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Document and Entity Information Document - shares	9 Months Ended
Document and Entity Information Document - shares	Nov. 30, 2011	Jan. 09, 2012
Entity Information [Line Items]
Entity Registrant Name	VOXX INTERNATIONAL CORPORATION
Entity Central Index Key	0000807707
Current Fiscal Year End Date	--02-28
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Nov. 30, 2011
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		23,074,659

Balance Sheets - USD ($) $ in Thousands	Nov. 30, 2011	Feb. 28, 2011
Current assets:
Cash and cash equivalents	$ 18,836	$ 98,630
Accounts receivable, net	163,476	108,048
Inventory, net	147,785	113,620
Receivables from vendors	4,222	8,382
Prepaid expenses and other current assets	8,967	9,382
Deferred income taxes	2,338	2,768
Total current assets	345,624	340,830
Investment securities	13,027	13,500
Equity investments	14,730	12,764
Property, plant and equipment, net	23,199	19,563
Goodwill	87,366	7,373
Intangible Assets, net	177,327	99,189
Deferred income taxes	11	6,244
Other assets	3,718	1,634
Total assets	665,002	501,097
Current liabilities:
Accounts payable	58,799	27,341
Accrued expenses and other current liabilities	54,004	36,500
Income taxes payable	4,990	1,610
Accrued Sales Incentives	21,226	11,981
Deferred income taxes	388	399
Current portion of long-term debt	4,293	4,471
Total current liabilities	143,700	82,302
Long-term debt	67,659	5,895
Capital lease obligation	5,235	5,348
Deferred compensation	3,224	3,554
Other tax liabilities	1,788	1,788
Deferred tax liabilities	30,931	4,919
Other long-term liabilities	4,459	4,345
Total liabilities	256,996	108,151
Commitments and contingencies
Stockholders' equity:
Series preferred stock, $.01 par value; 1,500,000 shares authorized, no shares issued or outstanding	0	0
Common stock:
Paid-in capital	278,625	277,896
Retained earnings	151,810	137,027
Accumulated other comprehensive (loss)	(4,301)	(3,849)
Treasury stock, at cost, 1,817,132 shares of Class A common stock at November 30, 2011 and 1,817,832 shares of Class A common stock at February 28, 2011	(18,376)	(18,376)
Total stockholders' equity	408,006	392,946
Total liabilities and stockholders' equity	665,002	501,097
Common Class A [Member]
Common stock:
Common Stock	226	226
Common Class B [Member]
Common stock:
Common Stock	$ 22	$ 22

Balance Sheet Parentheticals - $ / shares	Nov. 30, 2011	Feb. 28, 2011
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	1,500,000	1,500,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common Class A [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	60,000,000	60,000,000
Common stock, shares issued	22,630,837	22,630,837
Common stock, shares outstanding	20,813,705	20,813,005
Treasury stock, shares	1,817,132	1,817,832
Common Class B [Member]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	10,000,000	10,000,000
Common stock, shares issued	2,260,954	2,260,954
Common stock, shares outstanding	2,260,954	2,260,954

Statement of Operations - USD ($) $ in Thousands	3 Months Ended	9 Months Ended		15 Months Ended
Statement of Operations - USD ($) $ in Thousands	Nov. 30, 2011	Nov. 30, 2011	Nov. 30, 2010	Nov. 30, 2011
Net sales	$ 206,803	$ 530,465	$ 422,778	$ 163,167
Cost of sales	146,960	383,072	333,650	128,570
Gross profit	59,843	147,393	89,128	34,597
Operating expenses:
Selling	12,620	35,723	25,951	9,498
General and administrative	24,740	68,159	50,034	16,674
Engineering and technical support	4,021	11,839	9,052	3,023
Acquisition-related costs	25	1,607	0	0
Total operating expenses	41,406	117,328	85,037	29,195
Operating income (loss)	18,437	30,065	4,091	5,402
Other (expense) income:
Interest and bank charges	1,371	4,246	1,392	471
Equity in income of equity investees	1,236	3,255	2,348	600
Other, net	(3,308)	(4,054)	2,363	363
Total other (expense) income, net	(3,443)	(5,045)	3,319	492
Income before income taxes	14,994	25,020	7,410	5,894
Income tax expense	6,136	10,237	1,786	2,035
Net income	$ 8,858	$ 14,783	$ 5,624	$ 3,859
Net income per common share (basic)	$ 0.38	$ 0.64	$ 0.25	$ 0.17
Net income per common share (diluted)	$ 0.38	$ 0.64	$ 0.24	$ 0.17
Weighted-average common shares outstanding (basic)	23,074,030	23,073,983	22,904,746	22,934,211
Weighted-average common shares outstanding (diluted)	23,074,030	23,203,504	23,057,969	23,098,948

Statement of Cash Flows - USD ($) $ in Thousands	9 Months Ended
Statement of Cash Flows - USD ($) $ in Thousands	Nov. 30, 2011	Nov. 30, 2010
Cash flows from operating activities:
Net income	$ 14,783	$ 5,624
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	7,936	5,899
Bad debt expense	1,323	447
Equity in income of equity investees	(3,255)	(2,348)
Distribution of income from equity investees	1,288	694
Deferred income tax expense	2,257	2
Non-cash compensation adjustment	121	519
Non-cash stock based compensation expense	436	1,284
Loss on sale of property, plant and equipment	16	14
Impairment loss on marketable securities	1,225	182
Changes in operating assets and liabilities (net of assets and liabilities acquired):
Accounts receivable	(29,850)	(1,522)
Inventory	(5,203)	(31,783)
Receivables from vendors	4,159	3,128
Prepaid expenses and other	(630)	4,987
Investment securities-trading	395	(627)
Accounts payable, accrued expenses, accrued sales incentives and other current liabilities	29,293	6,174
Income taxes payable	3,444	2,323
Net cash provided by (used in) operating activities	27,738	(5,003)
Cash flows from investing activities:
Purchases of property, plant and equipment	(2,155)	(2,506)
Purchase of short-term investments	0	(27,023)
Sale of short-term investments	0	3,032
Purchase of long term investments	0	(200)
Proceeds from sale of long-term investments	0	4,368
Repayment of notes receivable	175	139
Purchase of acquired business	(167,271)	(172)
Net cash used in investing activities	(169,251)	(22,362)
Cash flows from financing activities:
Repayment of short-term debt	(660)	(3,593)
Principal payments on capital lease obligation	(66)	(158)
Repayment of bank obligations	(27,225)	(1,401)
Borrowings on bank obligations	89,702	558
Proceeds from exercise of stock options	0	499
Net cash provided by (used in) financing activities	61,751	(4,095)
Effect of exchange rate changes on cash	(32)	(228)
Net decrease in cash and cash equivalents	(79,794)	(31,688)
Cash and cash equivalents at beginning of period	98,630	69,511
Cash and cash equivalents at end of period	$ 18,836	$ 37,823

Note 1. Basis of Presntation Level 1 (Notes)	9 Months Ended
Note 1. Basis of Presntation Level 1 (Notes)	Nov. 30, 2011
Basis of Presentation [Abstract]
Basis of Presentation and Significant Accounting Policies [Text Block]	Basis of Presentation The accompanying unaudited interim consolidated financial statements of VOXX International Corporation and subsidiaries (“Voxx” or the “Company”), formerly Audiovox Corporation, have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission and in accordance with accounting principles generally accepted in the United States of America and include all adjustments (consisting of normal recurring adjustments), which, in the opinion of management, are necessary to present fairly the consolidated financial position, results of operations and cash flows for all periods presented. The results of operations are not necessarily indicative of the results to be expected for the full fiscal year or any interim period. These consolidated financial statements do not include all disclosures associated with consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America. Accordingly, these statements should be read in conjunction with the Company's audited consolidated financial statements and notes thereto contained in the Company's Form 10-K for the fiscal year ended February 28, 2011. We have determined that we operate in one reportable segment, the Electronics Group, based on review of ASC 280 “Segment Reporting”.

Note 2. Acquisitions Level 1 (Notes)

9 Months Ended

Nov. 30, 2011

Acquisitions [Abstract]

Business Combination Disclosure [Text Block]

Acquisitions

Klipsch

On March 1, 2011, Soundtech LLC, a Delaware limited liability company and wholly-owned subsidiary of Voxx, acquired all of the issued and outstanding shares of Klipsch Group, Inc. and its worldwide subsidiaries (“Klipsch”) for a total purchase price of $169.6 million, consisting of cash paid at closing of $167.4 million, including a working capital adjustment, and contingent consideration of $2.2 million as a result of a contractual arrangement with a former principal shareholder, plus related transaction fees and expenses. Klipsch is a global provider of high-end speakers for audio, multi-media and home theater applications. The acquisition of Klipsch adds world-class brand names to Audiovox's offerings, increases its distribution network, both domestically and abroad, and provides the Company with entry into the high-end installation market at both the residential and commercial level. In addition to the Klipsch® brand, the Klipsch portfolio includes the brands Jamo®, Mirage®, and Energy®.

In connection with the acquisition, the Company entered into a $175 million credit agreement with Wells Fargo Capital Finance, LLC to fund a portion of the acquisition and future working capital needs, as applicable. At closing, approximately $89 million of the cash paid was borrowed under the Credit Agreement to fund the balance of the purchase price.

As the Klipsch acquisition occurred on March 1, 2011, the consolidated financial statements presented for the three and nine months ended November 30, 2011 included the operations of Klipsch.

The Company is currently performing a formal valuation of the acquisition including an analysis of purchase price adjustments and a review of the assets and liabilities acquired to determine appropriate fair values. Management has estimated the fair value of tangible assets acquired and liabilities assumed based on preliminary estimates and assumptions. These preliminary estimates and assumptions could change during the purchase price measurement period as the Company finalizes the valuations of the net tangible and intangible assets.

The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed as of the date of the acquisition and the estimated amounts assigned to goodwill and intangible asset classifications:



	As of March 1, 2011
Accounts Receivable	$	28,614
Inventory	30,167
Prepaid expenses and other current assets	846
Property, plant and equipment, net	6,347
Goodwill	79,993
Intangible assets	82,563
Deferred tax assets	3,086
Total assets acquired	231,616
Accounts payable	15,796
Accrued expenses and other liabilities	12,664
Deferred tax liabilities	33,557
Net tangible and intangible assets acquired	$	169,599

During the measurement period, the Company recorded $30.5 million of net deferred tax liabilities related to the basis difference between the financial reporting value and the tax value, and adjustments to the intangible asset values in connection with our preliminary purchase price valuation. In addition, the original purchase price allocation was adjusted by $2.2 million during the quarter ended August 31, 2011 to account for contingent purchase price consideration. As a result of these changes, goodwill associated with this transaction was adjusted accordingly.

The preliminary amounts assigned to goodwill and intangible assets for the acquisition are as follows:



	March 1, 2011		Amortization Period (Years)
Goodwill (non-deductible)	$	79,993	N/A
Tradenames (non-deductible)	49,316		Indefinite
Customer relationships	32,000		15
Patents	1,247		13
	$	162,556

Acquisition related costs of $988, $93, $239 and $25 in the three months ended February 28, May 31, August 31, and November 30, 2011, respectively, were expensed as incurred and are included in general and administrative expenses in the accompanying consolidated statements of income. In addition, the Company incurred $1,250 of costs which were contingent upon the completion of the acquisition and were expensed on March 1, 2011.

Pro Forma Information

The following unaudited pro forma information illustrates the effect on net sales and net income for the nine months ended November 30, 2011 and November 30, 2010, assuming that the acquisition had taken place on March 1, 2010.



	Nine Months Ended
	November 30, 2011		November 30, 2010
Net sales:
As reported	$	530,465	$	422,778
Pro forma	530,465		552,082
Net income:
As reported	$	14,783	$	5,624
Pro forma	15,733		15,587
Basic earnings per share:
As reported	$	0.64	$	0.25
Pro forma	0.61		0.68
Diluted earnings per share:
As reported	$	0.64	$	0.24
Pro forma	0.68		0.68
Average shares - basic	23,073,983		22,904,746
Average shares - diluted	23,203,504		23,057,969

The above pro-forma results include certain adjustments for the periods presented to adjust the financial results and give consideration to the assumption that the acquisition occurred on the first day of Fiscal 2011. These adjustments include costs such as an estimate for amortization and depreciation associated with intangible and fixed assets acquired, additional financing costs as a result of the acquisition, and the movement of expenses specific to the acquisition from Fiscal 2012 to Fiscal 2011. These pro-forma results of operations have been estimated for comparative purposes only and may not reflect the actual results of operations that would have been achieved had the transaction occurred on the date presented or be indicative of results to be achieved in the future.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

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+ Details

Note 3. Net Income Per Common Share Level 1 (Notes)

9 Months Ended

Nov. 30, 2011

Net Income Per Common Share [Abstract]

Earnings Per Share [Text Block]

Net Income Per Common Share

Basic net income per common share is based upon the weighted-average common shares outstanding during the period. Diluted net income per common share reflects the potential dilution that would occur if common stock equivalent securities or other contracts to issue common stock were exercised or converted into common stock.

There are no reconciling items which impact the numerator of basic and diluted net income per common share. A reconciliation between the denominator of basic and diluted net income per common share is as follows:



	Three Months Ended November 30,		Nine Months Ended November 30,
	2011	2010	2011	2010
Weighted-average common shares outstanding	23,074,030	22,934,211	23,073,983	22,904,746
Effect of dilutive securities:
Stock options, warrants and restricted stock	—	164,737	129,521	153,223
Weighted-average common shares and potential common shares outstanding	23,074,030	23,098,948	23,203,504	23,057,969

Stock options and warrants totaling 1,142,500 and 147,498 for the three months ended November 30, 2011 and 2010, respectively, and 481,952 and 199,822 for the nine months ended November 30, 2011 and 2010, respectively, were not included in the net income per diluted share calculation because the exercise price of these options and warrants was greater than the average market price of the Company’s common stock during these periods or their inclusion would have been anti-dilutive.

Note 4. Fair Value Measurements Level 1 (Notes)

9 Months Ended

Nov. 30, 2011

Fair Value Measurements [Abstract]

Fair Value Disclosures [Text Block]

Fair Value Measurements and Derivatives

The Company adopted authoritative guidance on “Fair Value Measurements,” which among other things, requires enhanced disclosures about investments that are measured and reported at fair value. This guidance establishes a hierarchal disclosure framework that prioritizes and ranks the level of market price observability used in measuring investments at fair value. Market price observability is impacted by a number of factors, including the type of investment and the characteristics specific to the investment. Investments with readily available active quoted prices, or for which fair value can be measured from actively quoted prices, generally will have a higher degree of market price observability and a lesser degree of judgment used in measuring fair value.

Investments measured and reported at fair value are classified and disclosed in one of the following categories:

Level 1 - Quoted market prices in active markets for identical assets or liabilities.

Level 2 - Inputs other than Level 1 inputs that are either directly or indirectly observable.

Level 3 - Unobservable inputs developed using the Company's estimates and assumptions, which reflect those that market participants would use.

The following table presents assets measured at fair value on a recurring basis at November 30, 2011:



			Fair Value Measurements at Reporting Date Using
			Level 1		Level 2		Level 3
Cash and cash equivalents:
Cash and money market funds	$	18,836	$	18,836	$	—	$	—
Derivatives
Designated for hedging	$	248	$	248	$	—	$	—
Long-term investment securities:
Marketable securities
Trading securities	$	3,410	$	3,410	$	—	$	—
Available-for-sale securities	6		6		—		—
Total marketable securities	3,416		3,416		—		—
Other investments at cost (a)	9,611		—		—		—
Total long-term investment securities	$	20,560	$	3,416	$	—	$	—

The following table presents assets measured at fair value on a recurring basis at February 28, 2011:



			Fair Value Measurements at Reporting Date Using
			Level 1		Level 2		Level 3
Cash and cash equivalents:
Cash and money market funds	$	98,630	$	98,630	$	—	$	—
Derivatives
Designated for hedging	$	238	$	238	$	—	$	—
Not designated	85		85		—		—
Total derivatives	$	323	$	323	$	—	$	—
Long-term investment securities:
Marketable securities
Trading securities	$	3,804	$	3,804	$	—	$	—
Available-for-sale securities	68		68		—		—
Total marketable securities	3,872		3,872		—		—
Other investments at cost (a)	9,628		—		—		—
Total long-term investment securities	$	21,002	$	3,872	$	—	$	—


(a)	The Company's held-to-maturity investment is carried at amortized cost, and as such, has been removed from the Level 2 classification. There were no events or changes in circumstances that occurred to indicate a significant adverse effect on the cost of these investments.

The carrying amount of the Company's accounts receivable, short-term debt, accounts payable, accrued expenses, bank obligations and long-term debt approximates fair value because of (i) the short-term nature of the financial instrument; (ii) the interest rate on the financial instrument being reset every quarter to reflect current market rates and (iii) the stated or implicit interest rate approximates the current market rates or are not materially different than market rates.

Derivative Instruments

The Company's derivative instruments include forward foreign currency contracts utilized to hedge a portion of its foreign currency inventory purchases as well as its general economic exposure to foreign currency fluctuations created in the normal course of business. The derivatives qualifying for hedge accounting are designated as cash flow hedges and valued using observable forward rates (Level 1). Forward foreign currency contracts not designated under hedged transactions were valued at spot rates (Level 1). The duration of open forward foreign currency contracts range from 1 - 3 months and are classified in the balance sheet according to their terms.

It is the Company's policy to enter into derivative instrument contracts with terms that coincide with the underlying exposure being hedged. As such, the Company's derivative instruments are expected to be highly effective. Hedge ineffectiveness, if any, is recognized as incurred through other income (expense) in the Company's Consolidated Statement of Operations and amounted to $77 and $(4) for the three and nine months ended November 30, 2011, respectively.

Financial Statement Classification

The Company holds derivative instruments that are designated as hedging instruments, and has held certain instruments not so designated. The following table discloses the fair value as of November 30, 2011 and February 28, 2011 for both types of derivative instruments:



	Derivative Assets and Liabilities
		Fair Value
	Account	November 30, 2011		February 28, 2011
Designated derivative instruments
Foreign currency contracts	Prepaid expenses and other current assets	$	248	$	238

Derivatives not designated
Foreign currency contracts	Prepaid expenses and other current assets	—		85

Total derivatives		$	248	$	323

During the three months ended May 31, 2011, the Company settled one remaining foreign currency contract which was a derivative not designated in a hedged transaction and as such, there are no current contracts of this nature outstanding at November 30, 2011.

Cash flow hedges

In November 2010 and January 2011, the Company entered into forward foreign currency contracts, which have a current outstanding notional value of $6,450, and are designated as cash flow hedges. For cash flow hedges, the effective portion of the gain or loss is reported as a component of other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transactions affect earnings.

Activity related to cash flow hedges recorded during the three and nine months ended November 30, 2011 was as follows:



	For The Three Months Ended							For the Nine Months Ended
	November 30, 2011							November 30, 2011
	Gain (Loss) Recognized in Other Comprehensive Income		Gain (Loss) Reclassified into Cost of Sales			Gain (Loss) for Ineffectiveness in Other Income		Gain (Loss) Recognized in Other Comprehensive Income			Gain (Loss) Reclassified into Cost of Sales			Gain (Loss) for Ineffectiveness in Other Income
Cash flow hedges
Foreign currency contracts	$	720	$	(52	)	$	77	$	(149	)	$	(186	)	$	(4	)

The net gain recognized in other comprehensive income for foreign currency contracts is expected to be recognized in cost of sales within the next six months. No amounts were excluded from the assessment of hedge effectiveness during the respective periods. As of November 30, 2011, no contracts originally designated for hedge accounting were de-designated or terminated.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15C, 15D
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15A
-Subparagraph a-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
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-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 3, 10, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32, 33, 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 17-22, 27, 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Note 5. Investment Securities Level 1 (Notes)

9 Months Ended

Nov. 30, 2011

Investment Securities [Abstract]

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

Investment Securities

In accordance with the Company's investment policy, all long and short-term investment securities are invested in "investment grade" rated securities. As of November 30, 2011 and 2010, the Company had the following investments:



	November 30, 2011						February 28, 2011
	Cost Basis		Unrealized holding gain/(loss)		Fair Value		Cost Basis		Unrealized holding gain/(loss)			Fair Value
Long-Term Investments
Marketable Securities
Trading
Deferred Compensation	$	3,410	$	—	$	3,410	$	3,804	$	—		$	3,804
Available-for-sale
Cellstar	—		6		6		—		6			6
Bliss-tel	—		—		—		1,225		(1,163		)	62
Held-to-maturity Investment	7,533		—		7,533		7,502		—			7,502
Total Marketable Securities	10,943		6		10,949		12,531		(1,157		)	11,374
Other Long-Term Investment	2,078		—		2,078		2,126		—			2,126
Total Long-Term Investments	$	13,021	$	6	$	13,027	$	14,657	$	(1,157	)	$	13,500

Long-Term Investments

Trading Securities

The Company’s trading securities consist of mutual funds, which are held in connection with the Company’s deferred compensation plan. Unrealized holding gains and losses on trading securities offset those associated with the corresponding deferred compensation liability.

Available-For-Sale Securities

The Company’s available-for-sale marketable securities include a less than 20% equity ownership in CLST Holdings, Inc. (“Cellstar”) and Bliss-tel Public Company Limited (“Bliss-tel”).

Unrealized holding gains and losses, net of the related tax effect (if applicable), on available-for-sale securities are reported as a component of accumulated other comprehensive income (loss) until realized. Realized gains and losses from the sale of available-for-sale securities are determined on a specific identification basis.

The fair value of the Cellstar and Bliss-tel investments are determined by quoted prices in active markets as they are publicly traded. On December 13, 2004, one of the Company's former equity investments, Bliss-tel, issued 575,000,000 shares on the SET (Security Exchange of Thailand) for an offering price of 2.48 baht per share. Prior to the issuance of these shares, the Company was a 20% shareholder in Bliss-tel and, subsequent to the offering, the Company owned 75,000,000 shares (or approximately 13%) of Bliss-tel's outstanding stock. In addition, on July 21, 2005, the Company received 22,500,000 warrants ("the warrants") which may be exercised beginning on September 29, 2006, and expire on July 17, 2012. Each warrant is exercisable into one share of Bliss-tel common stock at an exercise price of 8 baht per share.

During the year ended February 29, 2008, the Company sold 32,898,500 shares of Bliss-tel stock, resulting in a gain of $1,533. During Fiscal 2010, Bliss-tel concluded a 4:1 reverse stock split. Accordingly, all share data has been retroactively restated. As of November 30, 2011, the Company owns 36,250,000 shares and 22,500,000 warrants in Bliss-tel. As discussed below, the aggregate fair value as of November 30, 2011 was determined to be $0.

A decline in the market value of any available-for-sale security below cost that is deemed other-than-temporary results in a reduction in carrying amount to fair value. The impairment is charged to earnings and a new cost basis for the security is established. The Company considers numerous factors, on a case-by-case basis, in evaluating whether the decline in market value of an available-for-sale security below cost is other-than-temporary. Such factors include, but are not limited to, (i) the length of time and the extent to which the market value has been less than cost; (ii) the financial condition and the near-term prospects of the issuer of the investment; and (iii) whether the Company's intent to retain the investment for the period of time is sufficient to allow for any anticipated recovery in market value. In Fiscal 2010, the Company determined that its investment in Bliss-tel was other than temporarily impaired based on its market price (which has been below cost in excess of twelve months), Bliss-tel's recent losses, its deteriorating financial position, and conditions in the local and global economy, as well as the political environment in Thailand. This impairment of $1,000 related to the approximate value of the warrants, which the Company determined it would not exercise. During Fiscal 2011, the Company continued to monitor the business plans and performance of Bliss-tel. Management noted that, during the year, Bliss-tel successfully restructured its debt position on favorable terms to the company; they further reduced overhead and discontinued unprofitable locations; they weathered the political unrest in the local metropolitan environments; they raised additional capital; and finally, they retained the services of a financial consultant to develop a new business strategy. Notwithstanding these positive factors, there are certain negative factors, exclusive of those associated with macroeconomics, which impacted management's consideration of the value of this investment. Specifically, the company continued to incur significant losses from operations, which raised substantial doubt about the company's ability to continue for a period of time in which management could anticipate a full recovery. Therefore, management determined that an additional portion of its investment was other-than-temporarily impaired. A loss of $1,600 was recorded on the income statement through other income and expense during the year ended February 28, 2011. During the Company's first fiscal quarter of 2012, Bliss-tel stopped trading on the Thai stock exchange. In discussions with the company, they were in the process of changing accountants and as a result, had not filed with the exchange on time. Bliss-tel felt they would be current by their third quarter. Bliss-tel concluded their shareholders' meeting and approved an additional private issuance of shares to raise funds for the businesses. As a result of the potential further dilution of its investment, the Company recorded an additional other-than-temporary impairment loss of $300 for the three months ended May 31, 2011. During the three months ended August 31, 2011, management noted that Bliss-tel was still suspended from trading. In addition, the company obtained an additional support loan from a managing director to temporarily fund its working capital needs. The Company received no indication that Bliss-tel had ceased operations, however, after review of these circumstances; the dilution of the Company's position; the length of time required to recover this investment; and the continued suspension from trading as discussed above, management concluded that the balance of the impairment was other-than-temporary. As a result, an impairment loss of $877 was recorded during the three months ended August 31, 2011. During the three months ended November 30, 2011, Bliss-tel announced that it has engaged a new auditor and is currently seeking approval of the board. The company is still in arrears on all of its financial statement filings since those filed for December 31, 2010, the stock is still suspended from trading and the Thai Stock Exchange disclosed that Bliss-tel may be delisted for failure to file timely financial statements. Due to the fact that Bliss-tel's stock has been suspended from trading since May 2011, the Company could not obtain a fair market value on its investment. Management estimated the value of this investment to be $0 and recorded an impairment charge of $48 during the three months ended November 30, 2011, with a total of $1,225 for the fiscal year to date.

Held-to-Maturity Investment

Long-term investments include an investment in U.S. dollar-denominated bonds issued by the Venezuelan government, which is classified as held-to-maturity and accounted for under the amortized cost method.

Other Long-Term Investments

Other long-term investments include an investment in a non-controlled corporation of $2,078 accounted for by the cost method. As of November 30, 2011, the Company held approximately 14% of the outstanding shares of this company.

- Definition

Tabular disclosure of investments in certain debt and equity securities (and certain other trading assets) which include all debt and equity securities (other than those equity securities accounted for under the equity or cost methods of accounting) with readily determinable fair values. Other trading assets include assets that are carried on the balance sheet at fair value and held for trading purposes. A debt security represents a creditor relationship with an enterprise that is in the form of a security. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities (and other trading assets).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 115
-Paragraph 3, 19, 20, 21, 22, 137
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Debt Security
-URI http://asc.fasb.org/extlink&oid=6509901
-Topic 320

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Equity Security
-URI http://asc.fasb.org/extlink&oid=6511694
-Topic 320

+ Details

Note 6. Other Comprehensive Income Level 1 (Notes)

9 Months Ended

Nov. 30, 2011

Other Comprehensive Income [Abstract]

Other Comprehensive Income, Noncontrolling Interest [Text Block]

Other Comprehensive Income

The Company’s total comprehensive income was as follows:



	Three Months Ended November 30,					Nine Months Ended November 30,
	2011			2010		2011			2010
Net income	$	8,858		$	3,859	$	14,783		$	5,624
Other comprehensive income (loss):
Foreign currency translation adjustments	(2,408		)	886		(1,696		)	(237		)
Derivatives designated for hedging	806			1,623		81			1,623
Other-than-temporary impairment loss on available-for-sale investment	(8		)	—		1,177			—
Unrealized holding (loss) gain on available-for-sale investment securities arising during the period, net of tax	(3		)	437		(14		)	801
Other comprehensive income (loss), net of tax	(1,613		)	2,946		(452		)	2,187
Total comprehensive income	$	7,245		$	6,805	$	14,331		$	7,811

The Company’s accumulated other comprehensive losses consist of the following:



	November 30, 2011			February 28, 2011
Accumulated other comprehensive losses:
Foreign exchange losses	$	(4,602	)	$	(2,906	)
Unrealized losses on investments, net of tax	(18		)	(1,181		)
Derivatives designated in hedging relationship	319			238
Total accumulated other comprehensive losses	$	(4,301	)	$	(3,849	)

The Company did not record tax expenses during the three and nine months ended November 30, 2011 and 2010 as a result of the loss position for related investments.

Note 7. Supplemental Cash Flow Information Level 1 (Notes)

9 Months Ended

Nov. 30, 2011

Supplemental Cash Flow Information [Abstract]

Cash Flow, Supplemental Disclosures [Text Block]

Supplemental Cash Flow Information

The following is supplemental information relating to the consolidated statements of cash flows:



	Nine Months Ended November 30,
	2011		2010
Cash paid during the period:
Interest (excluding bank charges)	$	2,633	$	1,026
Income taxes (net of refunds)	$	899	$	930

Note 8. Accounting for Stock-Based Compensation Level 1 (Notes)

9 Months Ended

Nov. 30, 2011

Accounting for Stock Based Compensation [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

Accounting for Stock-Based Compensation

The Company has various stock-based compensation plans, which are more fully described in Note 1 of the Company’s Form 10-K for the fiscal year ended February 28, 2011.

The Company granted 246,250 options during May of 2011, which vest on February 29, 2012, expire two years from date of vesting (February 28, 2014), have an exercise price equal to $7.75, $.25 above the sales price of the Company’s stock on the day prior to the date of grant, have a contractual term of 2.75 years and a grant date fair value of $3.08 per share determined based upon a Black-Scholes valuation model.

In addition, the Company issued 22,500 warrants during May of 2011 to purchase the Company’s common stock with the same terms as those of the options above as consideration for future legal and professional services. These warrants are included in the outstanding options and warrant table below and considered exercisable at November 30, 2011.

As of November 30, 2011, the Company had unrecognized compensation costs of approximately $270 related to non-vested options. The unrecognized compensation costs related to these options will be completely recognized by February 29, 2012.



	Nine Months Ended
	November 30, 2011
Dividend yield	0	%
Volatility	65.4	%
Risk-free interest rate	0.9	%
Expected life (years)	2.8

Information regarding the Company's stock options and warrants is summarized below:



	Number of Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life
Outstanding and exercisable at February 28, 2011	886,250		$	6.40
Granted	268,750		7.75
Exercised	—		—
Forfeited/expired	(22,500	)	7.36
Outstanding and exercisable at November 30, 2011	1,132,500		$	6.70	1.68

In May of 2011, the Company granted 100,000 shares of restricted stock. A restricted stock award is an award of common stock that is subject to certain restrictions during a specified period. Restricted stock awards are independent of option grants and are subject to forfeiture if employment terminates prior to the release of the restrictions. Shares under the above grant will not be issued to the grantee before they vest. The grantee cannot transfer the rights to receive shares before the restricted shares vest. The restricted stock awards vest one-third on February 29, 2012, one-third on February 28, 2013 and one-third on February 28, 2014. The Company expenses the cost of the restricted stock awards on a straight-line basis over the period during which the restrictions lapse. For these purposes, the fair market value of the restricted stock, $7.60, is determined based on the closing price of the Company's common stock on the grant date.

The following table presents a summary of the Company's restricted stock activity for the nine months ended November 30, 2011:



	Number of shares (in thousands)	Weighted Average Grant Date Fair Value
Balance at February 28, 2011	—	$	—
Granted	100,000	7.60
Vested	—	—
Forfeited	—	—
Balance at November 30, 2011	100,000	$	7.60

During the three and nine months ended November 30, 2011, the Company recorded $83 and $171, respectively, in stock-based compensation related to restricted stock awards. As of November 30, 2011, there was $589 of unrecognized stock-based compensation expense related to unvested restricted stock awards. This expense is expected to be fully recognized by February 28, 2014.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

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+ Details

Note 9. Goodwill and Intangible Assets Level 1 (Notes)

9 Months Ended

Nov. 30, 2011

Goodwill and Intangible Assets [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

Goodwill and Intangible Assets

The change in goodwill is as follows:



Balance at February 28, 2011	$	7,373
Goodwill related to Klipsch acquisition	79,993
Balance at November 30, 2011	$	87,366

At November 30, 2011, intangible assets consisted of the following:



	Gross Carrying Value		Accumulated Amortization		Total Net Book Value
Trademarks/Tradenames not subject to amortization	$	130,612	$	—	$	130,612
Customer relationships subject to amortization (5-20 years)	50,302		6,657		43,645
Trademarks/Tradenames subject to amortization (3-12 years)	1,237		700		537
Patents subject to amortization (5-10 years)	2,942		952		1,990
License subject to amortization (5 years)	1,400		1,143		257
Contract subject to amortization (5 years)	1,556		1,270		286
Total	$	188,049	$	10,722	$	177,327

At February 28, 2011, intangible assets consisted of the following:



	Gross Carrying Value		Accumulated Amortization		Total Net Book Value
Trademarks/Tradenames/Licenses not subject to amortization	$	82,569	$	—	$	82,569
Customer relationships subject to amortization (5-20 years)	18,439		4,142		14,297
Trademarks/Tradenames subject to amortization (3-12 years)	1,237		634		603
Patents subject to amortization (5-10 years)	1,696		797		899
License subject to amortization (5 years)	1,400		933		467
Contract subject to amortization (5 years)	1,556		1,202		354
Total	$	106,897	$	7,708	$	99,189

The Company recorded amortization expense of $1,018 and $469 for the three months ended November 30, 2011 and 2010, respectively, and $3,059 and $1,566 for the nine months ended November 30, 2011 and 2010, respectively. The estimated aggregate amortization expense for the cumulative five years ending November 30, 2016 amounts to $19,243.

We evaluate the carrying value of long-lived assets, including intangible assets subject to amortization, when events and circumstances warrant such a review. The carrying value of long-lived assets is considered impaired when the estimated undiscounted cash flows from such assets are less than their carrying value. In that event, a loss is recognized equal to the amount by which the carrying value exceeds the fair value of the long-lived assets. Fair value is determined by primarily using a discounted cash flow methodology that requires considerable management judgment and long-term assumptions. There were no impairment triggering events during the three and nine months ended November 30, 2011, therefore, management believes the current carrying value of its intangible assets is not impaired. Our estimate of net future cash flows is based on historical experience and assumptions of future trends, which may be different from actual results. We periodically review the appropriateness of the estimated useful lives of our long-lived assets.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Note 10. Equity Investments Level 1 (Notes)

9 Months Ended

Nov. 30, 2011

Equity Investments [Abstract]

Equity Method Investments Disclosure [Text Block]

Equity Investments

As of November 30, 2011 and February 28, 2011, the Company had a 50% non-controlling ownership interest in Audiovox Specialized Applications, Inc. (“ASA”), which acts as a distributor of televisions and other automotive sound, security and accessory products for specialized vehicles, such as RV’s and van conversions.

The following table presents summary financial information for ASA. Such summary financial information has been provided herein based upon the individual significance of ASA to the consolidated financial information of the Company.



	November 30, 2011		February 28, 2011
Current assets	$	30,311	$	24,521
Non-current assets	5,017		5,240
Current liabilities	5,867		4,233
Members' equity	29,461		25,528
	Nine Months Ended November 30,
	2011		2010
Net sales	$	55,817	$	53,379
Gross profit	16,686		13,902
Operating income	6,487		4,654
Net income	6,509		4,695

The Company's share of income from ASA for the nine months ended November 30, 2011 and 2010 was $3,255 and $2,348, respectively.

- Definition

The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.

+ References + Details

Note 11. Income Taxes Level 1 (Notes)	9 Months Ended
Note 11. Income Taxes Level 1 (Notes)	Nov. 30, 2011
Income Taxes [Abstract]
Income Tax Disclosure [Text Block]	Income Taxes The Company’s provision for income taxes consists of U.S. and foreign taxes in amounts necessary to align the Company’s year-to-date provision for income taxes with the effective tax rate that the Company expects to achieve for the full year. The Company’s annual effective tax rate for Fiscal 2012, excluding discrete items is estimated to be 41.4% (which includes U.S., state and local and foreign taxes) based upon the Company’s anticipated earnings both in the U.S. and in its foreign subsidiaries. For the three months ended November 30, 2011 the Company recorded a provision for income taxes of $6,136, which consisted of U.S., state and local and foreign taxes, including discrete items related to the accrual of interest for uncertain tax positions under ASC 740, "Income Taxes," and a change in the tax rates. For the three months ended November 30, 2010, the Company recorded a provision for income taxes of $2,035 which consisted of tax benefits related to discrete items including recently enacted state tax legislation impacting the recognition of certain tax positions under ASC 740 and the tax effects of certain foreign tax matters, offset by a tax provision related to U.S., state and local and foreign taxes. In connection with the Klipsch business combination, the Company recorded net deferred tax liabilities of approximately $30.5 million related to the basis difference between the financial reporting value and the tax value of Klipsch's assets and liabilities.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 9
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

+ Details

Note 12. Inventory Level 1 (Notes)

9 Months Ended

Nov. 30, 2011

Inventory [Abstract]

Inventory Disclosure [Text Block]

Inventory

Inventories by major category are as follows:



	November 30, 2011		February 28, 2011
Raw materials	$	16,779	$	10,562
Work in process	1,971		1,653
Finished goods	129,035		101,405
Inventory, net	$	147,785	$	113,620

Note 13. Accrued Sales Incentives Level 1 (Notes)

9 Months Ended

Nov. 30, 2011

Accrued Sales Incentives [Abstract]

Accrued Sales Incentives [Text Block]

Accrued Sales Incentives

A summary of the activity with respect to sales incentives is provided below:



	Three Months Ended November 30,						Nine Months Ended November 30,
	2011			2010			2011			2010
Opening balance	$	17,876		$	12,513		$	11,981		$	10,606
Accruals	12,556			8,733			37,703			21,988
Payments and credits	(8,465		)	(5,641		)	(26,353		)	(16,346		)
Reversals for unearned sales incentive	(405		)	(174		)	(449		)	(658		)
Reversals for unclaimed sales incentives	(336		)	(93		)	(1,656		)	(252		)
Ending balance	$	21,226		$	15,338		$	21,226		$	15,338

Note 14. Product Warranties and Product Repair Costs Level 1 (Notes)

9 Months Ended

Nov. 30, 2011

Product Warranties and Product Repair Costs [Abstract]

Product Warranty Disclosure [Text Block]

Product Warranties and Product Repair Costs

The following table provides a summary of the activity with respect to product warranties and product repair costs:



	Three Months Ended November 30,						Nine Months Ended November 30,
	2011			2010			2011			2010
Opening balance	$	9,743		$	12,049		$	9,051		$	13,058
Liabilities accrued for warranties issued during the period	3,097			3,395			9,186			10,024
Warranty claims paid during the period (includes the acquired warranty liabilities)	(2,879		)	(4,367		)	(8,276		)	(12,005		)
Ending balance	$	9,961		$	11,077		$	9,961		$	11,077

Note 15. Financing Arrangements Level 1 (Notes)

9 Months Ended

Nov. 30, 2011

Financing Arrangements [Abstract]

Debt Disclosure [Text Block]

Financing Arrangements

The Company has the following financing arrangements:



	November 30, 2011		February 28, 2011
Debt
Domestic bank obligations (a)	$	62,673	$	—
Foreign bank obligations (b)	2,526		1,902
Euro term loan agreement (c)	2,028		3,488
Oehlbach (d)	—		86
Other (e)	4,725		4,890
Total debt	71,952		10,366
Less: current portion of long-term debt	4,293		4,471
	$	67,659	$	5,895

(a) Domestic Bank Obligations

On March 1, 2011, the Company entered into a revolving credit facility (the “Credit Facility”) with an aggregated committed availability of up to $175 million (the “Maximum Credit”). This amount may be increased at the option of the Company up to a maximum of $200 million. The Credit Facility includes a $25 million sublimit for issuances of letters of credit and a $20 million sublimit for Swing Loans.

The Company may borrow under the Credit Facility as needed, provided the aggregate amounts outstanding will not exceed 85% of certain eligible accounts receivable, plus 65% of certain eligible inventory balances less the outstanding amounts for Letters of Credit Usage, if applicable. This amount may be further reduced by the aggregated amounts of reserves that may be required at the reasonable discretion of Wells Fargo in its role as the Administrative Agent.

Generally, the Company may designate specific borrowings under the Credit Facility as either Base Rate Loans or LIBOR Rate Loans, except that Swing Loans may only be designated as Base Rate Loans. Loans designated as LIBOR Rate Loans shall bear interest at a rate equal to the then applicable LIBOR rate plus a range of 2.25 - 2.75% based on excess availability in the borrowing base. Loans designated as Base Rate loans shall bear interest at a rate equal to the base rate plus an applicable margin ranging from 1.25 - 1.75% based on excess availability in the borrowing base. As of November 30, 2011, the interest rate on the facility was 2.9%.

All amounts outstanding under the Credit Facility will mature and become due on March 1, 2016. The Company may prepay any amounts outstanding at any time, subject to payment of certain breakage and redeployment costs relating to LIBOR Rate Loans. The commitments under the Credit Facility may be irrevocably reduced at any time without premium or penalty.

The Credit Agreement contains covenants that limit the ability of certain entities of the Company to, among other things: (i) incur additional indebtedness: (ii) incur liens; (iii) merge, consolidate or exit a substantial portion of their business; (iv) transfer or dispose of assets; (v) change their names, organizational identification number, state or province of organization or organizational identity; (vi) make any material change in their nature of business; (vii) prepay or otherwise acquire indebtedness; (viii) cause any Change of Control; (ix) make any Restricted Junior Payment; (x) change their fiscal year or method of accounting; (xi) make advances, loans or investments; (xii) enter into or permit any transactions with an Affiliate of certain entities of the Company; (xiii) use proceeds for certain items; (xiv) issue or sell any of their stock; and/or (xv) consign or sell any of their inventory on certain terms.

In addition, at any time that Excess Availability falls below 12.5% of the Maximum Credit, the Company must maintain a minimum Fixed Charge Coverage Ratio for certain entities, of not less than 1.0:1.0 until such time as Excess Availability has equaled or exceeded 12.5% of the Maximum Availability at all times for a period of thirty (30) consecutive days.

The Credit Agreement contains customary events of default, including, without limitation: failure to pay when due principal amounts in respect of the Credit Facility; failure to pay any interest or other amounts under the Credit Facility for a period of three (3) business days after becoming due; failure to comply with certain agreements or covenants in the Credit Agreement; failure to satisfy certain judgments against a Loan Party or any of its Subsidiaries; certain insolvency and bankruptcy events; and failure to pay when due certain indebtedness in principal amount in excess of $5 million.

The Obligations under the Credit Facility are secured by a general lien on and security interest in substantially all of the assets of certain entities of the Company, including accounts receivable, equipment, real estate, general intangibles and inventory. The Company has guaranteed the obligations of all entities under the Credit Agreement.

On March 1, 2011, the Company borrowed approximately $89 million under this credit facility as a result of its stock purchase agreement related to Klipsch Group, Inc. As of November 30, 2011, approximately $63 million was outstanding under the line.

As a result of the addition of the new Credit Facility, the Company has incurred debt financing costs of approximately $3 million which are recorded as deferred financing costs that are included in other assets and amortized through interest and bank charges over a five year period. During the three and nine months ended November 30, 2011, the Company amortized $170 and $510, respectively, of these costs.

(b) Euro Asset-Based Lending Obligation

Foreign bank obligations include a financing arrangement totaling 16,000 Euros consisting of a Euro accounts receivable factoring arrangement and a Euro Asset-Based Lending ("ABL") (up to 60% of eligible non-factored accounts receivable) credit facility for the Company's subsidiary, Audiovox Germany, which expires on November 1, 2012. Selected accounts receivable are purchased from the Company on a non-recourse basis at 85% of face value and payment of the remaining 15% upon receipt from the customer of the balance of the receivable purchased. The activity under the factoring agreement is accounted for as a sale of accounts receivable. The rate of interest is the three month Euribor plus 1.9%, and the Company pays 0.22% of its gross sales as a fee for the accounts receivable factoring arrangement. As of November 30, 2011, the amount of accounts receivable available for factoring exceeded the amounts outstanding under this obligation.

The Company had a $2,000 credit line in Venezuela to fund the short-term working capital needs of the local operation. This line expired on June 30, 2011.

On March 30, 2008, Audiovox Germany entered into a 5,000 Euro term loan agreement. This agreement is for a five-year term with a financial institution and was used to repay the Audiovox Germany intercompany debt to Audiovox Corporation. Payments under the term loan are to be made in two semi-annual installments of 500 Euros beginning on September 30, 2008 and ending on March 30, 2013. Interest accrues at a fixed rate of 4.82%. Any amount repaid can not be reborrowed. The term loan is secured by a pledge of the stock of Audiovox Germany and the Magnat brand name, prohibits the distribution of dividends, and takes precedence to all other intercompany loans with Audiovox Corporation.

(d) Oehlbach

In connection with the Oehlbach acquisition, the Company acquired short and long term debt payable to various third parties, which was repaid in March 2011.

(e) Other Debt

This amount includes a call/put option owed to certain employees of Audiovox Germany, an assumed liability in connection with the Company's Invision acquisition, and a note payable on a facility acquired in connection with the Company's Klipsch acquisition.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References + Details

Note 16. Other Income (Expense) Level 1 (Notes)

9 Months Ended

Nov. 30, 2011

Other Income (Expense) [Abstract]

Other Income and Other Expense Disclosure [Text Block]

Other Income (Expense)

Other income (expense) is comprised of the following:



	Three Months Ended November 30,						Nine Months Ended November 30,
	2011			2010			2011			2010
Interest income	$	277		$	439		$	562		$	913
Rental income	130			141			398			398
Miscellaneous	(3,715		)	(217		)	(5,014		)	1,052
Total other, net	$	(3,308	)	$	363		$	(4,054	)	$	2,363

Miscellaneous expense includes impairment charges on marketable securities of $0 and $1.2 million for the three and nine months ended November 30, 2011, a contingent consideration adjustment of approximately $0.5 and $2.0 million recorded during the three and nine months ended November 30, 2011 and charges related to a legal settlement of approximately $2.6 million recorded during the three months ended November 30, 2011.

Note 17. Foreign Currency Level 1 (Notes)	9 Months Ended
Note 17. Foreign Currency Level 1 (Notes)	Nov. 30, 2011
Foreign Currency [Abstract]
Foreign Currency Disclosure [Text Block]	Foreign Currency The Company has certain operations in Venezuela. Venezuela has recently been operating in a difficult economic environment, which has been troubled with local political issues and various foreign currency and price controls. The country has experienced high rates of inflation over the last several years. The President of Venezuela has the authority to legislate certain areas by decree, which allows the government to nationalize certain industries or expropriate certain companies and property. These factors may have a negative impact on our business and our financial condition. In 2003, Venezuela created the Commission of Administration of Foreign Currency (“CADIVI”) which establishes and administers currency controls and their associated rules and regulations. These controls include creating a fixed exchange rate between the Bolivar and the U.S. Dollar, and the ability to restrict the exchange of Bolivar Fuertes for U.S. Dollars and vice versa. Effective January 1, 2010, according to the guidelines in ASC 830, "Foreign Currency," Venezuela had been designated as a hyper-inflationary economy. A hyper-inflationary economy designation occurs when a country has experienced cumulative inflation of approximately 100 percent or more over a 3 year period. The hyper-inflationary designation requires the local subsidiary in Venezuela to record all transactions as if they were denominated in U.S. dollars. The Company transitioned to hyper-inflationary accounting on March 1, 2010 and continues to account for Venezuela under this method. On January 8, 2010, the Venezuelan government announced its intention to devalue its currency (Bolivar fuerte) and move to a two tier exchange structure, 2.60 for essential goods and 4.30 for non-essential goods and services. Products sold by our Venezuelan operation are classified as non-essential, however, the Company has certain US dollar denominated assets and liabilities for which the 2.60 rate was applied. In January, 2011, the Venezuelan government eliminated the two-tier exchange rate. On June 9, 2010, the Venezuelan government introduced a newly regulated foreign currency exchange system, Sistema de Transacciones con Titulos en Moneda Extranjera (“SITME”), which is controlled by the Central Bank of Venezuela (“BCV”). The SITME imposes volume restrictions on the conversion of Venezuelan Bolivar Fuertes to U.S. Dollars, currently limiting such activity to a maximum equivalent of $350,000 per month. As a result of this restriction, we have limited new U.S. dollar purchases to remain within the guidelines imposed by SITME.

- Definition

The entire disclosure for foreign currency transactions and translation. This may include description of foreign currency transactions, foreign currency gains and losses, explanation of change in cumulative translation adjustment, description of effect of subsequent foreign currency exchange rate change, cumulative translation adjustment movement, foreign currency translation adjustment by component movement, translation adjustment for net investment hedge movement, adjustment for long-term intercompany transactions, schedule of long-term intercompany balances and any other foreign currency transactions and translation related items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 52
-Paragraph 30, 31, 32
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 18
-URI http://asc.fasb.org/extlink&oid=6915805&loc=d3e32157-110900

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 830
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-Section 50
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32618-110901

+ Details

Note 18. Lease Obligations Level 1 (Notes)

9 Months Ended

Nov. 30, 2011

Lease Obligations [Abstract]

Leases of Lessee Disclosure [Text Block]

Lease Obligations

During 1998, the Company entered into a 30-year capital lease for a building with its principal stockholder and current chairman, which was the headquarters of the discontinued Cellular operation. This lease was restructured in December 2006, and expires on November 30, 2026. The Company currently subleases the building to Personal Communication Devices, LLC (Formerly UTStarcom) for monthly payments of $50 for a term of three years, terminating on October 31, 2012. The Company also leases another facility from its principal stockholder which expires on November 30, 2016.

As a result of the acquisition of Klipsch, the Company assumed a lease for the facility housing the Klipsch headquarters in Indianapolis. The lessor is Woodview, LLC ("Woodview"), of which certain partners are executives of Klipsch. Lease payments are based on current market rates, as determined by independent valuation, and continue until the lease expiration on May 31, 2021. In October 2011, the Company entered an agreement with Woodview to purchase this building for approximately $11,000, plus closing fees and expenses. The Company is negotiating assumption of the existing mortgage, but has the option under the agreement to pursue third party financing. Closing is expected in or about March 2012.

Total lease payments required under all related party leases for the five-year period ending November 30, 2016 are $12,322.

At November 30, 2011, the Company was obligated under non-cancellable capital and operating leases for equipment and warehouse facilities for minimum annual rental payments as follows:



	Capital Lease		Operating Leases
2012	$	574	$	7,295
2013	574		5,787
2014	574		5,165
2015	574		4,645
2016	574		2,164
Thereafter	6,626		3,662
Total minimum lease payments	9,496		$	28,718
Less: minimum sublease income	550
Net	8,946
Less: amount representing interest	3,560
Present value of net minimum lease payments	5,386
Less: current installments included in accrued expenses and other current liabilities	151
Long-term capital obligation	$	5,235

The Company leases certain facilities from its principal stockholder and certain other Klipsch executives. At November 30, 2011, minimum annual rental payments on these related party leases, in addition to the capital lease payments, which are included in the above table, are as follows:



2012	$	2,671
2013	2,707
2014	2,744
2015	2,781
2016	1,420
Thereafter	8,319
Total	$	20,642

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References + Details

Note 19. Contingencies and Derivative Settlement Level 1 (Notes)	9 Months Ended
	Nov. 30, 2011
Contingencies and Derivative Settlement [Abstract]
Legal Matters and Contingencies [Text Block]	Contingencies Contingencies The Company is currently, and has in the past been, a party to various routine legal proceedings incident to the ordinary course of business. If management determines, based on the underlying facts and circumstances, that it is probable a loss will result from a litigation contingency and the amount of the loss can be reasonably estimated, the estimated loss is accrued for. The Company believes its outstanding litigation matters disclosed below will not have a material adverse effect on the Company's financial statements, individually or in the aggregate; however, due to the uncertain outcome of these matters, the Company disclosed these specific matters below: Certain consolidated class actions transferred to a Multi-District Litigation Panel of the United States District Court of the District of Maryland against the Company and other suppliers, manufacturers and distributors of hand-held wireless telephones alleging damages relating to exposure to radio frequency radiation from hand-held wireless telephones are still pending. No assurances regarding the outcome of this matter can be given, as the Company is unable to assess the degree of probability of an unfavorable outcome or estimated loss or liability, if any. Accordingly, no estimated loss has been recorded for the aforementioned case. The products the Company sells are continually changing as a result of improved technology. As a result, although the Company and its suppliers attempt to avoid infringing known proprietary rights, the Company may be subject to legal proceedings and claims for alleged infringement by its suppliers or distributors, of third party patents, trade secrets, trademarks or copyrights. Any claims relating to the infringement of third-party proprietary rights, even if not meritorious, could result in costly litigation, divert management’s attention and resources, or require the Company to either enter into royalty or license agreements which are not advantageous to the Company or pay material amounts of damages. The Company has been party to a patent infringement case brought against it by MPEG LA, LLC ("MPEG"). During the third quarter of Fiscal 2012, the Company's claim for summary was denied and the case was litigated in the Suffolk County Supreme Court in Riverhead, NY. In December 2011, the Company received advisory judgment in the case, concluding that the Company owes MPEG penalties related to certain patents used in the production of its products. The final judgment is expected in or about February 2012. The Company has recorded a charge of approximately $2.6 million and has remitted payment to MPEG in order to resolve this matter based on the information provided in the summary judgment. The charge has been recorded in "Other (Expense) Income" in the Consolidated Statement of Operations. The Company is currently seeking indemnification from its suppliers for royalty payments that it maintains they were responsible to make and plans to vigorously pursue this option under its indemnification agreements. At this time, we cannot determine the success of those efforts, nor quantify a range of amounts. No receivables have been recorded for any possible gain contingencies for the three months ended November 30, 2011. Management will continue to evaluate the developments associated with final judgment and the negotiations with its suppliers.

Note 21. Subsequent Event Level 1 (Notes)	9 Months Ended
Note 21. Subsequent Event Level 1 (Notes)	Nov. 30, 2011
Subsequent Event [Abstract]
Subsequent Events [Text Block]	Subsequent Events With the exception of those matters discussed in Note 19 with regard to the Company's settlement with MPEG, there were no material subsequent events that required recognition or additional disclosure in these financial statements.

Note 20. New Accounting Pronouncements Level 1 (Notes)	9 Months Ended
Note 20. New Accounting Pronouncements Level 1 (Notes)	Nov. 30, 2011
New Accounting Pronouncements [Abstract]
Description of New Accounting Pronouncements Not yet Adopted [Text Block]	New Accounting Pronouncements In January 2010, the FASB issued authoritative guidance in ASC 820 "Fair Value Measurements and Disclosures" that improves disclosures around fair value measurements. This pronouncement requires additional disclosures regarding transfers between Levels 1, 2 and 3 of the fair value hierarchy of this pronouncement as well as a more detailed reconciliation of recurring Level 3 measurements. Certain disclosure requirements of this pronouncement were effective and adopted by the Company on March 1, 2010. The remaining disclosure requirements of this pronouncement were effective for the Company’s first quarter in Fiscal 2012. The adoption of this pronouncement did not have a material impact on the Company’s financial statements. In January 2011, the FASB issued authoritative guidance included in ASC 805 “Business Combinations” which modifies certain pro-forma disclosures related to business combinations. The guidance was effective for the Company on March 1, 2011, and did not have a material impact on the Company's financial statements. In June 2011, the FASB issued authoritative guidance included in ASC 220 "Comprehensive Income" related to the presentation of comprehensive income. Specifically, the new guidance allows an entity to present components of net income and other comprehensive income in one continuous statement, referred to as the statement of comprehensive income, or in two separate, but consecutive statements. The new guidance eliminates the current option to report other comprehensive income and its components in the statement of changes in equity. While the new guidance changes the presentation of comprehensive income, there are no changes to the components that are recognized in net income or other comprehensive income under current accounting guidance. The adoption of this disclosure-only guidance will not have an impact on the Company's consolidated financial results and is effective for the Company on March 1, 2012. In September 2011, the FASB issued authoritative guidance in ASC 350 "Intangibles - Goodwill and other" intended to simplify goodwill impairment testing. Entities will be allowed to perform a qualitative assessment on goodwill impairment to determine whether it is more likely than not (defined as having a likelihood of more than 50 percent) that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test. This guidance is effective for goodwill impairment tests performed in interim and annual periods for fiscal years beginning after December 15, 2011, or the Company's first quarter of Fiscal 2013. The Company does not expect this guidance will have a material impact on its financial statements.