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Immaterial Error Corrections (Tables) | 12 Months Ended
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May 31, 2016
Accounting Changes and Error Corrections [Abstract] |
Schedule of Error Corrections and Prior Period Adjustments | 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 |
The data in the schedules above has been intentionally rounded to the nearest thousand and therefore the quarterly amounts may not sum to the full year amounts. We made adjustments to correct immaterial errors within this selected financial data. For a detailed explanation of these adjustments, please refer to Note R, "Immaterial Error Corrections".
| Three months ended February 29, 2016
| As previously reported |  | Adjustments |  | As revised
Net sales | $ | 87,384 |  |  | $ | 50 |  |  | $ | 87,434 |
Gross profit | 43,484 |  |  | 50 |  |  | 43,534 |
Sales and marketing | 20,301 |  |  | 654 |  |  | 20,955 |
General and administrative | 6,784 |  |  | 117 |  |  | 6,901 |
Total operating expenses | 40,797 |  |  | 771 |  |  | 41,568 |
Operating income | 2,687 |  |  | (721 | ) |  | 1,966 |
Other expense | (868 | ) |  | 654 |  |  | (214 | )
Total other income (expense) | (1,675 | ) |  | 654 |  |  | (1,021 | )
Income (loss) before taxes | 1,012 |  |  | (67 | ) |  | 945 |
Income tax (benefit) expense | 382 |  |  | (31 | ) |  | 351 |
Net income (loss) | 630 |  |  | (36 | ) |  | 594 |
| Nine months ended February 29, 2016
| As previously reported |  | Adjustments |  | As revised
Net sales | $ | 260,321 |  |  | $ | 150 |  |  | $ | 260,471 |
Cost of sales | 127,829 |  |  | (147 | ) |  | 127,682 |
Gross profit | 132,492 |  |  | 297 |  |  | 132,789 |
Research and development | 18,189 |  |  | (73 | ) |  | 18,116 |
Sales and marketing | 61,429 |  |  | 2,105 |  |  | 63,534 |
General and administrative | 22,300 |  |  | 597 |  |  | 22,897 |
Total operating expenses | 127,418 |  |  | 2,629 |  |  | 130,047 |
Other expense | (2,861 | ) |  | 2,291 |  |  | (570 | )
Total other income (expense) | (5,464 | ) |  | 2,291 |  |  | (3,173 | )
Income (loss) before taxes | (390 | ) |  | (41 | ) |  | (431 | )
Income tax (benefit) expense | 99 |  |  | (15 | ) |  | 84 |
Net income (loss) | (489 | ) |  | (26 | ) |  | (515 | )
| As of February 29, 2016
| As previously reported |  | Adjustments |  | As revised
Intangible Assets, net | $ | 168,080 |  |  | $ | (154 | ) |  | $ | 167,926 |
Deferred Income Taxes, long term | 19,563 |  |  | 255 |  |  | 19,818 |
Total Assets | 753,513 |  |  | 101 |  |  | 753,614 |
Other current liabilities | — |  |  | 50 |  |  | 50 |
Total current liabilities | 61,579 |  |  | 50 |  |  | 61,629 |
Total Liabilities | 202,768 |  |  | 50 |  |  | 202,818 |
Retained earnings | 27,744 |  |  | (684 | ) |  | 27,060 |
Accumulated other comprehensive loss | (1,790 | ) |  | 735 |  |  | (1,055 | )
Total Stockholders' Equity | 550,745 |  |  | 51 |  |  | 550,796 |
Total Liabilities and Stockholders' Equity | 753,513 |  |  | 101 |  |  | 753,614 |
| Nine months ended February 29, 2016
| As previously reported |  | Adjustments |  | As revised
Net cash provided by (used in) operating activities | $ | 26,672 |  |  | $ | — |  |  | $ | 26,672 |
Net cash provided by (used in) investing activities | (3,888 | ) |  | — |  |  | (3,888 | )
Net cash provided by (used in) financing activities | (19,167 | ) |  | — |  |  | (19,167 | )
| Three months ended November 30, 2015
| As previously reported |  | Adjustments |  | As revised
Net sales | $ | 89,234 |  |  | $ | 50 |  |  | $ | 89,284 |
Gross profit | 45,834 |  |  | 50 |  |  | 45,884 |
Sales and marketing | 20,569 |  |  | 809 |  |  | 21,378 |
General and administrative | 8,089 |  |  | (7 | ) |  | 8,082 |
Total operating expenses | 44,517 |  |  | 802 |  |  | 45,319 |
Operating income | 1,317 |  |  | (752 | ) |  | 565 |
Other expense | (1,048 | ) |  | 809 |  |  | (239 | )
Total other income (expense) | (2,045 | ) |  | 809 |  |  | (1,236 | )
Income (loss) before taxes | (728 | ) |  | 57 |  |  | (671 | )
Income tax (benefit) expense | (366 | ) |  | 29 |  |  | (337 | )
Net income (loss) | (362 | ) |  | 28 |  |  | (334 | )
| Six months ended November 30, 2015
| As previously reported |  | Adjustments |  | As revised
Net sales | $ | 172,937 |  |  | $ | 100 |  |  | $ | 173,037 |
Cost of sales | 83,929 |  |  | (147 | ) |  | 83,782 |
Gross profit | 89,008 |  |  | 247 |  |  | 89,255 |
Research and development | 12,381 |  |  | (73 | ) |  | 12,308 |
Sales and marketing | 41,128 |  |  | 1,450 |  |  | 42,578 |
General and administrative | 15,516 |  |  | 480 |  |  | 15,996 |
Total operating expenses | 86,621 |  |  | 1,857 |  |  | 88,478 |
Operating income | 2,387 |  |  | (1,610 | ) |  | 777 |
Other expense | (1,993 | ) |  | 1,636 |  |  | (357 | )
Total other income (expense) | (3,789 | ) |  | 1,636 |  |  | (2,153 | )
Income (loss) before taxes | (1,402 | ) |  | 26 |  |  | (1,376 | )
Income tax (benefit) expense | (283 | ) |  | 16 |  |  | (267 | )
Net income (loss) | (1,119 | ) |  | 10 |  |  | (1,109 | )
| As of November 30, 2015
| As previously reported |  | Adjustments |  | As revised
Intangible Assets, net | $ | 172,511 |  |  | $ | (154 | ) |  | $ | 172,357 |
Deferred Income Taxes, long term | 19,826 |  |  | 224 |  |  | 20,050 |
Total Assets | 760,371 |  |  | 70 |  |  | 760,441 |
Accrued liabilities | 16,975 |  |  | (117 | ) |  | 16,858 |
Other current liabilities | — |  |  | 100 |  |  | 100 |
Total current liabilities | 60,104 |  |  | (17 | ) |  | 60,087 |
Total Liabilities | 212,732 |  |  | (17 | ) |  | 212,715 |
Retained earnings | 27,114 |  |  | (648 | ) |  | 26,466 |
Accumulated other comprehensive loss | (1,922 | ) |  | 735 |  |  | (1,187 | )
Total Stockholders' Equity | 547,639 |  |  | 87 |  |  | 547,726 |
Total Liabilities and Stockholders' Equity | 760,371 |  |  | 70 |  |  | 760,441 |
| Six months ended November 30, 2015
| As previously reported |  | Adjustments |  | As revised
Net cash provided by (used in) operating activities | $ | 14,278 |  |  | $ | — |  |  | $ | 14,278 |
Net cash provided by (used in) investing activities | (1,143 | ) |  | — |  |  | (1,143 | )
Net cash provided by (used in) financing activities | (12,370 | ) |  | — |  |  | (12,370 | )
| Three months ended August 31, 2015
| As previously reported |  | Adjustments |  | As revised
Net sales | $ | 83,703 |  |  | $ | 50 |  |  | $ | 83,753 |
Cost of sales | 40,529 |  |  | (147 | ) |  | 40,382 |
Gross profit | 43,174 |  |  | 197 |  |  | 43,371 |
Research and development | 6,202 |  |  | (73 | ) |  | 6,129 |
Sales and marketing | 20,559 |  |  | 641 |  |  | 21,200 |
General and administrative | 7,427 |  |  | 487 |  |  | 7,914 |
Total operating expenses | 42,104 |  |  | 1,055 |  |  | 43,159 |
Operating income | 1,070 |  |  | (858 | ) |  | 212 |
Other expense | (945 | ) |  | 827 |  |  | (118 | )
Total other income (expense) | (1,744 | ) |  | 827 |  |  | (917 | )
Income (loss) before taxes | (674 | ) |  | (31 | ) |  | (705 | )
Income tax (benefit) expense | 83 |  |  | (13 | ) |  | 70 |
Net income (loss) | (757 | ) |  | (18 | ) |  | (775 | )
| As of August 31, 2015
| As previously reported |  | Adjustments |  | As revised
Other Assets | $ | 4,818 |  |  | $ | 110 |  |  | $ | 4,928 |
Intangible Assets, net | 177,399 |  |  | (154 | ) |  | 177,245 |
Deferred Income Taxes, long term | 19,436 |  |  | 253 |  |  | 19,689 |
Total Assets | 771,789 |  |  | 209 |  |  | 771,998 |
Other current liabilities | — |  |  | 150 |  |  | 150 |
Total current liabilities | 60,651 |  |  | 150 |  |  | 60,801 |
Total Liabilities | 224,666 |  |  | 150 |  |  | 224,816 |
Retained earnings | 27,476 |  |  | (676 | ) |  | 26,800 |
Accumulated other comprehensive loss | (1,615 | ) |  | 735 |  |  | (880 | )
Total Stockholders' Equity | 547,123 |  |  | 59 |  |  | 547,182 |
Total Liabilities and Stockholders' Equity | 771,789 |  |  | 209 |  |  | 771,998 |
| Three months ended August 31, 2015
| As previously reported |  | Adjustments |  | As revised
Net cash provided by (used in) operating activities | $ | 4,699 |  |  | $ | — |  |  | $ | 4,699 |
Net cash provided by (used in) investing activities | (743 | ) |  | — |  |  | (743 | )
Net cash provided by (used in) financing activities | (2,071 | ) |  | — |  |  | (2,071 | )
| Three months ended May 31, 2015
| As previously reported |  | Adjustments |  | As revised
Net sales | $ | 90,897 |  |  | $ | (200 | ) |  | $ | 90,697 |
Cost of sales | 45,340 |  |  | 26 |  |  | 45,366 |
Gross profit | 45,557 |  |  | (226 | ) |  | 45,331 |
Research and development | 7,289 |  |  | (738 | ) |  | 6,551 |
Sales and marketing | 20,218 |  |  | 933 |  |  | 21,151 |
General and administrative | 7,658 |  |  | (210 | ) |  | 7,448 |
Total operating expenses | 44,217 |  |  | (15 | ) |  | 44,202 |
Operating income | 1,340 |  |  | (211 | ) |  | 1,129 |
Other expense | (860 | ) |  | 630 |  |  | (230 | )
Total other income (expense) | (1,607 | ) |  | 630 |  |  | (977 | )
Income (loss) before taxes | (267 | ) |  | 419 |  |  | 152 |
Income tax (benefit) expense | 547 |  |  | 193 |  |  | 740 |
Net income (loss) | (814 | ) |  | 226 |  |  | (588 | )
| Three months ended February 28, 2015
| As previously reported |  | Adjustments |  | As revised
Cost of sales | $ | 48,746 |  |  | $ | 178 |  |  | $ | 48,924 |
Gross profit | 37,851 |  |  | (178 | ) |  | 37,673 |
Research and development | 6,855 |  |  | (277 | ) |  | 6,578 |
Sales and marketing | 19,355 |  |  | 444 |  |  | 19,799 |
General and administrative | 6,917 |  |  | (304 | ) |  | 6,613 |
Amortization of intangibles | 5,106 |  |  | 82 |  |  | 5,188 |
Change in fair value of contingent consideration | (10,044 | ) |  | 250 |  |  | (9,794 | )
Acquisition, restructuring and other items, net | 18,779 |  |  | (103 | ) |  | 18,676 |
Total operating expenses | 48,002 |  |  | 92 |  |  | 48,094 |
Operating income | (10,151 | ) |  | (270 | ) |  | (10,421 | )
Other expense | (971 | ) |  | 497 |  |  | (474 | )
Total other income (expense) | (1,828 | ) |  | 497 |  |  | (1,331 | )
Income (loss) before taxes | (11,979 | ) |  | 227 |  |  | (11,752 | )
Income tax (benefit) expense | (7,717 | ) |  | 118 |  |  | (7,599 | )
Net income (loss) | (4,262 | ) |  | 109 |  |  | (4,153 | )
| Nine months ended February 28, 2015
| As previously reported |  | Adjustments |  | As revised
Net sales | $ | 266,077 |  |  | $ | (240 | ) |  | $ | 265,837 |
Cost of sales | 134,745 |  |  | 627 |  |  | 135,372 |
Gross profit | 131,332 |  |  | (867 | ) |  | 130,465 |
Research and development | 19,642 |  |  | 401 |  |  | 20,043 |
Sales and marketing | 60,405 |  |  | 1,664 |  |  | 62,069 |
General and administrative | 22,213 |  |  | (499 | ) |  | 21,714 |
Amortization of intangibles | 13,182 |  |  | 54 |  |  | 13,236 |
Change in fair value of contingent consideration | (8,626 | ) |  | 100 |  |  | (8,526 | )
Acquisition, restructuring and other items, net | 23,745 |  |  | (343 | ) |  | 23,402 |
Total operating expenses | 133,666 |  |  | 1,377 |  |  | 135,043 |
Operating income | (2,334 | ) |  | (2,244 | ) |  | (4,578 | )
Other expense | (2,950 | ) |  | 1,693 |  |  | (1,257 | )
Total other income (expense) | (5,398 | ) |  | 1,693 |  |  | (3,705 | )
Income (loss) before taxes | (7,732 | ) |  | (551 | ) |  | (8,283 | )
Income tax (benefit) expense | (5,278 | ) |  | (205 | ) |  | (5,483 | )
Net income (loss) | (2,454 | ) |  | (346 | ) |  | (2,800 | )
| Three months ended February 28, 2015
| As previously reported |  | Adjustments |  | As revised
Net income (loss) | $ | (4,262 | ) |  | $ | 109 |  |  | $ | (4,153 | )
Foreign currency translation | (624 | ) |  | 37 |  |  | (587 | )
Other comprehensive income (loss), before tax | (508 | ) |  | 37 |  |  | (471 | )
Other comprehensive income (loss), net of tax | (551 | ) |  | 37 |  |  | (514 | )
Total comprehensive income (loss), net of tax | (4,813 | ) |  | 146 |  |  | (4,667 | )
| Nine months ended February 28, 2015
| As previously reported |  | Adjustments |  | As revised
Net income (loss) | $ | (2,454 | ) |  | $ | (346 | ) |  | $ | (2,800 | )
Foreign currency translation | (728 | ) |  | 110 |  |  | (618 | )
Other comprehensive income (loss), before tax | (568 | ) |  | 110 |  |  | (458 | )
Other comprehensive income (loss), net of tax | (627 | ) |  | 110 |  |  | (517 | )
Total comprehensive income (loss), net of tax | (3,081 | ) |  | (236 | ) |  | (3,317 | )
| As of February 28, 2015
| As previously reported |  | Adjustments |  | As revised
Inventories | $ | 68,710 |  |  | $ | 57 |  |  | $ | 68,767 |
Prepaid expenses and other | 4,859 |  |  | (221 | ) |  | 4,638 |
Total current assets | 154,654 |  |  | (164 | ) |  | 154,490 |
Property, Plant and Equipment, net | 58,295 |  |  | (80 | ) |  | 58,215 |
Other Assets | 4,060 |  |  | 224 |  |  | 4,284 |
Intangible Assets, net | 186,547 |  |  | (154 | ) |  | 186,393 |
Deferred Income Taxes, long term | 19,107 |  |  | 433 |  |  | 19,540 |
Total Assets | 783,136 |  |  | 259 |  |  | 783,395 |
Accounts payable | 21,696 |  |  | 278 |  |  | 21,974 |
Accrued liabilities | 19,946 |  |  | (461 | ) |  | 19,485 |
Total current liabilities | 59,687 |  |  | (183 | ) |  | 59,504 |
Other Long Term Liabilities | — |  |  | 628 |  |  | 628 |
Total Liabilities | 239,380 |  |  | 445 |  |  | 239,825 |
Retained earnings | 29,047 |  |  | (884 | ) |  | 28,163 |
Accumulated other comprehensive loss | (1,896 | ) |  | 698 |  |  | (1,198 | )
Total Stockholders' Equity | 543,756 |  |  | (186 | ) |  | 543,570 |
Total Liabilities and Stockholders' Equity | 783,136 |  |  | 259 |  |  | 783,395 |
| Nine months ended February 28, 2015
| As previously reported |  | Adjustments |  | As revised
Net cash provided by (used in) operating activities | $ | 15,436 |  |  | $ | (557 | ) |  | $ | 14,879 |
Net cash provided by (used in) investing activities | (12,042 | ) |  | 557 |  |  | (11,485 | )
Net cash provided by (used in) financing activities | 641 |  |  | — |  |  | 641 |
| Three months ended November 30, 2014
| As previously reported |  | Adjustments |  | As revised
Cost of sales | $ | 44,493 |  |  | $ | 828 |  |  | $ | 45,321 |
Gross profit | 47,656 |  |  | (828 | ) |  | 46,828 |
Research and development | 6,069 |  |  | 207 |  |  | 6,276 |
Sales and marketing | 20,983 |  |  | 553 |  |  | 21,536 |
General and administrative | 7,973 |  |  | (187 | ) |  | 7,786 |
Amortization of intangibles | 4,061 |  |  | (50 | ) |  | 4,011 |
Change in fair value of contingent consideration | 617 |  |  | (75 | ) |  | 542 |
Acquisition, restructuring and other items, net | 2,302 |  |  | (240 | ) |  | 2,062 |
Total operating expenses | 43,081 |  |  | 208 |  |  | 43,289 |
Operating income | 4,575 |  |  | (1,036 | ) |  | 3,539 |
Other expense | (954 | ) |  | 580 |  |  | (374 | )
Total other income (expense) | (1,746 | ) |  | 580 |  |  | (1,166 | )
Income (loss) before taxes | 2,829 |  |  | (456 | ) |  | 2,373 |
Income tax (benefit) expense | 1,491 |  |  | (187 | ) |  | 1,304 |
Net income (loss) | 1,338 |  |  | (269 | ) |  | 1,069 |
| Six months ended November 30, 2014
| As previously reported |  | Adjustments |  | As revised
Net sales | $ | 179,480 |  |  | $ | (240 | ) |  | $ | 179,240 |
Cost of sales | 85,999 |  |  | 449 |  |  | 86,448 |
Gross profit | 93,481 |  |  | (689 | ) |  | 92,792 |
Research and development | 12,787 |  |  | 678 |  |  | 13,465 |
Sales and marketing | 41,050 |  |  | 1,221 |  |  | 42,271 |
General and administrative | 15,296 |  |  | (195 | ) |  | 15,101 |
Amortization of intangibles | 8,076 |  |  | (28 | ) |  | 8,048 |
Change in fair value of contingent consideration | 1,418 |  |  | (150 | ) |  | 1,268 |
Acquisition, restructuring and other items, net | 4,966 |  |  | (240 | ) |  | 4,726 |
Total operating expenses | 85,664 |  |  | 1,285 |  |  | 86,949 |
Operating income | 7,817 |  |  | (1,974 | ) |  | 5,843 |
Other expense | (1,979 | ) |  | 1,196 |  |  | (783 | )
Total other income (expense) | (3,570 | ) |  | 1,196 |  |  | (2,374 | )
Income (loss) before taxes | 4,247 |  |  | (778 | ) |  | 3,469 |
Income tax (benefit) expense | 2,439 |  |  | (323 | ) |  | 2,116 |
Net income (loss) | 1,808 |  |  | (455 | ) |  | 1,353 |
| Three months ended November 30, 2014
| As previously reported |  | Adjustments |  | As revised
Net income (loss) | $ | 1,338 |  |  | $ | (269 | ) |  | $ | 1,069 |
Foreign currency translation | (104 | ) |  | 37 |  |  | (67 | )
Other comprehensive income (loss), before tax | (100 | ) |  | 37 |  |  | (63 | )
Other comprehensive income (loss), net of tax | (101 | ) |  | 37 |  |  | (64 | )
Total comprehensive income (loss), net of tax | 1,237 |  |  | (232 | ) |  | 1,005 |
| Six months ended November 30, 2014
| As previously reported |  | Adjustments |  | As revised
Net income (loss) | $ | 1,808 |  |  | $ | (455 | ) |  | $ | 1,353 |
Foreign currency translation | (104 | ) |  | 74 |  |  | (30 | )
Other comprehensive income (loss), before tax | (60 | ) |  | 74 |  |  | 14 |
Other comprehensive income (loss), net of tax | (76 | ) |  | 74 |  |  | (2 | )
Total comprehensive income (loss), net of tax | 1,732 |  |  | (381 | ) |  | 1,351 |
| As of November 30, 2014
| As previously reported |  | Adjustments |  | As revised
Inventories | $ | 75,315 |  |  | $ | 57 |  |  | $ | 75,372 |
Prepaid expenses and other | 6,753 |  |  | (191 | ) |  | 6,562 |
Total current assets | 159,355 |  |  | (134 | ) |  | 159,221 |
Property, Plant and Equipment, net | 67,552 |  |  | (829 | ) |  | 66,723 |
Other Assets | 2,741 |  |  | (15 | ) |  | 2,726 |
Intangible Assets, net | 197,362 |  |  | (175 | ) |  | 197,187 |
Deferred Income Taxes, long term | 11,327 |  |  | 551 |  |  | 11,878 |
Total Assets | 799,331 |  |  | (602 | ) |  | 798,729 |
Accrued liabilities | 19,177 |  |  | (588 | ) |  | 18,589 |
Current portion of contingent consideration | 9,795 |  |  | (250 | ) |  | 9,545 |
Total current liabilities | 57,937 |  |  | (838 | ) |  | 57,099 |
Other Long Term Liabilities | 124 |  |  | 568 |  |  | 692 |
Total Liabilities | 255,760 |  |  | (270 | ) |  | 255,490 |
Retained earnings | 33,309 |  |  | (993 | ) |  | 32,316 |
Accumulated other comprehensive loss | (1,345 | ) |  | 662 |  |  | (683 | )
Total Stockholders' Equity | 543,571 |  |  | (332 | ) |  | 543,239 |
Total Liabilities and Stockholders' Equity | 799,331 |  |  | (602 | ) |  | 798,729 |
| Six months ended November 30, 2014
| As previously reported |  | Adjustments |  | As revised
Net cash provided by (used in) operating activities | $ | 3,205 |  |  | $ | (557 | ) |  | 2,648 |
Net cash provided by (used in) investing activities | (7,773 | ) |  | 557 |  |  | (7,216 | )
Net cash provided by (used in) financing activities | 3,381 |  |  | — |  |  | 3,381 |
| Three months ended August 31, 2014
| As previously reported |  | Adjustments |  | As revised
Net sales | $ | 87,331 |  |  | $ | (240 | ) |  | $ | 87,091 |
Cost of sales | 41,506 |  |  | (379 | ) |  | 41,127 |
Gross profit | 45,825 |  |  | 139 |  |  | 45,964 |
Research and development | 6,718 |  |  | 470 |  |  | 7,188 |
Sales and marketing | 20,067 |  |  | 668 |  |  | 20,735 |
General and administrative | 7,323 |  |  | (8 | ) |  | 7,315 |
Amortization of intangibles | 4,015 |  |  | 22 |  |  | 4,037 |
Change in fair value of contingent consideration | 801 |  |  | (75 | ) |  | 726 |
Total operating expenses | 42,583 |  |  | 1,077 |  |  | 43,660 |
Operating income | 3,242 |  |  | (938 | ) |  | 2,304 |
Other expense | (1,025 | ) |  | 616 |  |  | (409 | )
Total other income (expense) | (1,824 | ) |  | 616 |  |  | (1,208 | )
Income (loss) before taxes | 1,418 |  |  | (322 | ) |  | 1,096 |
Income tax (benefit) expense | 948 |  |  | (136 | ) |  | 812 |
Net income (loss) | 470 |  |  | (186 | ) |  | 284 |
| Three months ended August 31, 2014
| As previously reported |  | Adjustments |  | As revised
Net income (loss) | $ | 470 |  |  | $ | (186 | ) |  | $ | 284 |
Foreign currency translation | — |  |  | 37 |  |  | 37 |
Other comprehensive income (loss), before tax | 41 |  |  | 37 |  |  | 78 |
Other comprehensive income (loss), net of tax | 26 |  |  | 37 |  |  | 63 |
Total comprehensive income (loss), net of tax | 496 |  |  | (149 | ) |  | 347 |
| As of August 30, 2014
| As previously reported |  | Adjustments |  | As revised
Inventories | $ | 70,421 |  |  | $ | 885 |  |  | $ | 71,306 |
Prepaid expenses and other | 6,777 |  |  | (311 | ) |  | 6,466 |
Total current assets | 150,638 |  |  | 574 |  |  | 151,212 |
Property, Plant and Equipment, net | 66,794 |  |  | (605 | ) |  | 66,189 |
Other Assets | 3,345 |  |  | (53 | ) |  | 3,292 |
Intangible Assets, net | 201,440 |  |  | (225 | ) |  | 201,215 |
Deferred Income Taxes, long term | 12,903 |  |  | 364 |  |  | 13,267 |
Total Assets | 796,114 |  |  | 55 |  |  | 796,169 |
Accrued liabilities | 17,700 |  |  | (178 | ) |  | 17,522 |
Current portion of contingent consideration | 10,897 |  |  | (175 | ) |  | 10,722 |
Total current liabilities | 63,707 |  |  | (353 | ) |  | 63,354 |
Other Long Term Liabilities | 32 |  |  | 507 |  |  | 539 |
Total Liabilities | 256,430 |  |  | 154 |  |  | 256,584 |
Retained earnings | 31,971 |  |  | (724 | ) |  | 31,247 |
Accumulated other comprehensive loss | (1,243 | ) |  | 625 |  |  | (618 | )
Total Stockholders' Equity | 539,684 |  |  | (99 | ) |  | 539,585 |
Total Liabilities and Stockholders' Equity | 796,114 |  |  | 55 |  |  | 796,169 |
| Three months ended August 30, 2014
| As previously reported |  | Adjustments |  | As revised
Net cash provided by (used in) operating activities | $ | 5,352 |  |  | $ | (410 | ) |  | $ | 4,942 |
Net cash provided by (used in) investing activities | (5,258 | ) |  | 410 |  |  | (4,848 | )
Net cash provided by (used in) financing activities | (2,391 | ) |  | — |  |  | (2,391 | )

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