View Filing Data

Document And Entity Information - shares	6 Months Ended
Document And Entity Information - shares	Feb. 28, 2015	Mar. 31, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Feb. 28, 2015
Amendment Flag	false
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2015
Entity Registrant Name	FRANKLIN COVEY CO
Entity Central Index Key	0000886206
Current Fiscal Year End Date	--08-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		16,859,632

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Feb. 28, 2015	Aug. 31, 2014
Current assets:
Cash and cash equivalents	$ 18,599	$ 10,483
Accounts receivable, less allowance for doubtful accounts of $1,010 and $918	47,987	61,490
Receivable from related party	1,151	1,851
Inventories	5,610	6,367
Income taxes receivable	783	2,432
Deferred income tax assets	4,249	4,340
Prepaid expenses and other current assets	5,759	6,053
Total current assets	84,138	93,016
Property and equipment, net	16,198	17,271
Intangible assets, net	55,265	57,177
Goodwill	19,903	19,641
Long-term receivable from related party	2,747	3,296
Other long-term assets	13,204	14,785
Total assets	191,455	205,186
Current liabilities:
Current portion of financing obligation	1,384	1,298
Accounts payable	7,573	12,001
Accrued liabilities	19,525	29,586
Total current liabilities	28,482	42,885
Financing obligation, less current portion	25,361	26,078
Other liabilities	3,965	3,934
Deferred income tax liabilities	5,984	5,575
Total liabilities	63,792	78,472
Shareholders' equity:
Common stock, $.05 par value; 40,000 shares authorized, 27,056 shares issued	1,353	1,353
Additional paid-in capital	207,050	207,148
Retained earnings	60,751	58,496
Accumulated other comprehensive income	711	1,451
Treasury stock at cost, 10,267 shares and 10,266 shares	(142,202)	(141,734)
Total shareholders' equity	127,663	126,714
Total liabilities and shareholders' equity	$ 191,455	$ 205,186

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Feb. 28, 2015	Aug. 31, 2014
Condensed Consolidated Balance Sheets [Abstract]
Allowance for doubtful accounts	$ 1,010	$ 918
Common stock, par value	$ 0.05	$ 0.05
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	27,056,000	27,056,000
Treasury stock, shares	10,267,000	10,266,000

Condensed Consolidated Income Statements And Statements Of Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2015	Mar. 01, 2014	Feb. 28, 2015	Mar. 01, 2014
Net sales:
Training and consulting services	$ 43,545	$ 43,683	$ 89,018	$ 85,018
Products	1,822	1,747	3,136	3,073
Leasing	949	1,076	2,036	1,833
Total net sales	46,316	46,506	94,190	89,924
Cost of sales:
Training and consulting services	14,934	14,035	30,355	26,449
Products	896	576	1,533	1,083
Leasing	471	484	1,083	951
Total cost of sales	16,301	15,095	32,971	28,483
Gross profit	30,015	31,411	61,219	61,441
Selling, general, and administrative	26,841	25,707	52,540	50,458
Depreciation	1,040	816	2,004	1,601
Amortization	953	989	1,906	1,978
Income from operations	1,181	3,899	4,769	7,404
Interest income	107	109	218	252
Interest expense	(535)	(559)	(1,074)	(1,119)
Discount on related party receivable		(142)	(131)	(283)
Income before income taxes	753	3,307	3,782	6,254
Provision for income taxes	(326)	(1,336)	(1,527)	(2,564)
Net income	$ 427	$ 1,971	$ 2,255	$ 3,690
Net income per share:
Basic	$ 0.03	$ 0.12	$ 0.13	$ 0.22
Diluted	$ 0.02	$ 0.12	$ 0.13	$ 0.22
Weighted average number of common shares:
Basic	16,908	16,717	16,889	16,640
Diluted	17,086	16,926	17,089	16,892
COMPREHENSIVE INCOME:
Net income	$ 427	$ 1,971	$ 2,255	$ 3,690
Foreign currency translation adjustments, net of tax	(88)	26	(740)	(52)
Comprehensive income	$ 339	$ 1,997	$ 1,515	$ 3,638

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Feb. 28, 2015	Mar. 01, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 2,255	$ 3,690
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	3,910	3,579
Share-based compensation expense	1,010	2,244
Amortization of capitalized curriculum costs	1,945	1,051
Deferred income taxes	809	963
Reduction of estimated earn out liability	(28)	(587)
Changes in assets and liabilities:
Decrease in accounts receivable, net	12,914	7,113
Decrease (increase) in inventories	610	(1,018)
Decrease in receivable from related party	1,249	2,743
Decrease (increase) in prepaid expenses and other assets	179	(475)
Decrease in accounts payable and accrued liabilities	(14,145)	(9,838)
Decrease (increase) in income taxes payable/receivable	1,412	(1,267)
Decrease in other long-term liabilities	96	108
Net cash provided by operating activities	12,216	8,306
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment	(993)	(1,720)
Curriculum development costs	(541)	(5,714)
Acquisition of businesses	(262)	(2,250)
Net cash used for investing activities	(1,796)	(9,684)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from line of credit borrowings		7,375
Payments on line of credit borrowings		(7,375)
Principal payments on financing obligation	(635)	(552)
Purchases of common stock for treasury	(1,901)	(3,363)
Proceeds from sales of common stock held in treasury	324	278
Net cash used for financing activities	(2,212)	(3,637)
Effect of foreign currency exchange rates on cash and cash equivalents	(92)	(88)
Net increase (decrease) in cash and cash equivalents	8,116	(5,103)
Cash and cash equivalents at beginning of the period	10,483	12,291
Cash and cash equivalents at end of the period	18,599	7,188
Supplemental disclosure of cash flow information:
Cash paid for income taxes	942	2,729
Cash paid for interest	1,069	1,119
Non-cash investing and financing activities:
Purchases of property and equipment financed by accounts payable	$ 127	$ 53

Basis Of Presentation

6 Months Ended

Feb. 28, 2015

Basis Of Presentation [Abstract]

Basis Of Presentation

NOTE 1 – BASIS OF PRESENTATION

Franklin Covey Co. (hereafter referred to as us, we, our, or the Company) is a global company focused on individual and organizational performance improvement. Our mission is to “enable greatness in people and organizations everywhere,” and our employees worldwide are organized to help individuals and organizations achieve sustained superior performance through changes in human behavior. Our expertise extends to seven crucial areas: Leadership, Execution, Productivity, Trust, Sales Performance, Customer Loyalty, and Educational Improvement. We believe that our clients are able to utilize our content to create cultures whose hallmarks are high-performing, collaborative individuals, led by effective, trust-building leaders who execute with excellence and deliver measurably improved results for all of their key stakeholders.

In the training and consulting marketplace, we believe there are four important characteristics that distinguish us from our competitors.

World Class Content – Our content is principle centered and based on natural laws of human behavior and effectiveness. Our content is designed to build new skillsets, establish new mindsets, and provide enabling toolsets.

Breadth and Scalability of Delivery Options – We have a wide range of content delivery options, including: on-site training, training led through certified facilitators, on-line learning, blended learning, intellectual property licenses, and organization-wide transformational processes, including consulting and coaching.

Global Capability – We operate four regional sales offices and a government services office in the United States; wholly-owned subsidiaries in Australia, Japan, and the United Kingdom; and contract with licensee partners who deliver our curriculum and provide services in over 150 other countries and territories around the world.

Transformational Impact and Reach – We are committed to and measure ourselves by our clients’ achievement of transformational results.

We have some of the best-known offerings in the training industry, including a suite of individual-effectiveness and leadership-development training content based on the best-selling books, The 7 Habits of Highly Effective People, The Speed of Trust, and The 4 Disciplines of Execution, and proprietary content in the areas of Execution, Sales Performance, Productivity, Customer Loyalty, and Education. Our offerings are described in further detail at www.franklincovey.com.

The accompanying unaudited condensed consolidated financial statements reflect, in the opinion of management, all adjustments (consisting of normal recurring accruals) necessary to present fairly the financial position and results of operations of the Company as of the dates and for the periods indicated. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to Securities and Exchange Commission (SEC) rules and regulations. The information included in this quarterly report on Form 10-Q should be read in conjunction with the consolidated financial statements and related notes included in our annual report on Form 10-K for the fiscal year ended August 31, 2014.

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the dates of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.

The Company utilizes a modified 52/53-week fiscal year that ends on August 31 of each year. Corresponding quarterly periods generally consist of 13-week periods that end on November 29, 2014, February 28, 2015, and May 30, 2015 during fiscal 2015. Under the modified 52/53-week fiscal year, the two quarters ended February 28, 2015 had one less business day than the two quarters ended March 1, 2014. Unless otherwise noted, references to fiscal years apply to the 12 months ended on August 31 of the specified year.

The results of operations for the quarter and two quarters ended February 28, 2015 are not necessarily indicative of results expected for the entire fiscal year ending August 31, 2015, or for any future periods.

At February 28, 2015, the carrying value of our financial instruments approximated their fair values. The fair value of the contingent earn out payment liability from the acquisition of Ninety-Five 5, LLC in a prior period is considered a “level 3” measurement because we estimate projected earnings during the earn out period utilizing various potential pay-out scenarios. There have been no significant changes in our valuation process or sensitivity from those disclosed at August 31, 2014.

Inventories

6 Months Ended

Feb. 28, 2015

Inventories [Abstract]

Inventories

NOTE 2 – INVENTORIES

Inventories are stated at the lower of cost or market, cost being determined using the first-in, first-out method, and were comprised of the following (in thousands).



		February 28,		August 31,
		2015		2014
Finished goods	$	5,552	$	6,295
Raw materials		58		72
	$	5,610	$	6,367

Common Stock Buyback Authorization	3 Months Ended
Common Stock Buyback Authorization	Feb. 28, 2015
Common Stock Buyback Authorization [Abstract]
Common Stock Buyback Authorization	NOTE 3 – COMMON STOCK BUYBACK AUTHORIZATION On January 23, 2015, our Board of Directors approved a new plan to repurchase up to $10.0 million of the Company’s outstanding common stock. All previously existing common stock repurchase plans were canceled and the new common share repurchase plan does not have an expiration date. Following approval of this common stock repurchase plan, we have purchased a total of 88,959 shares of our common stock for $1.6 million through February 28, 2015. On March 27, 2015, our Board of Directors increased the aggregate value of shares of Company common stock that may be purchased under the January 2015 plan to $40.0 million so long as we have either $10.0 million in cash and cash equivalents or have access to debt financing of at least $10.0 million. However, the actual timing, number, and value of common shares repurchased under this plan will be determined at our discretion and will depend on a number of factors, including, among others, general market and business conditions, the trading price of common shares, and applicable legal requirements. The Company has no obligation to repurchase any common shares under the authorization, and the repurchase plan may be suspended, discontinued, or modified at any time for any reason.

Share-Based Compensation

6 Months Ended

Feb. 28, 2015

Share-Based Compensation [Abstract]

Share-Based Compensation

NOTE 4 – SHARE-BASED COMPENSATION

The cost of our share-based compensation plans is included in selling, general, and administrative expenses in the accompanying condensed consolidated income statements. The total cost of our share-based compensation plans was as follows for the periods presented (in thousands).



		Quarter Ended			Two Quarters Ended
		February 28,		March 1,		February 28,		March 1,
		2015		2014		2015		2014
Performance awards	$	476	$	873	$	775	$	2,008
Unvested share awards		100		83		175		183
Employee stock purchase plan		32		27		60		53
	$	608	$	983	$	1,010	$	2,244

On January 23, 2015 our shareholders approved the 2015 Omnibus Incentive Plan (the 2015 Plan), which authorized an additional 1.0 million shares of common stock for issuance to employees and members of the Board of Directors as share-based payments. The 2015 Plan allows various types of share awards, including performance awards, unvested awards, stock options, or fully-vested awards as directed by the Organization and Compensation Committee of the Board of Directors (the Organization and Compensation Committee). We believe that the 2015 Plan will provide sufficient available shares to grant awards over the next several years, based on current expectations of grants in future periods. A more detailed description of the 2015 Plan is set forth in the Company’s Proxy Statement filed with the SEC on December 22, 2014.

During the quarter and two quarters ended February 28, 2015, we issued approximately 60,000 shares and 79,000 shares, respectively, of our common stock to employees and non-employee members of our Board of Directors for various share-based compensation awards. The following is a description of developments in our share-based compensation plans during the quarter and two quarters ended February 28, 2015.

Performance Awards

On November 20, 2014, the Compensation Committee granted new performance-based equity awards for our executive officers. During the quarter ended February 28, 2015, the Compensation Committee approved awards to four additional participants with the same vesting conditions as the award approved on November 20, 2014. The new grant was for a total of 4,342 shares. Combined with the previously granted shares, a total of 112,464 shares may be awarded to the participants based on six individual vesting conditions that are divided into two performance measures, trailing four-quarter adjusted earnings before interest, taxes, depreciation, and amortization (Adjusted EBITDA) and increased sales of Leadership, Productivity, and Trust practice sales (the Practice Sales) as shown below.



	Adjusted EBITDA				Practice Sales
	Award				Award
	Goal	Number of	Tranche		Goal	Number of	Tranche
	(thousands)	Shares	Status		(thousands)	Shares	Status
$	39,600	26,241	not vested	$	107,000	11,247	not vested
$	45,500	26,241	not vested	$	118,000	11,247	not vested
$	52,300	26,241	not vested	$	130,000	11,247	not vested
		78,723				33,741

These performance awards have a maximum life of six years and compensation expense is recognized as we determine it is probable that the shares will vest. Adjustments to compensation expense to reflect the timing of and the number of shares expected to be awarded will be made on a cumulative basis at the date of the adjustment.

Compensation expense recognized during the quarter and two quarters ended February 28, 2015 for performance awards includes expense related to awards granted in previous periods for which the performance targets are probable of being achieved.

Unvested Share Awards

Our annual unvested share awards granted to non-employee members of our Board of Directors is administered under the terms of the 2015 Omnibus Incentive Plan, and is designed to provide our non-employee directors, who are not eligible to participate in our employee stock purchase plan, an opportunity to obtain an interest in the Company through the acquisition of shares of our common stock. The annual unvested award is usually granted in January (following the annual shareholders’ meeting) of each year. For the fiscal 2015 award, each eligible director received a whole-share grant equal to $75,000 with a one-year vesting period. Our unvested share award activity during the quarter ended February 28, 2015 consisted of the following:



			Weighted-Average
			Grant Date
	Number of		Fair Value
	Shares		Per Share
Unvested stock awards at
November 29, 2014	14,616	$	20.53
Granted	24,210		18.59
Forfeited	-		-
Vested	(14,616)		20.53
Unvested stock awards at
February 28, 2015	24,210	$	18.59

At February 28, 2015, there was approximately $0.4 million of unrecognized compensation expense associated with the fiscal 2015 Board of Director unvested share award.

Employee Stock Purchase Plan

We have an employee stock purchase plan (ESPP) that offers qualified employees the opportunity to purchase shares of our common stock at a price equal to 85 percent of the average fair market value of our common stock on the last trading day of the calendar month in each fiscal quarter. During the quarter and two quarters ended February 28, 2015, we issued 9,972 shares and 19,996 shares of our common stock to participants in the ESPP.

Earnings Per Share

6 Months Ended

Feb. 28, 2015

Earnings Per Share [Abstract]

Earnings Per Share

NOTE 5 – EARNINGS PER SHARE

The following is a reconciliation from basic earnings per share (EPS) to diluted EPS (in thousands, except per-share amounts).



	Quarter Ended				Two Quarters Ended
		February 28,		March 1,		February 28,		March 1,
		2015		2014		2015		2014
Numerator for basic and
diluted earnings per share:
Net income	$	427	$	1,971	$	2,255	$	3,690

Denominator for basic and
diluted earnings per share:
Basic weighted average shares
outstanding		16,908		16,717		16,889		16,640
Effect of dilutive securities:
Stock options and other
share-based awards		178		209		200		252
Diluted weighted average
shares outstanding		17,086		16,926		17,089		16,892

EPS Calculations:
Net income per share:
Basic	$	0.03	$	0.12	$	0.13	$	0.22
Diluted		0.02		0.12		0.13		0.22

Other securities, including performance share-based compensation instruments, may have a dilutive effect on our EPS calculation in future periods if our financial results reach specified targets.

Segment Information

6 Months Ended

Feb. 28, 2015

Segment Information [Abstract]

Segment Information

NOTE 6 – SEGMENT INFORMATION

Our sales are primarily comprised of training and consulting sales and related products. Based on the consistent nature of our services and products and the types of customers for these services, we function as a single operating segment. However, to improve comparability with previous periods, operating information for our U.S./Canada, international, and corporate services operations is presented below. Our U.S./Canada operations are responsible for the sale and delivery of our training and consulting services in the United States and Canada. Our international sales group includes the financial results of our directly owned foreign offices and royalty revenues from licensees. Our corporate services information includes leasing income and certain corporate operating expenses.

The Company’s chief operating decision maker is the Chief Executive Officer, and the primary measurement tool used in business unit performance analysis is Adjusted EBITDA, which may not be calculated as similarly titled amounts calculated by other companies. For segment reporting purposes, our consolidated Adjusted EBITDA can be calculated as our income from operations excluding share-based compensation, depreciation expense, amortization expense, and certain other charges such as adjustments for changes in the fair value of contingent earn out liabilities from previous business acquisitions.

In the normal course of business, we may make structural and cost allocation revisions to our enterprise information to reflect new reporting responsibilities within the organization. There were no significant organizational or structural changes during the quarter ended February 28, 2015 that would affect the comparability of the enterprise information presented below. We account for our enterprise information on the same basis as the accompanying condensed consolidated financial statements.

ENTERPRISE INFORMATION

(in thousands)



		Sales to
Quarter Ended		External				Adjusted
February 28, 2015		Customers		Gross Profit		EBITDA		Depreciation		Amortization

U.S./Canada	$	34,618	$	21,129	$	142	$	582	$	952
International		10,749		8,401		4,896		76		1
Total		45,367		29,530		5,038		658		953
Corporate and eliminations		949		485		(1,191)		382		-
Consolidated	$	46,316	$	30,015	$	3,847	$	1,040	$	953

Quarter Ended
March 1, 2014

U.S./Canada	$	34,910	$	22,335	$	3,045	$	407	$	987
International		10,520		8,484		4,604		79		2
Total		45,430		30,819		7,649		486		989
Corporate and eliminations		1,076		592		(1,029)		330		-
Consolidated	$	46,506	$	31,411	$	6,620	$	816	$	989

Two Quarters Ended
February 28, 2015

U.S./Canada	$	70,156	$	43,135	$	1,831	$	1,087	$	1,904
International		21,998		17,124		10,278		159		2
Total		92,154		60,259		12,109		1,246		1,906
Corporate and eliminations		2,036		960		(2,383)		758		-
Consolidated	$	94,190	$	61,219	$	9,726	$	2,004	$	1,906

Two Quarters Ended
March 1, 2014

U.S./Canada	$	67,204	$	43,638	$	5,483	$	781	$	1,974
International		20,887		16,921		9,494		158		4
Total		88,091		60,559		14,977		939		1,978
Corporate and eliminations		1,833		882		(2,337)		662		-
Consolidated	$	89,924	$	61,441	$	12,640	$	1,601	$	1,978

A reconciliation of our consolidated Adjusted EBITDA to consolidated income before income taxes is provided below (in thousands).



	Quarter Ended				Two Quarters Ended
		February 28,		March 1,		February 28,		March 1,
		2015		2014		2015		2014
Enterprise Adjusted EBITDA	$	5,038	$	7,649	$	12,109	$	14,977
Corporate expenses		(1,191)		(1,029)		(2,383)		(2,337)
Consolidated Adjusted EBITDA		3,847		6,620		9,726		12,640
Share-based compensation expense		(608)		(983)		(1,010)		(2,244)
Reduction of contingent earn
out liability		-		67		28		587
Other		(65)		-		(65)		-
Depreciation		(1,040)		(816)		(2,004)		(1,601)
Amortization		(953)		(989)		(1,906)		(1,978)
Income from operations		1,181		3,899		4,769		7,404
Interest income		107		109		218		252
Interest expense		(535)		(559)		(1,074)		(1,119)
Discount on related party receivable		-		(142)		(131)		(283)
Income before income taxes	$	753	$	3,307	$	3,782	$	6,254

We reassess the fair value of expected contingent consideration and the corresponding liability resulting from the fiscal 2013 acquisition of NinetyFive 5, LLC (Ninety Five 5) each period. The reduction of the liability for the two quarters ended February 28, 2015 totaled approximately $28,000 and is reflected in selling, general, and administrative expenses on our consolidated income statements. However, the impact of these adjustments is not included in our consolidated Adjusted EBITDA

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

+ Details

Investment In FC Organizational Products	6 Months Ended
Investment In FC Organizational Products	Feb. 28, 2015
Investment In FC Organizational Products [Abstract]
Investment In FC Organizational Products	NOTE 7 – INVESTMENT IN FC ORGANIZATIONAL PRODUCTS We own a 19.5 percent interest in FC Organizational Products (FCOP), an entity that purchased substantially all of our consumer solution business unit assets in fiscal 2008 for the purpose of expanding the sales of planners and related organizational products under a comprehensive licensing agreement. During a previous period, we reconsidered whether FCOP was a variable interest entity as defined under FASC 810, and determined that FCOP was a variable interest entity. We further determined that we are not the primary beneficiary of FCOP because we do not have the ability to direct the activities that most significantly impact FCOP’s economic performance, which primarily consist of the day-to-day sale of planning products and related accessories, and we do not have an obligation to absorb losses or the right to receive benefits from FCOP that could potentially be significant. Our voting rights and management board representation approximate our ownership interest and we are unable to exercise control through voting interests or through other means. We are required to account for our investment in FCOP using the equity method of accounting. However, we have not recorded our share of FCOP’s losses in the accompanying condensed consolidated income statements because we have impaired and written off investment balances in previous periods, as defined within the applicable accounting guidance, in excess of our share of FCOP’s losses through February 28, 2015. Our primary exposure related to FCOP is from amounts owed to us by FCOP. We receive reimbursement from FCOP for certain operating costs and for working capital or other advances that we may make to FCOP although we are not contractually required to make advances to FCOP. The operations of FCOP are primarily financed by the sale of planning products and accessories in the normal course of business. The majority of FCOP’s sales and cash flows are seasonal and occur between October and January. Accordingly, we generally receive payment on outstanding receivables during our second and third quarters of each fiscal year. During the quarter ended February 28, 2015 we received $2.3 million of cash from FCOP for payment on these receivables. Subsequent to February 28, 2015 we received an additional $0.6 million of cash from FCOP as expected. We had $3.9 million (net of $2.0 million discount) receivable at February 28, 2015 and $5.1 million (net of $2.1 million discount) receivable at August 31, 2014 from FCOP, which are classified as components of current and long-term assets in our condensed consolidated balance sheets based on expected payment dates. The long-term receivable has been discounted using a rate of 15 percent.

Knowledge Capital Registration Statement	6 Months Ended
Knowledge Capital Registration Statement	Feb. 28, 2015
Knowledge Capital Registration Statement
Knowledge Capital Registration Statement	NOTE 8 – KNOWLEDGE CAPITAL REGISTRATION STATEMENT Pursuant to a fiscal 2011 warrant exercise agreement with Knowledge Capital Investment Group (Knowledge Capital), we filed an initial registration statement on Form S-3 on November 21, 2014 with the SEC to register shares held by Knowledge Capital. Following completion of a review by the SEC, we filed an amended registration statement that was declared effective on January 26, 2015. At February 28, 2015, Knowledge Capital held 3.2 million shares of our common stock, and no shares have been sold by Knowledge Capital under the newly filed registration statement. Two members of our Board of Directors, including our Chief Executive Officer, have an equity interest in Knowledge Capital.

Subsequent Events	6 Months Ended
Subsequent Events	Feb. 28, 2015
Subsequent Events [Abstract]
Subsequent Events	NOTE 9 – SUBSEQUENT EVENTS Line Of Credit Agreement On March 31, 2015, we entered into the Fourth Modification Agreement to our previously existing amended and restated secured credit agreement (the Restated Credit Agreement) with our existing lender. The primary purposes of the Fourth Modification Agreement are to (i) increase the maximum principal amount of the line of credit from $10.0 million to $30.0 million; (ii) extend the maturity date of the Restated Credit Agreement from March 31, 2016 to March 31, 2018; (iii) reduce the applicable interest rate from LIBOR plus 2.50 percent to LIBOR plus 1.85 percent per annum; (iv) reduce the unused commitment fee from 0.33 percent to 0.25 percent per annum; and (v) increase the cap for permitted business acquisitions from $5.0 million to $10.0 million. The Fourth Modification Agreement preserves the existing financial covenants at February 28, 2015 and adds a new asset coverage ratio whereby we may not permit the outstanding balance of the line of credit to exceed 150 percent of our consolidated accounts receivable. The proceeds from the Restated Credit Agreement may continue to be used for general corporate purposes.

Inventories (Tables)

6 Months Ended

Feb. 28, 2015

Inventories [Abstract]

Components Of Inventories



		February 28,		August 31,
		2015		2014
Finished goods	$	5,552	$	6,295
Raw materials		58		72
	$	5,610	$	6,367

Share-Based Compensation (Tables)

6 Months Ended

Feb. 28, 2015

Share-Based Compensation [Abstract]

Total Cost Of Share-Based Compensation



		Quarter Ended			Two Quarters Ended
		February 28,		March 1,		February 28,		March 1,
		2015		2014		2015		2014
Performance awards	$	476	$	873	$	775	$	2,008
Unvested share awards		100		83		175		183
Employee stock purchase plan		32		27		60		53
	$	608	$	983	$	1,010	$	2,244

Schedule Of Executive Awards



	Adjusted EBITDA				Practice Sales
	Award				Award
	Goal	Number of	Tranche		Goal	Number of	Tranche
	(thousands)	Shares	Status		(thousands)	Shares	Status
$	39,600	26,241	not vested	$	107,000	11,247	not vested
$	45,500	26,241	not vested	$	118,000	11,247	not vested
$	52,300	26,241	not vested	$	130,000	11,247	not vested
		78,723				33,741

Unvested Stock Awards



			Weighted-Average
			Grant Date
	Number of		Fair Value
	Shares		Per Share
Unvested stock awards at
November 29, 2014	14,616	$	20.53
Granted	24,210		18.59
Forfeited	-		-
Vested	(14,616)		20.53
Unvested stock awards at
February 28, 2015	24,210	$	18.59

Earnings Per Share (Tables)

6 Months Ended

Feb. 28, 2015

Earnings Per Share [Abstract]

Computation Of EPS



	Quarter Ended				Two Quarters Ended
		February 28,		March 1,		February 28,		March 1,
		2015		2014		2015		2014
Numerator for basic and
diluted earnings per share:
Net income	$	427	$	1,971	$	2,255	$	3,690

Denominator for basic and
diluted earnings per share:
Basic weighted average shares
outstanding		16,908		16,717		16,889		16,640
Effect of dilutive securities:
Stock options and other
share-based awards		178		209		200		252
Diluted weighted average
shares outstanding		17,086		16,926		17,089		16,892

EPS Calculations:
Net income per share:
Basic	$	0.03	$	0.12	$	0.13	$	0.22
Diluted		0.02		0.12		0.13		0.22

Segment Information (Tables)

6 Months Ended

Feb. 28, 2015

Segment Information [Abstract]

Schedule Of Segment Operations



		Sales to
Quarter Ended		External				Adjusted
February 28, 2015		Customers		Gross Profit		EBITDA		Depreciation		Amortization

U.S./Canada	$	34,618	$	21,129	$	142	$	582	$	952
International		10,749		8,401		4,896		76		1
Total		45,367		29,530		5,038		658		953
Corporate and eliminations		949		485		(1,191)		382		-
Consolidated	$	46,316	$	30,015	$	3,847	$	1,040	$	953

Quarter Ended
March 1, 2014

U.S./Canada	$	34,910	$	22,335	$	3,045	$	407	$	987
International		10,520		8,484		4,604		79		2
Total		45,430		30,819		7,649		486		989
Corporate and eliminations		1,076		592		(1,029)		330		-
Consolidated	$	46,506	$	31,411	$	6,620	$	816	$	989

Two Quarters Ended
February 28, 2015

U.S./Canada	$	70,156	$	43,135	$	1,831	$	1,087	$	1,904
International		21,998		17,124		10,278		159		2
Total		92,154		60,259		12,109		1,246		1,906
Corporate and eliminations		2,036		960		(2,383)		758		-
Consolidated	$	94,190	$	61,219	$	9,726	$	2,004	$	1,906

Two Quarters Ended
March 1, 2014

U.S./Canada	$	67,204	$	43,638	$	5,483	$	781	$	1,974
International		20,887		16,921		9,494		158		4
Total		88,091		60,559		14,977		939		1,978
Corporate and eliminations		1,833		882		(2,337)		662		-
Consolidated	$	89,924	$	61,441	$	12,640	$	1,601	$	1,978

Schedule Of EBITDA Segment



	Quarter Ended				Two Quarters Ended
		February 28,		March 1,		February 28,		March 1,
		2015		2014		2015		2014
Enterprise Adjusted EBITDA	$	5,038	$	7,649	$	12,109	$	14,977
Corporate expenses		(1,191)		(1,029)		(2,383)		(2,337)
Consolidated Adjusted EBITDA		3,847		6,620		9,726		12,640
Share-based compensation expense		(608)		(983)		(1,010)		(2,244)
Reduction of contingent earn
out liability		-		67		28		587
Other		(65)		-		(65)		-
Depreciation		(1,040)		(816)		(2,004)		(1,601)
Amortization		(953)		(989)		(1,906)		(1,978)
Income from operations		1,181		3,899		4,769		7,404
Interest income		107		109		218		252
Interest expense		(535)		(559)		(1,074)		(1,119)
Discount on related party receivable		-		(142)		(131)		(283)
Income before income taxes	$	753	$	3,307	$	3,782	$	6,254

Basis Of Presentation (Details)	6 Months Ended
Basis Of Presentation (Details)	Feb. 28, 2015 item
Basis Of Presentation [Abstract]
Number of regional offices	4
Number of countries in which entity operates	150

Inventories (Details) - USD ($) $ in Thousands	Feb. 28, 2015	Aug. 31, 2014
Inventories [Abstract]
Finished goods	$ 5,552	$ 6,295
Raw materials	58	72
Inventories	$ 5,610	$ 6,367

Common Stock Buyback Authorization (Details) - USD ($) $ in Thousands			3 Months Ended
	Mar. 27, 2015	Jan. 23, 2015	Feb. 28, 2015	Aug. 31, 2014	Mar. 01, 2014	Aug. 31, 2013
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount		$ 10,000
Cash and cash equivalents			$ 18,599	$ 10,483	$ 7,188	$ 12,291
Stock repurchased during period, shares			88,959
Stock repurchased during period, value			$ 1,600
Subsequent Event [Member]
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount	$ 40,000
Minimum [Member] \| Subsequent Event [Member]
Equity, Class of Treasury Stock [Line Items]
Cash and cash equivalents	10,000
Available cash for debt financing for repurchase common stock	$ 10,000

Share-Based Compensation Plans (Narrative) (Details) $ in Thousands		3 Months Ended	6 Months Ended
	Jan. 23, 2015 shares	Feb. 28, 2015 USD ($) item shares	Feb. 28, 2015 USD ($) item shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized additional shares of common stock for issuance	1,000,000
Shares issued under terms of the award		60,000	79,000
Price of common stock as a percent of the average fair market value		85.00%	85.00%
Shares issued to employee stock purchase plan participants		9,972	19,996
Performance Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for granting		112,464	112,464
Number of additional individual vesting conditions \| item		4	4
Shares granted		4,342	4,342
Number of individual vesting conditions \| item		6	6
Number of performance measures \| item		2	2
Life of awards		6 years	6 years
Unvested Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost \| $		$ 400	$ 400
Whole-share grant per eligible director \| $			$ 75
Vesting period of awards			1 year

Share-Based Compensation Plans (Total Cost Of Share-Based Compensation) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2015	Mar. 01, 2014	Feb. 28, 2015	Mar. 01, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost	$ 608	$ 983	$ 1,010	$ 2,244
Performance Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost	476	873	775	2,008
Unvested Share Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost	100	83	175	183
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost	$ 32	$ 27	$ 60	$ 53

Share-Based Compensation Plans (Schedule Of Executive Awards) (Details)	6 Months Ended
	Feb. 28, 2015 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
EBITDA Award, Shares	78,723
Sales Revenue Award, Shares	33,741
Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
EBITDA Award Goal \| $	$ 39,600
EBITDA Award, Shares	26,241
Sales Revenue Award Goal \| $	$ 107,000
Sales Revenue Award, Shares	11,247
Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
EBITDA Award Goal \| $	$ 45,500
EBITDA Award, Shares	26,241
Sales Revenue Award Goal \| $	$ 118,000
Sales Revenue Award, Shares	11,247
Tranche Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
EBITDA Award Goal \| $	$ 52,300
EBITDA Award, Shares	26,241
Sales Revenue Award Goal \| $	$ 130,000
Sales Revenue Award, Shares	11,247

Share-Based Compensation Plans (Unvested Stock Awards) (Details)	3 Months Ended
	Feb. 28, 2015 $ / shares shares
Share-Based Compensation [Abstract]
Unvested stock awards at November 29, 2014, Number of Shares \| shares	14,616
Granted, Number of Shares \| shares	24,210
Vested, Number of Shares \| shares	(14,616)
Unvested stock awards at February 28, 2015, Number of Shares \| shares	24,210
Unvested stock awards at November 29, 2014, Weighted-Average Grant-Date Fair Value Per Share \| $ / shares	$ 20.53
Granted, Weighted-Average Grant-Date Fair Value Per Share \| $ / shares	18.59
Vested, Weighted-Average Grant-Date Fair Value Per Share \| $ / shares	20.53
Unvested stock awards at February 28, 2015, Weighted-Average Grant-Date Fair Value Per Share \| $ / shares	$ 18.59

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2015	Mar. 01, 2014	Feb. 28, 2015	Mar. 01, 2014
Earnings Per Share [Abstract]
Net income	$ 427	$ 1,971	$ 2,255	$ 3,690
Basic weighted average shares outstanding	16,908	16,717	16,889	16,640
Stock options and other share-based awards	178	209	200	252
Diluted weighted average shares outstanding	17,086	16,926	17,089	16,892
Net income per share, Basic	$ 0.03	$ 0.12	$ 0.13	$ 0.22
Net income per share, Diluted	$ 0.02	$ 0.12	$ 0.13	$ 0.22

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e565-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 19
-Article 5

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9

+ Details

Segment Information (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Mar. 01, 2014	Feb. 28, 2015	Mar. 01, 2014
Segment Information [Abstract]
Reduction of contingent earnout liability	$ (67)	$ (28)	$ (587)

Segment Information (Schedule Of Segment Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2015	Mar. 01, 2014	Feb. 28, 2015	Mar. 01, 2014
Segment Reporting Information [Line Items]
Sales to external customers	$ 46,316	$ 46,506	$ 94,190	$ 89,924
Gross Profit	30,015	31,411	61,219	61,441
Adjusted EBITDA	3,847	6,620	9,726	12,640
Depreciation	1,040	816	2,004	1,601
Amortization	953	989	1,906	1,978
Operating Segments [Member]
Segment Reporting Information [Line Items]
Sales to external customers	45,367	45,430	92,154	88,091
Gross Profit	29,530	30,819	60,259	60,559
Adjusted EBITDA	5,038	7,649	12,109	14,977
Depreciation	658	486	1,246	939
Amortization	953	989	1,906	1,978
Corporate And Eliminations [Member]
Segment Reporting Information [Line Items]
Sales to external customers	949	1,076	2,036	1,833
Gross Profit	485	592	960	882
Adjusted EBITDA	(1,191)	(1,029)	(2,383)	(2,337)
Depreciation	382	330	758	662
United States/Canada [Member]
Segment Reporting Information [Line Items]
Sales to external customers	34,618	34,910	70,156	67,204
Gross Profit	21,129	22,335	43,135	43,638
Adjusted EBITDA	142	3,045	1,831	5,483
Depreciation	582	407	1,087	781
Amortization	952	987	1,904	1,974
International [Member]
Segment Reporting Information [Line Items]
Sales to external customers	10,749	10,520	21,998	20,887
Gross Profit	8,401	8,484	17,124	16,921
Adjusted EBITDA	4,896	4,604	10,278	9,494
Depreciation	76	79	159	158
Amortization	$ 1	$ 2	$ 2	$ 4

Segment Information (Schedule Of EBITDA Segment) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Feb. 28, 2015	Mar. 01, 2014	Feb. 28, 2015	Mar. 01, 2014
Segment Reporting Information [Line Items]
Enterprise Adjusted EBITDA	$ 3,847	$ 6,620	$ 9,726	$ 12,640
Share-based compensation expense	(608)	(983)	(1,010)	(2,244)
Reduction of contingent earn out liability		67	28	587
Other	(65)		(65)
Depreciation	(1,040)	(816)	(2,004)	(1,601)
Amortization	(953)	(989)	(1,906)	(1,978)
Income from operations	1,181	3,899	4,769	7,404
Interest income	107	109	218	252
Interest expense	(535)	(559)	(1,074)	(1,119)
Discount on related party receivable		(142)	(131)	(283)
Income before income taxes	753	3,307	3,782	6,254
Operating Segments [Member]
Segment Reporting Information [Line Items]
Enterprise Adjusted EBITDA	5,038	7,649	12,109	14,977
Depreciation	(658)	(486)	(1,246)	(939)
Amortization	(953)	(989)	(1,906)	(1,978)
Corporate And Eliminations [Member]
Segment Reporting Information [Line Items]
Enterprise Adjusted EBITDA	(1,191)	(1,029)	(2,383)	(2,337)
Depreciation	$ (382)	$ (330)	$ (758)	$ (662)

Investment In FC Organizational Products (Details) - USD ($) $ in Millions	1 Months Ended	6 Months Ended
	Apr. 09, 2015	Feb. 28, 2015	Aug. 31, 2014
Related Party Transaction [Line Items]
Percent voting interest in FCOP		19.50%
Receivable from FCOP		$ 3.9	$ 5.1
Discount on receivable from FCOP		$ 2.0	$ 2.1
Discount rate on long-term receivable from FCOP		15.00%
Cash received from FCOP		$ 2.3
Subsequent Event [Member]
Related Party Transaction [Line Items]
Cash received from FCOP	$ 0.6

Knowledge Capital Registration Statement (Details) - Knowledge Capital [Member] shares in Millions	6 Months Ended
	Feb. 28, 2015 item shares
Common stock owned by related party	3.2
Shares sold by related party	0.0
Number of board members with equity interest in related party \| item	2

Subsequent Events (Details) - Revolving Line Of Credit [Member] - Subsequent Event [Member] $ in Millions	Mar. 31, 2015 USD ($)
Subsequent Event [Line Items]
Maximum borrowing capacity	$ 10.0
Maturity date	Mar. 31, 2016
Percentage added to LIBOR rate	2.50%
Unused credit fee	0.33%
Limit on capital expenditures	$ 5.0
Fourth Modification Agreement [Member]
Subsequent Event [Line Items]
Maximum borrowing capacity	$ 30.0
Maturity date	Mar. 31, 2018
Percentage added to LIBOR rate	1.85%
Unused credit fee	0.25%
Limit on capital expenditures	$ 10.0
Fourth Modification Agreement [Member] \| Maximum [Member]
Subsequent Event [Line Items]
Asset coverage ratio	150.00%