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Document and Entity Information Document - shares	3 Months Ended
Document and Entity Information Document - shares	May 31, 2012	Jul. 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	May 31, 2012
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		23,397,749

Balance Sheets - USD ($) $ in Thousands	May 31, 2012	Feb. 29, 2012
Current assets:
Cash and cash equivalents	$ 21,277	$ 13,606
Accounts receivable, net	139,174	142,585
Inventory, net	152,781	129,514
Receivables from vendors	3,840	4,011
Prepaid expenses and other current assets	12,524	13,549
Income tax receivable	0	698
Deferred income taxes	5,033	3,149
Total current assets	334,629	307,112
Investment securities	13,004	13,102
Equity investments	15,860	14,893
Property, plant and equipment, net	60,841	31,779
Goodwill	158,230	87,366
Intangible Assets, net	196,431	175,349
Deferred income taxes	756	796
Other assets	8,457	3,782
Total assets	788,208	634,179
Current liabilities:
Accounts payable	59,448	43,755
Accrued expenses and other current liabilities	63,750	52,679
Income taxes payable	5,139	5,432
Accrued Sales Incentives	18,075	18,154
Deferred income taxes	301	515
Current portion of long-term debt	18,201	3,592
Total current liabilities	164,914	124,127
Long-term debt	145,505	34,860
Capital lease obligation	5,984	5,196
Deferred compensation	3,593	3,196
Other tax liabilities	2,921	2,943
Deferred tax liabilities	39,237	34,220
Other long-term liabilities	11,741	7,840
Total liabilities	373,895	212,382
Commitments and contingencies
Stockholders' equity:
Preferred stock	0	0
Common Stock	252	250
Paid-in capital	282,753	281,213
Retained earnings	157,976	162,676
Accumulated other comprehensive (loss)	(8,299)	(3,973)
Treasury stock	(18,369)	(18,369)
Total stockholders' equity	414,313	421,797
Total liabilities and stockholders' equity	$ 788,208	$ 634,179

Statement of Operations - USD ($) $ in Thousands	3 Months Ended
Statement of Operations - USD ($) $ in Thousands	May 31, 2012	May 31, 2011
Statement of Operations [Abstract]
Net sales	$ 194,036	$ 165,325
Cost of sales	143,540	121,637
Gross profit	50,496	43,688
Operating expenses:
Selling	13,205	11,904
General and administrative	25,225	22,653
Engineering and technical support	7,411	3,811
Acquisition-related costs	1,596	1,343
Total operating expenses	47,437	39,711
Operating income (loss)	3,059	3,977
Other (expense) income:
Interest and bank charges	2,244	1,483
Equity in income of equity investees	1,357	1,129
Other, net	(9,656)	481
Total other (expense) income, net	(10,543)	127
(Loss) income before income taxes	(7,484)	4,104
Income tax (benefit) expense	(2,784)	1,617
Net (loss) income	(4,700)	2,487
Other comprehensive (loss) income:
Foreign currency translation adjustments	(4,622)	1,327
Derivatives designated for hedging	296	(704)
Other-than-temporary impairment loss on available for sale investment	0	300
Unrealized holding loss on available-for-sale investment securities arising during the period, net of tax	0	(12)
Other comprehensive (loss) income, net of tax	(4,326)	911
Total comprehensive (loss) income	$ (9,026)	$ 3,398
Net (loss) income per common share (basic)	$ (0.20)	$ 0.11
Net (loss) income per common share (diluted)	$ (0.20)	$ 0.11
Weighted-average common shares outstanding (basic)	23,301,464	23,079,394
Weighted-average common shares outstanding (diluted)	23,301,464	23,287,621

Statement of Cash Flows - USD ($) $ in Thousands	3 Months Ended
Statement of Cash Flows - USD ($) $ in Thousands	May 31, 2012	May 31, 2011
Cash flows from operating activities:
Net (loss) income	$ (4,700)	$ 2,487
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	2,784	2,541
Bad debt (recovery) expense	(51)	293
Equity in income of equity investees	(1,357)	(1,129)
Distribution of income from equity investees	391	279
Deferred income tax (benefit) expense	(2,020)	358
Non-cash compensation adjustment	113	(36)
Non-cash stock based compensation expense	63	250
(Gain) loss on sale of property, plant and equipment	(12)	11
Impairment loss on marketable securities	0	300
Changes in operating assets and liabilities (net of assets and liabilities acquired):
Accounts receivable	25,565	19,038
Inventory	(6,497)	6,029
Receivables from vendors	267	618
Prepaid expenses and other	2,825	(973)
Investment securities-trading	316	(27)
Accounts payable, accrued expenses, accrued sales incentives and other current liabilities	6,607	(249)
Income taxes payable	(4,139)	(1,042)
Net cash provided by operating activities	20,155	28,748
Cash flows from investing activities:
Purchases of property, plant and equipment	(8,439)	(484)
Purchase of long-term investments	(261)	0
Increase in notes receivable	40	59
Purchase of acquired business (net of cash acquired)	(107,628)	(167,250)
Net cash used in investing activities	(116,288)	(167,675)
Cash flows from financing activities:
Repayment of short-term debt	0	(268)
Principal payments on capital lease obligation	(75)	(22)
Repayment of bank obligations	(41,364)	(29,439)
Borrowings on bank obligations	147,817	89,100
Deferred financing costs	(3,445)	(3,000)
Proceeds from exercise of stock options	1,539	0
Net cash provided by financing activities	104,472	56,371
Effect of exchange rate changes on cash	(668)	163
Net increase (decrease) in cash and cash equivalents	7,671	(82,393)
Cash and cash equivalents at beginning of period	13,606	98,630
Cash and cash equivalents at end of period	$ 21,277	$ 16,237

Basis of Presntation Level 1 (Notes)	3 Months Ended
Basis of Presntation Level 1 (Notes)	May 31, 2012
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”) 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 29, 2012. We have determined that we operate in one reportable segment, the Electronics Group, based on review of ASC 280 “Segment Reporting”.

Acquisitions Level 1 (Notes)

3 Months Ended

May 31, 2012

Acquisitions [Abstract]

Business Combination Disclosure [Text Block]

Acquisitions

Hirschmann

On March 14, 2012 (the "Closing Date"), VOXX International, through its wholly-owned subsidiary VOXX International (Germany) GmbH ("Voxx Germany"), purchased the stock of Car Communication Holding GmbH ("Hirschmann"), a recognized tier-1 supplier of communications and infotainment solutions, primarily to the automotive industry, pursuant to the Sale and Purchase Agreement for €87,571 ($114,397 based upon the rate of exchange as of the close of business on the Closing Date) subject to an adjustment for working capital plus related transaction fees and expenses.

On the Closing Date, the Company, certain of its directly and indirectly wholly-owned domestic subsidiaries, and Voxx Germany (collectively, the “Borrowers”) entered into an Amended and Restated Credit Agreement (the “Amended Facility”) with Wells Fargo Bank, National Association (“Wells Fargo”), as Agent, and the other lenders party thereto. The Company borrowed $148,000 under the Amended Credit Agreement on the Closing Date and used a portion of the proceeds from such borrowing to fund Voxx Germany's acquisition of Hirschmann. On the Closing Date, the Company also repaid and terminated its existing asset-based loan facility with Wells Fargo Capital Finance, LLC.

In order to hedge the fluctuation in the exchange rate before closing, the Company entered into two forward contracts totaling $63,750, both due in March 2012. The forward contracts were not designated for hedging, and as such, were marked to market at February 29, 2012 and when they were settled in the first quarter of Fiscal 2013. A foreign currency gain of $1,581 was recorded in the fourth quarter of Fiscal 2012 when the contracts were marked to market at year-end and a foreign currency loss of $2,670 was recorded for the three months ended May 31, 2012 reflecting the loss on settlement of these contracts.

As the Hirschmann acquisition occurred on March 14, 2012, the consolidated financial statements presented for the three months ended May 31, 2012 include the operations of Hirschmann beginning on the Closing Date.

The Company is currently in the process of performing a formal valuation 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 14, 2012
Cash	$	6,769
Accounts receivable	25,921
Inventory	20,178
Prepaid expenses and other current assets	2,281
Property, plant and equipment, net	18,659
Goodwill	70,864
Intangible assets	22,433
Other assets	940
Total assets acquired	168,045
Accounts payable and accrued expenses	26,953
Income taxes payable	2,848
Deferred taxes, net	5,639
Bank obligations	11,430
Capital lease obligations	911
Pension and deferred compensation	5,867
Net tangible and intangible assets acquired	$	114,397

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



	March 14, 2012		Amortization Period (Years)
Goodwill (non-deductible)	$	70,864	N/A
Tradenames (non-deductible)	6,761		Indefinite
Customer relationships	9,376		10
Patents	6,296		10
	$	93,297

Acquisition related costs relating to this acquisition of $1,131 and $1,596 were expensed as incurred during the year ended February 29, 2012 and during the three months ended May 31, 2012, respectively, and are included in acquisition-related costs for these respective periods in the consolidated statements of operations and comprehensive income (loss).

Hirschmann has an employer financed defined benefit pension plan, which covers eligible Hirschmann regular full-time employees. The plan provides for retirement and disability benefits for participating employees, and are only granted if the participating employee has completed ten years of service after reaching the age of 25. The retirement age as it pertains to the defined pension plan is 65. Benefits available under the pension plan are generally determined by years of service and the levels of compensation during those years. In October 1994, the benefits under Hirschmann's defined benefit pension plan were closed to new participants, and as of the acquisition date, pension benefits continue to accrue only for previously existing plan members still employed by Hirschmann. Based on actuarial data provided as of the acquisition date, the Hirschmann defined benefit pension plan was under-funded by approximately $5,300, which is included as a liability in the March 14, 2012 opening balance sheet. The under-funded status of the plan at May 31, 2012 is $5,046 and is included in other liabilities in the accompanying consolidated balance sheet.

Pro Forma Information

The following unaudited pro forma information illustrates the effect on net sales and net income for the three months ended May 31, 2012 and May 31, 2011, assuming that the acquisition had taken place on March 1, 2011.



	Three Months Ended
	May 31, 2012			May 31, 2011
Net sales:
As reported	$	194,036		$	165,325
Pro forma	201,550			212,758
Net income:
As reported	$	(4,700	)	$	2,487
Pro forma	(745		)	5,349
Basic earnings per share:
As reported	$	(0.20	)	$	0.11
Pro forma	(0.03		)	0.23
Diluted earnings per share:
As reported	$	(0.20	)	$	0.11
Pro forma	(0.03		)	0.23
Average shares - basic	23,301,464			23,079,394
Average shares - diluted	23,301,464			23,287,621

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 2012. These adjustments include costs such as an estimate for amortization associated with intangible assets acquired, additional financing costs as a result of the acquisition, and the movement of expenses specific to the acquisition from Fiscal 2013 to Fiscal 2012. 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

Net Income Per Common Share Level 1 (Notes)

3 Months Ended

May 31, 2012

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 May 31,
	2012	2011
Weighted-average common shares outstanding	23,301,464	23,079,394
Effect of dilutive securities:
Stock options, warrants and restricted stock	—	208,227
Weighted-average common shares and potential common shares outstanding	23,301,464	23,287,621

Stock options and warrants totaling 921,019 and 14,606 for the three months ended May 31, 2012 and 2011, respectively, were not included in the net income (loss) 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.

Fair Value Measurements Level 1 (Notes)

3 Months Ended

May 31, 2012

Fair Value Measurements [Abstract]

Fair Value Disclosures [Text Block]

Fair Value Measurements and Derivatives

The Company applies the 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 May 31, 2012:



			Fair Value Measurements at Reporting Date Using
			Level 1		Level 2		Level 3
Cash and cash equivalents:
Cash and money market funds	$	21,277	$	21,277	$	—	$	—
Derivatives
Designated for hedging	$	654	$	—	$	654	$	—
Not designated	148		—		148		—
Total derivatives	$	802	$	—	$	802	$	—
Long-term investment securities:
Marketable securities at fair value
Trading securities	$	3,130	$	3,130	$	—	$	—
Available-for-sale securities	3		3		—		—
Total marketable securities at fair value	3,133		3,133		—		—
Other investments at amortized cost (a)	9,871		—		—		—
Total long-term investment securities	$	13,004	$	3,133	$	—	$	—

The following table presents assets measured at fair value on a recurring basis at February 29, 2012:



				Fair Value Measurements at Reporting Date Using
				Level 1		Level 2			Level 3
Cash and cash equivalents:
Cash and money market funds	$	13,606		$	13,606	$	—		$	—
Derivatives
Designated for hedging	$	(103	)	$	—	$	(103	)	$	—
Not designated	1,581			—		1,581			—
Total derivatives	$	1,478		$	—	$	1,478		$	—
Long-term investment securities:
Marketable securities at fair value
Trading securities	$	3,447		$	3,447	$	—		$	—
Available-for-sale securities	3			3		—			—
Total marketable securities at fair value	3,450			3,450		—			—
Other investments at amortized cost (a)	9,652			—		—			—
Total long-term investment securities	$	13,102		$	3,450	$	—		$	—


(a)	Other investments at amortized cost include the Company's held-to-maturity investment. 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 for the same or similar instruments (Level 2). Forward foreign currency contracts not designated under hedged transactions were valued at spot rates or forward rates for the same or similar instruments (Level 2). The duration of open forward foreign currency contracts designated for hedging 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 Comprehensive Income (Loss) and amounted to $179 and $(90) for the three months ended May 31, 2012 and 2011, respectively.

Financial Statement Classification

The Company holds derivative instruments that are designated as hedging instruments, and holds certain instruments not so designated. The following table discloses the fair value as of May 31, 2012 and February 29, 2012 for both types of derivative instruments:



	Derivative Assets and Liabilities
		Fair Value
	Account	May 31, 2012		February 29, 2012
Designated derivative instruments
Foreign currency contracts	Prepaid expenses and other current assets	$	654	$	—
	Accrued expenses	—		(103		)

Derivatives not designated
Foreign currency contracts	Prepaid expenses and other current assets	148		1,581

Total derivatives		$	802	$	1,478

During the three months ended May 31, 2012, the Company settled two foreign currency contracts for derivatives not designated in a hedged transaction. In connection with the acquisition of Hirschmann on March 14, 2012, the Company acquired 36 foreign currency contracts which were unable to qualify for hedge accounting for the quarter ended May 31, 2012. There were 28 contracts of this nature outstanding at May 31, 2012, with a current notional value of approximately $7,000. During the three months ended May 31, 2011, the Company settled one foreign currency contract for a derivative not designated in a hedged transaction. There were no contracts of this nature outstanding at May 31, 2011.

Cash flow hedges

In February 2012, the Company entered into forward foreign currency contracts, which have a current outstanding notional value of $5,275, 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 (loss) income 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 months ended May 31, 2012 and 2011 was as follows:



	For The Three Months Ended							For The Three Months Ended
	May 31, 2012							May 31, 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	$	475	$	(171	)	$	179	$	(466	)	$	8	$	(90	)

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 May 31, 2012, 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 Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13537-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13504-108611

Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15B
-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 8: 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 9: 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 10: 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 11: 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 12: 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 13: 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.

+ Details

Investment Securities Level 1 (Notes)

3 Months Ended

May 31, 2012

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 May 31, 2012 and February 29, 2012, the Company had the following investments:



	May 31, 2012						February 29, 2012
	Cost Basis		Unrealized holding gain/(loss)		Fair Value		Cost Basis		Unrealized holding gain/(loss)		Fair Value
Long-Term Investments
Marketable Securities
Trading
Deferred Compensation	$	3,130	$	—	$	3,130	$	3,447	$	—	$	3,447
Available-for-sale
Cellstar	—		3		3		—		3		3
Bliss-tel	—		—		—		—		—		—
Held-to-maturity Investment	7,556		—		7,556		7,545		—		7,545
Total Marketable Securities	10,686		3		10,689		10,992		3		10,995
Other Long-Term Investment	2,315		—		2,315		2,107		—		2,107
Total Long-Term Investments	$	13,001	$	3	$	13,004	$	13,099	$	3	$	13,102

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.

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. During Fiscal 2010, Fiscal 2011 and Fiscal 2012, the Company monitored the performance of its Bliss-tel investment and determined that its investment in the company was other than temporarily impaired based on factors, such as its market price (which has consistently remained below cost in excess of twelve months), Bliss-tel's continued losses, its deteriorating financial position, and conditions in the local and global economy, as well as the political environment in Thailand. During Fiscal 2010 and Fiscal 2011, the Company recorded other than temporary impairment losses of $1,000 and $1,600, respectively. During Fiscal 2012, Bliss-tel stopped trading on the Thai stock exchange and has remained suspended from trading through May 31, 2012. As a result of this suspension, and the continued presence of the factors discussed above, management estimated the value of the investment to be $0 at February 29, 2012 and recorded total impairment charges of $1,225 for the fiscal year ended February 29, 2012. As of May 31, 2012, the Company owns 36,250,000 shares and 22,500,000 warrants in Bliss-tel, with the warrants due to expire in July 2012. As all of the above factors remain present and the company remains suspended from trading, management's estimate of the value of this investment remains $0 at May 31, 2012.

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 $2,315 accounted for by the cost method. During the three months ended May 31, 2012, Voxx loaned an additional $250 in the Company and as of May 31, 2012, held approximately 16% of its outstanding shares.

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-Glossary Debt Security
-URI http://asc.fasb.org/extlink&oid=6509901

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 30
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
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-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27290-111563

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-Glossary Equity Security
-URI http://asc.fasb.org/extlink&oid=6511694

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
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-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27232-111563

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-URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803

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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 320
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-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27405-111563

Reference 10: 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.

+ Details

Other Comprehensive Income Level 1 (Notes)

3 Months Ended

May 31, 2012

Other Comprehensive Income [Abstract]

Other Comprehensive Income, Noncontrolling Interest [Text Block]

Other Comprehensive Loss

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



	May 31, 2012			February 29, 2012
Accumulated other comprehensive losses:
Foreign exchange losses	$	(8,681	)	$	(4,059	)
Unrealized losses on investments, net of tax	(21		)	(21		)
Derivatives designated in hedging relationship	403			107
Total accumulated other comprehensive losses	$	(8,299	)	$	(3,973	)

Supplemental Cash Flow Information Level 1 (Notes)

3 Months Ended

May 31, 2012

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:



	Three Months Ended May 31,
	2012		2011
Non-cash investing activities:
Capital expenditures funded by mortgage notes	7,810		—
Cash paid during the period:
Interest (excluding bank charges)	$	1,636	$	932
Income taxes (net of refunds)	$	1,876	$	254

Accounting for Stock-Based Compensation Level 1 (Notes)

3 Months Ended

May 31, 2012

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 29, 2012.

The Company granted 246,250 options during May of 2011, which vested 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 warrants table below and considered exercisable at May 31, 2012.

As of May 31, 2012, all outstanding options were fully vested and the Company had no unrecognized compensation costs related to stock options.

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 29, 2012	1,070,625		$	6.72
Granted	—		—
Exercised	(241,927	)	6.37
Forfeited/expired	—		—
Outstanding and exercisable at May 31, 2012	828,698		$	6.81	1.24

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. One-third of the restricted stock awards vested on February 29, 2012, one-third will vest on February 28, 2013 and one-third will vest 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, was 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 three months ended May 31, 2012:



	Number of shares (in thousands)	Weighted Average Grant Date Fair Value
Balance at February 29, 2012	66,667	$	7.60
Granted	—	—
Vested	—	—
Forfeited	—	—
Balance at May 31, 2012	66,667	$	7.60

During the three months ended May 31, 2012, the Company recorded $63 in stock-based compensation related to restricted stock awards. As of May 31, 2012, there was $443 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 Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 40
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
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-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 7: 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 8: 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.

+ Details

Goodwill and Intangible Assets Level 1 (Notes)

3 Months Ended

May 31, 2012

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 29, 2012	$	87,366
Goodwill related to Hirschmann acquisition	70,864
Balance at May 31, 2012	$	158,230

At May 31, 2012, intangible assets consisted of the following:



	Gross Carrying Value		Accumulated Amortization		Total Net Book Value
Trademarks/Tradenames not subject to amortization	$	136,526	$	—	$	136,526
Customer relationships subject to amortization (5-20 years)	59,490		8,484		51,006
Trademarks/Tradenames subject to amortization (3-12 years)	1,237		744		493
Patents subject to amortization (5-10 years)	9,238		1,190		8,048
License subject to amortization (5 years)	1,400		1,283		117
Contract subject to amortization (5 years)	1,556		1,315		241
Total	$	209,447	$	13,016	$	196,431

At February 29, 2012, intangible assets consisted of the following:



	Gross Carrying Value		Accumulated Amortization		Total Net Book Value
Trademarks/Tradenames/Licenses not subject to amortization	$	129,765	$	—	$	129,765
Customer relationships subject to amortization (5-20 years)	50,113		7,432		42,681
Trademarks/Tradenames subject to amortization (3-12 years)	1,237		722		515
Patents subject to amortization (5-10 years)	2,942		1,005		1,937
License subject to amortization (5 years)	1,400		1,213		187
Contract subject to amortization (5 years)	1,556		1,292		264
Total	$	187,013	$	11,664	$	175,349

The Company recorded amortization expense of $1,336 and $1,045 for the three months ended May 31, 2012 and 2011, respectively. The estimated aggregate amortization expense for the cumulative five years ending May 31, 2017 amounts to $26,798.

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 primarily by using a discounted cash flow methodology that requires considerable management judgment and long-term assumptions. There were no impairment triggering events during the three months ended May 31, 2012, 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

Equity Investments Level 1 (Notes)

3 Months Ended

May 31, 2012

Equity Investments [Abstract]

Equity Method Investments Disclosure [Text Block]

Equity Investments

As of May 31, 2012 and February 29, 2012, the Company had a 50% non-controlling ownership interest in ASA Electronics, LLC and Subsidiary (“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.



	May 31, 2012		February 29, 2012
Current assets	$	31,018	$	28,934
Non-current assets	5,263		5,068
Current liabilities	4,561		4,216
Members' equity	31,720		29,786
	Three Months Ended May 31,
	2012		2011
Net sales	$	23,415	$	20,673
Gross profit	6,515		6,054
Operating income	2,703		2,249
Net income	2,714		2,257

The Company's share of income from ASA for the three months ended May 31, 2012 and 2011 was $1,357 and $1,129, respectively.

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

+ References + Details

Income Taxes Level 1 (Notes)	3 Months Ended
Income Taxes Level 1 (Notes)	May 31, 2012
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 2013, excluding discrete items is estimated to be 37.4% (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 May 31, 2012 the Company recorded a benefit for income taxes of $2,784, 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." For the three months ended May 31, 2011, the Company recorded a provision for income taxes of $1,617 which consisted of U. S., state, local and foreign taxes, including discrete items related to the accrual of interest for uncertain tax positions under ASC 740 and a change in the tax rates. In connection with the Hirschmann business combination, the Company recorded a net deferred tax liability of approximately $6,800 related to the basis difference between the financial reporting value and the tax value of Hirschmann'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

+ Details

Inventory Level 1 (Notes)

3 Months Ended

May 31, 2012

Inventory [Abstract]

Inventory Disclosure [Text Block]

Inventory

Inventories by major category are as follows:



	May 31, 2012		February 29, 2012
Raw materials	$	27,709	$	18,495
Work in process	5,104		1,888
Finished goods	119,968		109,131
Inventory, net	$	152,781	$	129,514

Accrued Sales Incentives Level 1 (Notes)

3 Months Ended

May 31, 2012

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 May 31,
	2012			2011
Opening balance	$	18,154		$	11,981
Liabilities acquired during acquisition	—			7,149
Accruals	7,613			7,496
Payments and credits	(7,333		)	(8,009		)
Reversals for unearned sales incentive	(320		)	(28		)
Reversals for unclaimed sales incentives	(39		)	(294		)
Ending balance	$	18,075		$	18,295

Product Warranties and Product Repair Costs Level 1 (Notes)

3 Months Ended

May 31, 2012

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 May 31,
	2012			2011
Opening balance	$	8,795		$	9,051
Liabilities acquired during acquisitions	1,799			1,480
Liabilities accrued for warranties issued during the period	2,367			1,162
Warranty claims paid during the period	(2,516		)	(2,184		)
Ending balance	$	10,445		$	9,509

Financing Arrangements Level 1 (Notes)

3 Months Ended

May 31, 2012

Financing Arrangements [Abstract]

Debt Disclosure [Text Block]

Financing Arrangements

The Company has the following financing arrangements:



	May 31, 2012		February 29, 2012
Debt
Domestic bank obligations (a)	$	150,285	$	31,510
Foreign bank obligations (b)	1,560		1,818
Euro term loan agreement (c)	1,239		2,024
Other (d)	10,622		3,100
Total debt	163,706		38,452
Less: current portion of long-term debt	18,201		3,592
	$	145,505	$	34,860

(a) Domestic Bank Obligations

From March 1, 2012 through March 13, 2012, we had a revolving credit facility (the "Credit Facility"). Funds from the Credit Facility were used to complete the acquisition of Klipsch in March 2011, as well as to fund the temporary short-term working capital needs of the Company. The Credit Facility had an aggregated committed availability of up to $175 million, which could be increased at the option of the Company up to a maximum of $200 million. The Credit Facility included a $25 million sublimit for issuances of letters of credit and a $20 million sublimit for Swing Loans.

The Credit Agreement contained covenants that limited 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.

As a result of the addition of the Credit Facility, the Company incurred debt financing costs of approximately $3.3 million which are recorded as deferred financing costs that are included in other assets and amortized through interest and bank charges over the term of the Credit Facility.

On March 14, 2012, the Company amended and restated its $175 million Credit Facility (the "Amended Facility"). The Amended Facility provides for senior secured credit facilities in an aggregate principal amount of $205 million, consisting of a U.S. revolving credit facility of $80 million; a $50 million multicurrency revolving facility, of which up to the equivalent of $50 million is available only to VOXX International (Germany) GmbH in euros and the euro equivalent of $15 million available to domestic borrowers; and a five year term loan facility in the aggregate principal amount of $75 million. The Amended Facility includes a $25 million sublimit for issuers of letters of credit for domestic borrowings and a $10 million sublimit for Swing Loans.

$60 million of the U. S. revolving credit facility is available on a revolving basis for five years from the closing date. An additional $20 million is available during the three month periods from September 1, 2012 through November 30, 2012 and from September 1, 2013 through November 30, 2013.

Generally, the Company may designate specific borrowings under the Amended Facility as either Alternate Base Rate Loans or LIBOR Rate Loans, except that Swing Loans may only be designated as Alternate Base Rate Loans. VOXX International (Germany) GmbH may only borrow euros, and only as LIBOR 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 1.25 - 2.25% based on excess availability in the borrowing base. Loans designated as Alternate Base Rate loans shall bear interest at a rate equal to the base rate plus an applicable margin ranging from 0.25 - 1.25% based on excess availability in the borrowing base. As of May 31, 2012, the interest rate on the facility was 2.24%.

The $75 million five year term loan facility is payable in twenty quarterly installments of principal commencing May 31, 2012, each in the amount of $3,750. All other amounts outstanding under the Amended Facility will mature and become due on March 13, 2017. 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 Amended Facility may be irrevocably reduced at any time without premium or penalty.

The Amended Facility requires compliance with the following financial covenants calculated as of the last day of each fiscal quarter: (a) Total Leverage Ratio (i) from the Closing Date through February 28, 2013 of less than or equal to 3.25 to 1.00; (ii) from March 1, 2013 through February 28, 2014 of less than or equal to 3.0 to 1.00; and (iii) from March 1, 2014 to Maturity Date of less than or equal to 2.75 to 1.00, and (b) Consolidated EBIT to Consolidated Interest Expense Ratio of greater than or equal to 3.0 to 1.00.

The Amended Facility 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 respective businesses; (iv) make any material change in the nature of their business; (v) prepay or otherwise acquire indebtedness; (vi) cause any Change of Control; (vii) make any Restricted Payments; (viii) change their fiscal year or method of accounting; (ix) make advances, loans or investments; (x) enter into or permit any transaction with an Affiliate of certain entities of the Company; or (xi) use proceeds for certain items (including capital expenditures).

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

The Obligations under the Amended Facility are secured by a general lien on and security interest in the assets of certain entities of the Company, including accounts receivable, equipment, substantially all of the real estate, general intangibles and inventory provided that the assets of Hirschman Car Communication GmbH and the foreign guarantors will only secure the Foreign Obligations. All Guarantors other than subsidiaries of Hirschmann Car Communication GmbH have jointly and severally guaranteed (or will jointly and severally guarantee) the obligations of any and all Credit Party Obligations, and each Foreign Guarantor will jointly and severally guarantee the obligations of Hirschmann Car Communications GmbH under the Credit Agreement (i.e., the Foreign Obligations).

On March 14, 2012, the Company borrowed approximately $148 million under this amended credit facility as a result of its stock purchase agreement related to Hirschmann. As of May 31, 2012, approximately $150 million was outstanding under the line.

As a result of the amendment to the Credit Facility, the Company incurred additional debt financing costs of approximately $3.4 million which are recorded as deferred financing costs. The Company has accounted for the amendment as a modification of debt and has added these costs to the remaining financing costs related to the original Credit Facility. These deferred financing costs have been included in other assets on the accompanying consolidated balance sheet and are being amortized through interest and bank charges over the five year term of the Amended Facility. During the three months ended May 31, 2012 and 2011, the Company amortized $302 and $170, respectively, of deferred financing 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% (2.57% at May 31, 2012), and the Company pays 0.22% of its gross sales as a fee for the accounts receivable factoring arrangement. As of May 31, 2012, the amount of accounts receivable available for factoring exceeded the amounts outstanding under this obligation.

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 VOXX International 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 cannot 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 VOXX International Corporation.

(d) Other Debt

This amount includes an assumed liability in connection with the Company's Invision acquisition, which was repaid during the fourth quarter of Fiscal 2012, as well as a note payable on a facility acquired in connection with the Company's Klipsch acquisition and a mortgage note on a building purchased by the Company's Schwaiger subsidiary. Additionally, on April 20, 2012, the Company purchased the building housing Klipsch's headquarters in Indianapolis, IN for $10.9 million. The Company paid $3.1 million cash at closing, plus $106 in closing costs, and assumed the mortgage held by the seller, Woodview LLC, in the amount of $7.8 million. The mortgage is due in June 2013 and bears interest at 5.85%. Woodview LLC is a related party, as certain partners are executives of Klipsch.

At May 31, 2012 Hirschmann has a line of credit with an availability of up to 6,000€. The line was to expire on June 30, 2012 and has been extended 60 days through August 31, 2012. The rate of interest is the three month Euribor plus 1%. As of May 31, 2012, the outstanding balance on this line of credit was $0.

- 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

Other Income (Expense) Level 1 (Notes)

3 Months Ended

May 31, 2012

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 May 31,
	2012			2011
Loss on foreign currency contracts	$	(2,670	)	$	—
Net settlement charges related to patent lawsuit	(8,365		)	—
Interest income	177			151
Rental income	193			140
Miscellaneous	1,009			190
Total other, net	$	(9,656	)	$	481

Miscellaneous includes income related to a legal settlement received by Klipsch of $800 recorded during the three months ended May 31, 2012.

Foreign Currency Level 1 (Notes)	3 Months Ended
Foreign Currency Level 1 (Notes)	May 31, 2012
Foreign Currency [Abstract]
Foreign Currency Disclosure [Text Block]	Foreign Currency The Company has certain operations in Venezuela. Venezuela has 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 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 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 Accounting Standards Codification
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Reference 8: 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.

+ Details

Lease Obligations Level 1 (Notes)

3 Months Ended

May 31, 2012

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.

Total lease payments required under all related party leases for the five-year period ending May 31, 2017 are $6,515.

At May 31, 2012, 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
2013	$	574	$	9,260
2014	574		7,476
2015	574		3,612
2016	574		2,592
2017	602		1,316
Thereafter	7,136		879
Total minimum lease payments	10,034		$	25,135
Less: minimum sublease income	250
Net	9,784
Less: amount representing interest	3,646
Present value of net minimum lease payments	6,138
Less: current installments included in accrued expenses and other current liabilities	154
Long-term capital obligation	$	5,984

The Company leases certain facilities from its principal stockholder. At May 31, 2012, 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	$	1,337
2013	1,360
2014	1,384
2015	1,408
2016	1,026
Thereafter	6,310
Total	$	12,825

- 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. Capital Structure

3 Months Ended

May 31, 2012

Capital Structure [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

The Company's capital structure is as follows:



			Shares Authorized		Shares Outstanding
Security	Par Value		May 31, 2012	February 29, 2012	May 31, 2012	February 29, 2012	Voting Rights per Share	Liquidation Rights
Preferred Stock	$	50.00	50,000	50,000	—	—	—	$50 per share
Series Preferred Stock	$	0.01	1,500,000	1,500,000	—	—	—
Class A Common Stock	$	0.01	60,000,000	60,000,000	21,136,795	20,875,600	One	Ratably with Class B
Class B Common Stock	$	0.01	10,000,000	10,000,000	2,260,954	2,260,954	Ten	Ratably with Class A
Treasury Stock at cost	at cost		1,817,132	1,817,112	—	—	—

- Definition

The entire disclosure for shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable). Including, but not limited to: (1) balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings; (2) accumulated balance for each classification of other comprehensive income and total amount of comprehensive income; (3) amount and nature of changes in separate accounts, including the number of shares authorized and outstanding, number of shares issued upon exercise and conversion, and for other comprehensive income, the adjustments for reclassifications to net income; (4) rights and privileges of each class of stock authorized; (5) basis of treasury stock, if other than cost, and amounts paid and accounting treatment for treasury stock purchased significantly in excess of market; (6) dividends paid or payable per share and in the aggregate for each class of stock for each period presented; (7) dividend restrictions and accumulated preferred dividends in arrears (in aggregate and per share amount); (8) retained earnings appropriations or restrictions, such as dividend restrictions; (9) impact of change in accounting principle, initial adoption of new accounting principle and correction of an error in previously issued financial statements; (10) shares held in trust for Employee Stock Ownership Plan (ESOP); (11) deferred compensation related to issuance of capital stock; (12) note received for issuance of stock; (13) unamortized discount on shares; (14) description, terms, and number of warrants or rights outstanding; (15) shares under subscription and subscription receivables, effective date of new retained earnings after quasi-reorganization and deficit eliminated by quasi-reorganization and, for a period of at least ten years after the effective date, the point in time from which the new retained dates; and (16) retroactive effective of subsequent change in capital structure.

+ References

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+ Details

Contingencies and Derivative Settlement Level 1 (Notes)	3 Months Ended
Contingencies and Derivative Settlement Level 1 (Notes)	May 31, 2012
Contingencies and Derivative Settlement [Abstract]
Legal Matters and Contingencies [Text Block]	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: 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 breach of license agreement lawsuit brought against it by MPEG LA, LLC ("MPEG"). During the third quarter of Fiscal 2012, the Company's claim for summary judgment was denied and the case was tried in the New York Supreme Court, Suffolk County. In December 2011, the Company received advisory judgment in the case, concluding that the Company owed MPEG penalties related to license agreement obligations arising from the manufacture and sale of its products. The Company recorded a charge of approximately $3.6 million in Fiscal 2012 and, based on the advisory jury's verdict, remitted payment of $2.6 million to MPEG in December 2011 in order to resolve this matter. On May 29, 2012, the Company received notice that the advisory judgment was overturned by the presiding Judge in the case. The Judge's ruling gave the Company and MPEG the option to (a) reach an agreement on the balance still owed; (b) allow the Judge to determine the balance; or (c) proceed to another trial and have a new jury determine the balance owed. On June 29, 2012, the Company reached a settlement agreement with MPEG and agreed to pay an additional $10.5 million in final resolution of the matter. The payment is in addition to the $2.6 million paid in December 2011, bringing the total settlement to $13.1 million. As a result of this settlement, the Company recorded a charge of $9.5 million during the first quarter of Fiscal 2013. The charge has been recorded in "Other (Expense) Income" in the Consolidated Statement of Operations. The Company continues seeking indemnification from its suppliers for royalty payments previously paid to them that it maintains they were responsible to remit to MPEG and plans to vigorously pursue its option under its indemnification agreements. The Company completed negotiations with one vendor for an amount of $1.1 million, which has been recorded as an offset to the settlement expense as a recovery in "Other (Expense)Income" on the Consolidated Statement of Operations and Comprehensive Income (Loss), for a net charge of $8.4 million. At this time, we cannot determine the success of any additional efforts, nor quantify a range of amounts. Management will continue to evaluate the developments associated with the negotiations with its suppliers.

New Accounting Pronouncements Level 1 (Notes)	3 Months Ended
New Accounting Pronouncements Level 1 (Notes)	May 31, 2012
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 May 2011, ASC 820 was further amended to clarify certain disclosure requirements and improve consistency with international financial reporting standards. This amendment is to be applied prospectively and is effective for the Company's first quarter of Fiscal 2013. The adoption has not had a material effect 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 did not have an impact on the Company's consolidated financial results and has been adopted by the Company for the first quarter of Fiscal 2013. 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 has adopted this guidance as of March 1, 2012 and does not expect the guidance to have a material impact on its financial statements.

Subsequent Event Level 1 (Notes)	3 Months Ended
Subsequent Event Level 1 (Notes)	May 31, 2012
Subsequent Event [Abstract]
Subsequent Events [Text Block]	Subsequent Events With the exception of those matters discussed in Note 20 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.