 29,162 |
Amortization of intangibles | 17,912 |  |  | 54 |  |  | 17,966 |
Change in fair value of contingent consideration | (8,196 | ) |  | 100 |  |  | (8,096 | )
Acquisition, restructuring and other items, net | 26,600 |  |  | (343 | ) |  | 26,257 |
Total operating expenses | 177,883 |  |  | 1,362 |  |  | 179,245 |
Operating income | (994 | ) |  | (2,455 | ) |  | (3,449 | )
Other expense | (3,812 | ) |  | 2,323 |  |  | (1,489 | )
Total other income (expense) | (7,005 | ) |  | 2,323 |  |  | (4,682 | )
Income (loss) before taxes | (7,999 | ) |  | (132 | ) |  | (8,131 | )
Income tax (benefit) expense | (4,731 | ) |  | (12 | ) |  | (4,743 | )
Net income (loss) | (3,268 | ) |  | (120 | ) |  | (3,388 | )
| Year ended May 31, 2015
| As previously reported |  | Adjustments |  | As revised
Net income (loss) | $ | (3,268 | ) |  | $ | (120 | ) |  | $ | (3,388 | )
Foreign currency translation | (411 | ) |  | 147 |  |  | (264 | )
Other comprehensive income (loss), before tax | (235 | ) |  | 147 |  |  | (88 | )
Other comprehensive income (loss), net of tax | (299 | ) |  | 147 |  |  | (152 | )
Total comprehensive income (loss), net of tax | (3,567 | ) |  | 27 |  |  | (3,540 | )
| As of May 31, 2015
| As previously reported |  | Adjustments |  | As revised
Prepaid expenses and other | $ | 4,783 |  |  | $ | (651 | ) |  | $ | 4,132 |
Total current assets | 151,449 |  |  | (651 | ) |  | 150,798 |
Property, Plant and Equipment, net | 54,560 |  |  | (110 | ) |  | 54,450 |
Other Assets | 5,288 |  |  | 110 |  |  | 5,398 |
Intangible Assets, net | 181,806 |  |  | (154 | ) |  | 181,652 |
Deferred Income Taxes, long term | 19,268 |  |  | 240 |  |  | 19,508 |
Total Assets | 773,623 |  |  | (565 | ) |  | 773,058 |
Accounts payable | 23,668 |  |  | (620 | ) |  | 23,048 |
Accrued liabilities | 18,331 |  |  | (222 | ) |  | 18,109 |
Other current liabilities | — |  |  | 200 |  |  | 200 |
Total current liabilities | 61,157 |  |  | (642 | ) |  | 60,515 |
Total Liabilities | 228,601 |  |  | (642 | ) |  | 227,959 |
Retained earnings | 28,233 |  |  | (658 | ) |  | 27,575 |
Accumulated other comprehensive loss | (1,568 | ) |  | 735 |  |  | (833 | )
Total Stockholders' Equity | 545,022 |  |  | 77 |  |  | 545,099 |
Total Liabilities and Stockholders' Equity | 773,623 |  |  | (565 | ) |  | 773,058 |
| Year ended May 31, 2015
| As previously reported |  | Adjustments |  | As revised
Net cash provided by (used in) operating activities | $ | 26,242 |  |  | $ | (557 | ) |  | $ | 25,685 |
Net cash provided by (used in) investing activities | (13,293 | ) |  | 557 |  |  | (12,736 | )
Net cash provided by (used in) financing activities | (10,465 | ) |  | — |  |  | (10,465 | )
| Year ended May 31, 2014
| As previously reported |  | Adjustments |  | As revised
Cost of sales | $ | 174,757 |  |  | $ | (506 | ) |  | $ | 174,251 |
Gross profit | 179,668 |  |  | 506 |  |  | 180,174 |
Research and development | 27,486 |  |  | 638 |  |  | 28,124 |
Sales and marketing | 83,200 |  |  | 2,105 |  |  | 85,305 |
General and administrative | 26,639 |  |  | 263 |  |  | 26,902 |
Amortization of intangibles | 16,622 |  |  | (60 | ) |  | 16,562 |
Change in fair value of contingent consideration | (1,808 | ) |  | (100 | ) |  | (1,908 | )
Acquisition, restructuring and other items, net | 10,760 |  |  | 113 |  |  | 10,873 |
Total operating expenses | 166,728 |  |  | 2,959 |  |  | 169,687 |
Operating income | 12,940 |  |  | (2,453 | ) |  | 10,487 |
Other expense | (3,544 | ) |  | 1,899 |  |  | (1,645 | )
Total other income (expense) | (7,200 | ) |  | 1,899 |  |  | (5,301 | )
Income (loss) before taxes | 5,740 |  |  | (554 | ) |  | 5,186 |
Income tax (benefit) expense | 3,074 |  |  | (235 | ) |  | 2,839 |
Net income (loss) | 2,666 |  |  | (319 | ) |  | 2,347 |
| Year ended May 31, 2014
| As previously reported |  | Adjustments |  | As revised
Net income (loss) | $ | 2,666 |  |  | $ | (319 | ) |  | $ | 2,347 |
Foreign currency translation | 295 |  |  | 147 |  |  | 442 |
Other comprehensive income (loss), before tax | 247 |  |  | 147 |  |  | 394 |
Other comprehensive income (loss), net of tax | 265 |  |  | 147 |  |  | 412 |
Total comprehensive income (loss), net of tax | 2,931 |  |  | (172 | ) |  | 2,759 |
| As of May 31, 2014
| As previously reported |  | Adjustments |  | As revised
Inventories | $ | 61,234 |  |  | $ | 506 |  |  | $ | 61,740 |
Prepaid expenses and other | 5,471 |  |  | (591 | ) |  | 4,880 |
Total current assets | 147,097 |  |  | (85 | ) |  | 147,012 |
Property, Plant and Equipment, net | 66,590 |  |  | (135 | ) |  | 66,455 |
Other Assets | 3,926 |  |  | (120 | ) |  | 3,806 |
Intangible Assets, net | 205,256 |  |  | (203 | ) |  | 205,053 |
Deferred Income Taxes, long term | 15,028 |  |  | 228 |  |  | 15,256 |
Total Assets | 798,891 |  |  | (315 | ) |  | 798,576 |
Accrued liabilities | 16,652 |  |  | (712 | ) |  | 15,940 |
Current portion of contingent consideration | 10,918 |  |  | (100 | ) |  | 10,818 |
Other current liabilities | 599 |  |  | — |  |  | 599 |
Total current liabilities | 66,753 |  |  | (812 | ) |  | 65,941 |
Other Long Term Liabilities | 84 |  |  | 447 |  |  | 531 |
Total Liabilities | 262,056 |  |  | (365 | ) |  | 261,691 |
Retained earnings | 31,501 |  |  | (538 | ) |  | 30,963 |
Accumulated other comprehensive loss | (1,269 | ) |  | 588 |  |  | (681 | )
Total Stockholders' Equity | 536,835 |  |  | 50 |  |  | 536,885 |
Total Liabilities and Stockholders' Equity | 798,891 |  |  | (315 | ) |  | 798,576 |
| Year ended May 31, 2014
| As previously reported |  | Adjustments |  | As revised
Net cash provided by (used in) operating activities | $ | 24,681 |  |  | $ | — |  |  | $ | 24,681 |
Net cash provided by (used in) investing activities | (16,448 | ) |  | — |  |  | (16,448 | )
Net cash provided by (used in) financing activities | (14,016 | ) |  | — |  |  | (14,016 | )
| Year ended May 31, 2013
| As previously reported |  | Adjustments |  | As revised
Research and development | $ | 26,319 |  |  | $ | (228 | ) |  | $ | 26,091 |
Sales and marketing | 76,121 |  |  | 1,443 |  |  | 77,564 |
General and administrative | 26,186 |  |  | (151 | ) |  | 26,035 |
Amortization of intangibles | 16,617 |  |  | (18 | ) |  | 16,599 |
Total operating expenses | 162,226 |  |  | 1,046 |  |  | 163,272 |
Operating income | 6,288 |  |  | (1,046 | ) |  | 5,242 |
Other expense | (2,707 | ) |  | 1,296 |  |  | (1,411 | )
Total other income (expense) | (7,875 | ) |  | 1,296 |  |  | (6,579 | )
Income (loss) before taxes | (1,587 | ) |  | 250 |  |  | (1,337 | )
Income tax (benefit) expense | (376 | ) |  | 90 |  |  | (286 | )
Net income (loss) | (1,211 | ) |  | 160 |  |  | (1,051 | )
| As of May 31, 2013
| As previously reported |  | Adjustments |  | As revised
Property, Plant and Equipment, net | $ | 62,391 |  |  | $ | (16 | ) |  | $ | 62,375 |
Intangible Assets, net | 214,673 |  |  | (150 | ) |  | 214,523 |
Deferred Income Taxes, long term | 18,016 |  |  | (7 | ) |  | 18,009 |
Total Assets | 790,734 |  |  | (173 | ) |  | 790,561 |
Accrued liabilities | 16,356 |  |  | (395 | ) |  | 15,961 |
Total current liabilities | 63,315 |  |  | (395 | ) |  | 62,920 |
Total Liabilities | 264,632 |  |  | (395 | ) |  | 264,237 |
Retained earnings | 28,835 |  |  | (219 | ) |  | 28,616 |
Accumulated other comprehensive loss | (1,534 | ) |  | 441 |  |  | (1,093 | )
Total Stockholders' Equity | 526,102 |  |  | 222 |  |  | 526,324 |
Total Liabilities and Stockholders' Equity | 790,734 |  |  | (173 | ) |  | 790,561 |
| Year ended May 31, 2012
| As previously reported |  | Adjustments |  | As revised
Sales and marketing | $ | 64,505 |  |  | $ | 1,252 |  |  | $ | 65,757 |
Amortization of intangibles | 9,309 |  |  | 84 |  |  | 9,393 |
Total operating expenses | 129,217 |  |  | 1,336 |  |  | 130,553 |
Operating income | (3,908 | ) |  | (1,336 | ) |  | (5,244 | )
Other expense | (2,096 | ) |  | 1,105 |  |  | (991 | )
Total other income (expense) | (1,514 | ) |  | 1,105 |  |  | (409 | )
Income (loss) before taxes | (5,422 | ) |  | (231 | ) |  | (5,653 | )
Income tax (benefit) expense | (239 | ) |  | (83 | ) |  | (322 | )
Net income (loss) | (5,183 | ) |  | (148 | ) |  | (5,331 | )
| As of May 31, 2012
| As previously reported |  | Adjustments |  | As revised
Intangible Assets, net | $ | 147,363 |  |  | $ | (168 | ) |  | $ | 147,195 |
Deferred Income Taxes, long term | 44,194 |  |  | 83 |  |  | 44,277 |
Total Assets | 719,988 |  |  | (85 | ) |  | 719,903 |
Retained earnings | 30,046 |  |  | (379 | ) |  | 29,667 |
Accumulated other comprehensive loss | (1,274 | ) |  | 294 |  |  | (980 | )
Total Stockholders' Equity | 523,391 |  |  | (85 | ) |  | 523,306 |
Total Liabilities and Stockholders' Equity | 719,988 |  |  | (85 | ) |  | 719,903 |

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- Definition The entire disclosure for reporting accounting changes and error corrections. It includes the conveyance of information necessary for a user of the Company's financial information to understand all aspects and required disclosure information concerning all changes and error corrections reported in the Company's financial statements for the period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SAB Topic 6.G.2.b(b)(1)) -URI http://asc.fasb.org/extlink&oid=26874127&loc=d3e31034-122693 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22644-107794 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 45 -Paragraph 23 -URI http://asc.fasb.org/extlink&oid=6368906&loc=d3e21914-107793 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22595-107794 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64853466&loc=d3e22499-107794 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 1.N.Q3) -URI http://asc.fasb.org/extlink&oid=26874127&loc=d3e30840-122693 + Details
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