Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Aug. 03, 2019 | Sep. 03, 2019 | |
Document and Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Aug. 3, 2019 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | AstroNova, Inc. | |
Entity Central Index Key | 0000008146 | |
Current Fiscal Year End Date | --01-31 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Accelerated Filer | |
Trading Symbol | ALOT | |
Entity Shell Company | false | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Title of 12(b) Security | Common Stock | |
Security Exchange Name | NASDAQ | |
Entity Address, State or Province | RI | |
Entity Common Stock, Shares Outstanding | 7,049,735 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Aug. 03, 2019 | Jan. 31, 2019 |
CURRENT ASSETS | ||
Cash and Cash Equivalents | $ 4,523 | $ 7,534 |
Accounts Receivable, net | 20,605 | 23,486 |
Inventories, net | 36,854 | 30,161 |
Prepaid Expenses and Other Current Assets | 3,059 | 1,427 |
Total Current Assets | 65,041 | 62,608 |
Property, Plant and Equipment, net | 10,910 | 10,380 |
Intangible Assets, net | 27,493 | 29,674 |
Goodwill | 12,075 | 12,329 |
Deferred Tax Assets, net | 3,480 | 2,928 |
Right of Use Assets | 1,760 | |
Other Assets | 921 | 1,064 |
TOTAL ASSETS | 121,680 | 118,983 |
CURRENT LIABILITIES | ||
Accounts Payable | 9,403 | 5,956 |
Accrued Compensation | 2,700 | 5,023 |
Other Liabilities and Accrued Expenses | 3,285 | 2,911 |
Current Portion of Long-Term Debt | 5,024 | 5,208 |
Revolving Credit Facility | 3,500 | 1,500 |
Current Liability – Royalty Obligation | 2,000 | 1,875 |
Current Liability – Excess Royalty Payment Due | 647 | 1,265 |
Deferred Revenue | 321 | 373 |
Income Taxes Payable | 554 | |
Total Current Liabilities | 26,880 | 24,665 |
NON CURRENT LIABILITIES | ||
Long-Term Debt, net of current portion | 10,295 | 12,870 |
Royalty Obligation, net of current portion | 8,964 | 9,916 |
Lease Liabilities, net of current portion | 1,364 | |
Deferred Tax Liabilities | 504 | 40 |
Other Long-Term Liabilities | 1,585 | 1,717 |
TOTAL LIABILITIES | 49,592 | 49,208 |
SHAREHOLDERS' EQUITY | ||
Common Stock, $0.05 Par Value, Authorized 13,000,000 shares; Issued 10,315,550 shares and 10,218,559 shares at August 3, 2019 and January 31, 2019, respectively | 516 | 511 |
Additional Paid-in Capital | 55,121 | 53,568 |
Retained Earnings | 51,180 | 49,511 |
Treasury Stock, at Cost, 3,279,831 and 3,261,672 shares at August 3, 2019 and January 31, 2019, respectively | (33,454) | (32,997) |
Accumulated Other Comprehensive Loss, net of tax | (1,275) | (818) |
TOTAL SHAREHOLDERS' EQUITY | 72,088 | 69,775 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 121,680 | $ 118,983 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Aug. 03, 2019 | Jan. 31, 2019 |
Statement of Financial Position [Abstract] | ||
Common Stock, Par Value | $ 0.05 | $ 0.05 |
Common Stock, Shares Authorized | 13,000,000 | 13,000,000 |
Common Stock, Shares Issued | 10,315,550 | 10,218,559 |
Treasury Stock, Shares | 3,279,831 | 3,261,672 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019 | Jul. 28, 2018 | Aug. 03, 2019 | Jul. 28, 2018 | |
Income Statement [Abstract] | ||||
Revenue | $ 33,468 | $ 33,807 | $ 69,649 | $ 65,294 |
Cost of Revenue | 21,491 | 20,408 | 43,433 | 39,784 |
Gross Profit | 11,977 | 13,399 | 26,216 | 25,510 |
Operating Expenses: | ||||
Selling and Marketing | 6,413 | 6,397 | 13,178 | 12,898 |
Research and Development | 1,785 | 2,029 | 3,792 | 3,721 |
General and Administrative | 2,616 | 2,808 | 5,615 | 5,462 |
Operating Expenses | 10,814 | 11,234 | 22,585 | 22,081 |
Operating Income | 1,163 | 2,165 | 3,631 | 3,429 |
Other Expense, net | (183) | (512) | (550) | (782) |
Income before Income Taxes | 980 | 1,653 | 3,081 | 2,647 |
Income Tax Provision | 29 | 459 | 429 | 639 |
Net Income | $ 951 | $ 1,194 | $ 2,652 | $ 2,008 |
Net Income per Common Share—Basic: | $ 0.14 | $ 0.17 | $ 0.38 | $ 0.29 |
Net Income per Common Share—Diluted: | $ 0.13 | $ 0.17 | $ 0.36 | $ 0.29 |
Weighted Average Number of Common Shares Outstanding-Basic | 7,021 | 6,860 | 6,996 | 6,825 |
Weighted Average Number of Common Shares Outstanding-Diluted | 7,371 | 7,083 | 7,310 | 6,999 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019 | Jul. 28, 2018 | Aug. 03, 2019 | Jul. 28, 2018 | |
Statement of Comprehensive Income [Abstract] | ||||
Net Income | $ 951 | $ 1,194 | $ 2,652 | $ 2,008 |
Other Comprehensive Income (Loss), Net of Taxes and Reclassification Adjustments: | ||||
Foreign Currency Translation Adjustments | (81) | (349) | (253) | (618) |
Change in Value of Derivatives Designated as Cash Flow Hedge | (116) | 245 | 545 | |
Losses (Gains) from Cash Flow Hedges Reclassified to Income Statement | (60) | (255) | (204) | (455) |
Realized (Gain) Loss on Securities Available for Sale reclassified to income statement | (3) | 3 | ||
Other Comprehensive Income (Loss) | (257) | (362) | (457) | (525) |
Comprehensive Income | $ 694 | $ 832 | $ 2,195 | $ 1,483 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Treasury Stock [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Beginning Balance at Jan. 31, 2018 | $ 63,647 | $ 500 | $ 50,016 | $ 45,700 | $ (32,397) | $ (172) |
Beginning Balance, Shares at Jan. 31, 2018 | 9,996,120 | |||||
Share-Based Compensation | 363 | 363 | ||||
Employee Option Exercises | 489 | $ 3 | 574 | (88) | ||
Employee Option Exercises, Shares | 53,010 | |||||
Restricted Stock Awards Vested, net | (40) | $ 1 | (1) | (40) | ||
Restricted Stock Awards Vested, net, Shares | 16,981 | |||||
Common Stock – Cash Dividend—$0.07 per share | (480) | (480) | ||||
Net Income | 814 | 814 | ||||
Other Comprehensive Loss | (163) | (163) | ||||
Ending Balance at Apr. 28, 2018 | 64,630 | $ 504 | 50,952 | 46,034 | (32,525) | (335) |
Ending Balance, Shares at Apr. 28, 2018 | 10,066,111 | |||||
Beginning Balance at Jan. 31, 2018 | 63,647 | $ 500 | 50,016 | 45,700 | (32,397) | (172) |
Beginning Balance, Shares at Jan. 31, 2018 | 9,996,120 | |||||
Net Income | 2,008 | |||||
Other Comprehensive Loss | (525) | |||||
Ending Balance at Jul. 28, 2018 | 65,488 | $ 507 | 51,877 | 46,761 | (32,960) | (697) |
Ending Balance, Shares at Jul. 28, 2018 | 10,136,497 | |||||
Beginning Balance at Apr. 28, 2018 | 64,630 | $ 504 | 50,952 | 46,034 | (32,525) | (335) |
Beginning Balance, Shares at Apr. 28, 2018 | 10,066,111 | |||||
Share-Based Compensation | 466 | 466 | ||||
Employee Option Exercises | 183 | 461 | (278) | |||
Employee Option Exercises, Shares | 40,302 | |||||
Restricted Stock Awards Vested, net | (156) | $ 3 | (2) | (157) | ||
Restricted Stock Awards Vested, net, Shares | 30,084 | |||||
Common Stock – Cash Dividend—$0.07 per share | (481) | (481) | ||||
Net Income | 1,194 | 1,194 | ||||
Reclassification of Certain Income Tax Effects from Accumulated Other Comprehensive Loss | 14 | 14 | ||||
Other Comprehensive Loss | (362) | (362) | ||||
Ending Balance at Jul. 28, 2018 | 65,488 | $ 507 | 51,877 | 46,761 | (32,960) | (697) |
Ending Balance, Shares at Jul. 28, 2018 | 10,136,497 | |||||
Beginning Balance at Jan. 31, 2019 | 69,775 | $ 511 | 53,568 | 49,511 | (32,997) | (818) |
Beginning Balance, Shares at Jan. 31, 2019 | 10,218,559 | |||||
Share-Based Compensation | 601 | 601 | ||||
Employee Option Exercises | 296 | $ 1 | 306 | (11) | ||
Employee Option Exercises, Shares | 27,990 | |||||
Restricted Stock Awards Vested, net | (69) | $ 1 | (1) | (69) | ||
Restricted Stock Awards Vested, net, Shares | 9,522 | |||||
Common Stock – Cash Dividend—$0.07 per share | (489) | (489) | ||||
Net Income | 1,700 | 1,700 | ||||
Other Comprehensive Loss | (200) | (200) | ||||
Ending Balance at May. 04, 2019 | 71,614 | $ 513 | 54,474 | 50,722 | (33,077) | (1,018) |
Ending Balance, Shares at May. 04, 2019 | 10,256,071 | |||||
Beginning Balance at Jan. 31, 2019 | $ 69,775 | $ 511 | 53,568 | 49,511 | (32,997) | (818) |
Beginning Balance, Shares at Jan. 31, 2019 | 10,218,559 | |||||
Employee Option Exercises, Shares | 38,975 | |||||
Net Income | $ 2,652 | |||||
Other Comprehensive Loss | (457) | (457) | ||||
Ending Balance at Aug. 03, 2019 | 72,088 | $ 516 | 55,121 | 51,180 | (33,454) | (1,275) |
Ending Balance, Shares at Aug. 03, 2019 | 10,315,550 | |||||
Beginning Balance at May. 04, 2019 | 71,614 | $ 513 | 54,474 | 50,722 | (33,077) | (1,018) |
Beginning Balance, Shares at May. 04, 2019 | 10,256,071 | |||||
Share-Based Compensation | 451 | 451 | ||||
Employee Option Exercises | 199 | $ 1 | 198 | |||
Employee Option Exercises, Shares | 13,821 | |||||
Restricted Stock Awards Vested, net | (377) | $ 2 | (2) | 0 | (377) | |
Restricted Stock Awards Vested, net, Shares | 45,658 | |||||
Common Stock – Cash Dividend—$0.07 per share | (493) | (493) | ||||
Net Income | 951 | 951 | ||||
Other Comprehensive Loss | (257) | (257) | ||||
Ending Balance at Aug. 03, 2019 | $ 72,088 | $ 516 | $ 55,121 | $ 51,180 | $ (33,454) | $ (1,275) |
Ending Balance, Shares at Aug. 03, 2019 | 10,315,550 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | |||
Aug. 03, 2019 | May 04, 2019 | Jul. 28, 2018 | Apr. 28, 2018 | |
Statement of Stockholders' Equity [Abstract] | ||||
Cash dividend per share | $ 0.07 | $ 0.07 | $ 0.07 | $ 0.07 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | |
Aug. 03, 2019 | Jul. 28, 2018 | |
Cash Flows from Operating Activities: | ||
Net Income | $ 2,652 | $ 2,008 |
Adjustments to Reconcile Net Income to Net Cash Provided (Used) by Operating Activities: | ||
Depreciation and Amortization | 3,142 | 3,088 |
Amortization of Debt Issuance Costs | 25 | 26 |
Share-Based Compensation | 1,052 | 829 |
Deferred Income Tax Provision | (67) | |
Changes in Assets and Liabilities: | ||
Accounts Receivable | 2,754 | (2,002) |
Inventories | (6,872) | (1,080) |
Income Taxes | (2,037) | (650) |
Accounts Payable and Accrued Expenses | 533 | (3,679) |
Other | (237) | (221) |
Net Cash Provided (Used) by Operating Activities | 1,012 | (1,748) |
Cash Flows from Investing Activities: | ||
Proceeds from Sales/Maturities of Securities Available for Sale | 1,511 | |
Honeywell Asset Purchase and License Agreement—TSA Agreement Payment | (400) | |
Additions to Property, Plant and Equipment | (1,538) | (848) |
Net Cash Provided (Used) by Investing Activities | (1,538) | 263 |
Cash Flows from Financing Activities: | ||
Net Cash Proceeds from Common Shares Issued Under Employee Benefit Plans and Employee Stock Option Plans, Net of Payment of Minimum Tax Withholdings | 50 | 477 |
Borrowings under Revolving Credit Facility | 2,000 | 3,000 |
Repayment under Revolving Credit Facility | (1,500) | |
Payment of Minimum Guarantee Royalty Obligation | (875) | (875) |
Principal Payments of Long-Term Debt | (2,788) | (2,908) |
Dividends Paid | (982) | (961) |
Net Cash Provided (Used) by Financing Activities | (2,595) | (2,767) |
Effect of Exchange Rate Changes on Cash and Cash Equivalents | 110 | 24 |
Net Decrease in Cash and Cash Equivalents | (3,011) | (4,228) |
Cash and Cash Equivalents, Beginning of Period | 7,534 | 10,177 |
Cash and Cash Equivalents, End of Period | 4,523 | 5,949 |
Supplemental Disclosures of Cash Flow Information: | ||
Cash Paid During the Period for Interest | 352 | 329 |
Cash Paid During the Period for Income Taxes, Net of Refunds | 2,469 | 1,639 |
Schedule of Non-Cash Financing Activities: | ||
Value of Shares Received in Satisfaction of Option Exercise Price | $ 11 | $ 366 |
Business and Basis of Presentat
Business and Basis of Presentation | 6 Months Ended |
Aug. 03, 2019 | |
Business and Basis Of Presentation [Abstract] | |
Business and Basis of Presentation | Note 1 – Business and Basis of Presentation Overview Headquartered in West Warwick, Rhode Island, AstroNova, Inc. leverages its expertise in data visualization technologies to design, develop, manufacture and distribute a broad range of specialty printers and data acquisition and analysis systems. Our products are employed around the world in a wide range of applications in the aerospace, apparel, automotive, avionics, chemical, computer peripherals, communications, distribution, food and beverage, general manufacturing, packaging and transportation industries. In the United States, the Company has factory-trained direct field salespeople located in major cities from coast to coast. We also have direct field sales or service centers in Canada, China, Denmark, France, Germany, India, Malaysia, Mexico, Singapore, Spain and the United Kingdom staffed by our own employees and dedicated third-party contractors. Additionally, we utilize over 150 independent dealers and representatives selling and marketing our products in over 50 countries. The business consists of two segments, Product Identification (PI) and Test & Measurement (T&M). The Product Identification segment offers a variety of hardware and software products and associated supplies that allow customers to mark, track and enhance the appearance of their products. PI includes specialty printing systems and supplies sold under the QuickLabel ® ® ™ in-house ® Unless otherwise indicated, references to “AstroNova,” the “Company,” “we,” “our,” and “us” in this Quarterly Report on Form 10-Q Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles and reflect all adjustments consisting of normal recurring adjustments which, in the opinion of management, are necessary for a fair presentation of the results of the interim periods included herein. These financial statements do not include all disclosures associated with annual financial statements and, accordingly, should be read in conjunction with the Company’s Annual Report on Form 10-K The presentation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported and disclosed in the condensed consolidated financial statements and accompanying notes. Some of the more significant estimates relate to revenue recognition, the allowances for doubtful accounts, inventory valuation, income taxes, impairment of long-lived assets and goodwill, share-based compensation, accrued expenses, lease accounting and warranty reserves. Management’s estimates are based on the facts and circumstances available at the time estimates are made, historical experience, risk of loss, general economic conditions and trends, and management’s assessments of the probable future outcome of these matters. Consequently, actual results could differ from those estimates. Results of operations for the interim periods presented herein are not necessarily indicative of the results that may be expected for the full year. Certain amounts in the prior year financial statements have been reclassified to conform to the current year’s presentation. Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions are eliminated in consolidation. |
Summary of Significant Accounti
Summary of Significant Accounting Policies Update | 6 Months Ended |
Aug. 03, 2019 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies Update | Note 2 – Summary of Significant Accounting Policies Update The accounting polices used in preparing the condensed consolidated financial statements in this Form 10-Q Recently Adopted Accounting Pronouncements Leases In February 2019, the Company adopted the guidance issued by the Financial Accounting Standards Board (“FASB”) related to leases. See Note 11 for further details related to this adoption, including policy and expanded disclosure requirements. Recent Accounting Standards Not Yet Adopted Internal-Use In August 2018, the FASB issued ASU 2018-15, Other—Internal-Use 350-40): 2018-15 internal-use Fair Value Measurement In August 2018, the FASB issued ASU 2018-13, 2018-13 2018-13 No other new accounting pronouncements, issued or effective during the six months of the current year, have had or are expected to have a material impact on our consolidated financial statements. |
Revenue Recognition
Revenue Recognition | 6 Months Ended |
Aug. 03, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Revenue Recognition | Note 3 – Revenue Recognition We derive revenue from the sale of (i) hardware, including digital color label printers and specialty OEM printing systems, portable data acquisition systems and airborne printers used in the flight deck and cabin of military, commercial and business aircraft, (ii) related supplies required in the operation of the hardware, (iii) repairs and maintenance of hardware and (iv) service agreements. Revenues disaggregated by primary geographic markets and major product types are as follows: Primary geographical markets: Three Months Ended Six Months Ended (In thousands) August 3, July 28, August 3, July 28, United States $ 20,648 $ 19,977 $ 42,640 $ 39,210 Europe 7,473 7,885 15,349 15,719 Asia 2,218 2,537 5,667 3,976 Canada 1,389 1,648 2,905 3,094 Central and South America 1,325 1,102 2,213 2,156 Other 415 658 875 1,139 Total Revenue $ 33,468 $ 33,807 $ 69,649 $ 65,294 Major product types: Three Months Ended Six Months Ended (In thousands) August 3, July 28, August 3, July 28, Hardware $ 12,437 $ 12,914 $ 25,355 $ 24,891 Supplies 18,080 17,883 37,808 34,584 Service and Other 2,951 3,010 6,486 5,819 Total Revenue $ 33,468 $ 33,807 $ 69,649 $ 65,294 Contract Assets and Liabilities We normally do not have contract assets, which are primarily unbilled accounts receivable that are conditional on something other than the passage of time. Our contract liabilities, which represent billings in excess of revenue recognized, are related to advanced billings for purchased service agreements and extended warranties and were $321,000 and $373,000 at August 3, 2019 and January 31, 2019, respectively, and are recorded as deferred revenue in the condensed consolidated balance sheet. The decrease in the deferred revenue balance during the six months ended August 3, 2019 is primarily due to approximately $412,000 of revenue recognized during the period that was included in the deferred revenue balance at January 31, 2019, offset by cash payments received in advance of satisfying performance obligations. Contract Costs We recognize an asset for the incremental costs of obtaining a contract with a customer if we expect the benefit of those costs to be longer than one year. We have determined that certain costs related to obtaining sales contracts for our aerospace printer products meet the requirement to be capitalized. These costs are deferred and amortized based on the forecasted number of units sold over the estimated benefit term, which was estimated to be approximately 10 years. The balance of these contract assets at January 31, 2019 was $903,000. During the six month ended August 3, 2019, amortization of these incremental direct costs were $54,000 and the balance of deferred incremental direct costs net of accumulated amortization at August 3, 2019 was $848,000, of which $109,000 is reported in other current assets and $739,000 is reported in other assets in the accompanying condensed consolidated balance sheet. The remaining contract costs are expected to be amortized over the estimated remaining period of benefit, which we currently estimate to be approximately 7 years. |
Net Income Per Common Share
Net Income Per Common Share | 6 Months Ended |
Aug. 03, 2019 | |
Earnings Per Share [Abstract] | |
Net Income Per Common Share | Note 4 – Net Income Per Common Share Basic net income per share is calculated by dividing net income by the weighted average number of shares outstanding during the period. Diluted net income per share is calculated by dividing net income by the weighted average number of shares and, if dilutive, common equivalent shares, determined using the treasury stock method for stock options, restricted stock awards and restricted stock units outstanding during the period. A reconciliation of the shares used in calculating basic and diluted net income per share is as follows: Three Months Ended Six Months Ended August 3, 2019 July 28, 2018 August 3, 2019 July 28, 2018 Weighted Average Common Shares Outstanding – Basic 7,020,890 6,859,532 6,995,679 6,824,532 Effect of Dilutive Options, Restricted Stock Awards and Restricted Stock Units 350,312 222,976 313,862 174,946 Weighted Average Common Shares Outstanding – Diluted 7,371,202 7,082,508 7,309,541 6,999,478 For the three and six months ended August 3, 2019, the diluted per share amounts do not reflect common equivalent shares outstanding of 11,560 and 218,466 , , |
Intangible Assets
Intangible Assets | 6 Months Ended |
Aug. 03, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Intangible Assets | Note 5 Intangible Assets Intangible assets are as follows: August 3, 2019 January 31, 2019 (In thousands) Gross Accumulated Currency Net Gross Accumulated Currency Net Miltope: Customer Contract Relationships $ 3,100 $ (1,872 ) $ — $ 1,228 $ 3,100 $ (1,723 ) $ — $ 1,377 RITEC: Customer Contract Relationships 2,830 (900 ) — 1,930 2,830 (725 ) — 2,105 Non-Competition 950 (776 ) — 174 950 (681 ) — 269 TrojanLabel: Existing Technology 2,327 (883 ) 86 1,530 2,327 (711 ) 140 1,756 Distributor Relations 937 (249 ) 30 718 937 (200 ) 56 793 Honeywell: Customer Contract Relationships 27,243 (5,330 ) — 21,913 27,243 (3,869 ) — 23,374 Intangible Assets, net $ 37,387 $ (10,010 ) $ 116 $ 27,493 $ 37,387 $ (7,909 ) $ 196 $ 29,674 There were no impairments to intangible assets during the periods ended August 3, 2019 and July 28, 2018. With respect to the acquired intangibles included in the table above, amortization expense of $1.1 million and $1.0 million has been included in the condensed consolidated statements of income for the three months ended August 3, 2019 and July 28, 2018, respectively. Amortization expense of $2.1 million and $2.0 million related to the above acquired intangibles has been included in the condensed consolidated statement of income for the six months ended August 3, 2019 and July 28, 2018, respectively. Estimated amortization expense for the next five fiscal years is as follows: (In thousands) Remaining 2021 2022 2023 2024 Estimated amortization expense $ 2,101 $ 4,073 $ 3,985 $ 3,981 $ 3,977 |
Inventories
Inventories | 6 Months Ended |
Aug. 03, 2019 | |
Inventory Disclosure [Abstract] | |
Inventories | Note 6 Inventories Inventories are stated at the lower of cost (first-in, first-out) (In thousands) August 3, 2019 January 31, 2019 Materials and Supplies $ 21,763 $ 17,517 Work-In-Process 1,581 1,633 Finished Goods 18,563 15,688 41,907 34,838 Inventory Reserve (5,053 ) (4,677 ) $ 36,854 $ 30,161 |
Revolving Line of Credit
Revolving Line of Credit | 6 Months Ended |
Aug. 03, 2019 | |
Debt Disclosure [Abstract] | |
Revolving Line of Credit | Note 7 Revolving Line of Credit The Company has a $10.0 million revolving line of credit under its existing Credit Agreement with Bank of America. Revolving credit loans may be borrowed, at the Company’s option, in U.S. Dollars or, subject to certain conditions, Euros, British Pounds, Canadian Dollars or Danish Kroner. Amounts borrowed under the revolving credit facility bear interest at a rate per annum During the second quarter of fiscal 2020, $ 2.0 During fiscal 2019, $3.0 million was drawn on the revolving credit facility, of which $1.5 million was repaid. At August 3, 2019, $3.5 million remains outstanding on the revolving line of credit. The outstanding balance bears interest at a weighted average annual rate of 5.71% and $24,000 and $43,000 of interest has been incurred on this obligation and included in other expense in the accompanying condensed consolidated income statement for the three and six month periods ended August 3, 2019, respectively. As of August 3, 2019, there is $6.5 million available for borrowing under the revolving credit facility. The Company is required to pay a commitment fee on the undrawn portion of the revolving credit facility at the rate of 0.25% per annum |
Debt
Debt | 6 Months Ended |
Aug. 03, 2019 | |
Debt Disclosure [Abstract] | |
Debt | Note 8 Debt Long-term debt in the accompanying condensed consolidated balance sheets is as follows: (In thousands) August 3, 2019 January 31, 2019 USD Term Loan (3.75% as of August 3, 2019 and 4.02% as of January 31, 2019); maturity date of November 30, 2022 $ 9,750 $ 11,250 USD Term Loan (3.75% as of August 3, 2019 and 4.02% as of January 31, 2019); maturity date of January 31, 2022 5,704 6,992 $ 15,454 $ 18,242 Debt Issuance Costs, net of accumulated amortization (135 ) (164 ) Current Portion of Term Loans (5,024 ) (5,208 ) Long-Term Debt $ 10,295 $ 12,870 The schedule of required principal payments remaining during the next five years on long-term debt outstanding as of August 3, 2019 is as follows: (In thousands) Fiscal 2020 $ 2,420 Fiscal 2021 5,208 Fiscal 2022 5,576 Fiscal 2023 2,250 Fiscal 2024 — $ 15,454 |
Derivative Financial Instrument
Derivative Financial Instruments and Risk Management | 6 Months Ended |
Aug. 03, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments and Risk Management | Note 9 Derivative Financial Instruments and Risk Management The Company has entered into a cross-currency interest rate swap to manage the interest rate risk and foreign currency exchange risk associated with the floating-rate foreign currency-denominated term loan borrowing by our Danish Subsidiary and an interest rate swap to manage the interest rate risk associated with the variable rate term loan borrowing by the Company. Both swaps have been designated as cash flow hedges of floating-rate borrowings. The cross-currency interest rate swap agreement utilized by the Company effectively modifies the Company’s exposure to interest rate risk and foreign currency exchange rate risk by converting the Company’s floating-rate debt denominated in U.S. Dollars on our Danish subsidiary’s books to a fixed-rate debt denominated in Danish Kroner for the term of the loan, thus reducing the impact of interest-rate and foreign currency exchange rate changes on future interest expense and principal repayments. This swap involves the receipt of floating rate amounts in U.S. Dollars in exchange for fixed-rate interest payments in Danish Kroner, as well as exchanges of principal at the inception spot rate, over the life of the term loan. The interest rate swap agreement utilized by the Company on its term loan effectively modifies the Company’s exposure to interest rate risk by converting the Company’s floating-rate debt to fixed-rate debt for the next years, thus reducing the impact of interest-rate changes on future interest expense. This swap involves the receipt of floating rate amounts in U.S. Dollars in exchange for fixed rate payments in U.S. dollars over the life of the term loan. The following table summarizes the notional amount and fair value of the Company’s derivative instrument: August 3, 2019 January 31, 2019 Cash Flow Hedges (In thousands) Balance Sheet Classification Outstanding Notional Amount Fair Liability Outstanding Notional Amount Fair Liability Cross-currency interest rate swap Other Long- $ 5,400 $ 388 $ 6,329 $ 600 Interest rate swap Other Long- $ 9,750 $ (107 ) $ 11,250 $ 85 The following table presents the impact of the Company’s derivative instruments in our condensed consolidated financial statements for the three and six months ended August 3 , 2019 and July 28 , 2018 : Three Months Ended Amount of Gain (Loss) Location of Amount of Gain (Loss) Cash Flow Hedge (In thousands) August 3, July 28, August 3, July 28, Swap contracts $ (147 ) $ 315 Other Income (Expense) $ 77 $ 327 Six Months Ended Amount of Gain (Loss) Location of Amount of Gain (Loss) Cash Flow Hedge (In thousands) August 3, July 28, August 3, July 28, Swap contracts $ 2 $ 698 Other Income (Expense) $ 262 $ 583 At August 3, 2019, the Company expects to reclassify approximately $0.2 million of net gains on the swap contracts from accumulated other comprehensive loss to earnings during the next 12 months due to changes in foreign exchange rates and the payment of variable interest associated with the floating-rate debt. |
Royalty Obligation
Royalty Obligation | 6 Months Ended |
Aug. 03, 2019 | |
Royalty Obligation Disclosure [Abstract] | |
Royalty Obligation | Note 10 Royalty Obligation In fiscal 2018, AstroNova, Inc. entered into an Asset Purchase and License Agreement with Honeywell International, Inc. (“Honeywell”) to acquire an exclusive, perpetual, world-wide license to manufacture Honeywell’s narrow-format flight deck printers for two aircraft families along with certain inventory used in the manufacturing of the licensed printers. The purchase price included a guaranteed minimum royalty payment of $15.0 million, to be paid over ten years, based on gross revenues from the sales of the printers, paper and repair services of the licensed products. The royalty rates vary based on the year in which they are paid or earned and product sold or service provided, and range from single-digit to mid double-digit percentages of gross revenue. The guaranteed minimum royalty payment obligation was recorded at the present value of the minimum annual royalty payments using a present value factor of 2.8%, which is based on the estimated after-tax |
Leases
Leases | 6 Months Ended |
Aug. 03, 2019 | |
Leases [Abstract] | |
Leases | Note 11 Leases Policy On February 1, 2019 the Company adopted ASC 842, Leases. This new guidance requires a lessee to recognize assets and liabilities on the balance sheet for all leases, with the result being the recognition of a right of use (ROU) asset and a lease liability. The lease liability is equal to the present value of the minimum lease payments for the term of the lease, including any optional renewal periods determined to be reasonably certain to be exercised, using a discount rate determined at lease commencement. This discount rate is the rate implicit in the lease, if known; otherwise, the incremental borrowing rate for the expected lease term is used. The Company’s incremental borrowing rate approximates the rate the Company would have to pay to borrow on a collateralized basis over a similar term at lease inception. The value of the ROU asset is equal to the initial measurement of the lease liability plus any lease payments made to the lessor at or before the commencement date and any unamortized initial direct costs incurred by the lessee, less any unamortized lease incentives received. There are two types of leases, operating leases and finance leases. Lease classification is determined at lease commencement. All of the Company’s leases are classified as operating leases. Operating lease expense is recognized on a straight-line basis over the lease term and included in general and administrative expense on the condensed consolidated statement of income. For operating leases, ROU assets are classified in other long-term assets, short-term lease liabilities are classified in other current liabilities, and long-term lease liabilities are classified in other long-term liabilities on the condensed consolidated balance sheet. On the cash flow statement, payments for operating leases are classified as operating activities. The Company enters into lease contracts for certain of its facilities at various locations worldwide. At inception of a contract, the Company determines whether the contract is or contains a lease. If the Company has a right to obtain substantially all of the economic benefits from the use of the identified asset and the right to direct the use of the asset, then the contract contains a lease. Several of the Company’s lease contracts include options to extend the lease term and Company includes the renewal options for these leases in the determination of the ROU asset and lease liability when the likelihood of renewal is determined to be reasonably certain. In addition, several of our lease agreements include non-lease components for items such as common area maintenance and utilities which are accounted for separately from the lease component. Adoption Method and Impact The Company applied ASC 842 to all leases in effect at February 1, 2019 and adopted the accounting standard using the non-comparative Disclosure Our leases have remaining lease terms of 1 to 12 years, some of which include options to extend the lease term for periods up to 5 years when it is reasonably certain the Company will exercise such options. The company leases office space from an affiliate. This lease is classified as an operating lease with annual rental payments of approximately $64,000 and $66,000 in fiscal 2020 and 2021, respectively. Balance sheet and other information related to our leases is as follows: Operating Leases (In thousands) Balance Sheet Classification August 3, Lease Assets Right of Use Assets $ 1,760 Lease Liabilities – Current Other Liabilities and Accrued Expenses 405 Lease Liabilities – Long Term Lease Liabilities 1,364 Lease cost information is as follows: Three Months Ended Six Months Ended Operating Leases (In thousands) Statement of Income Classification August 3, August 3, Operating Lease Costs General and Administrative Expense $ 118 $ 210 Maturities of operating lease liabilities are as follows: (In thousands) August 3, 2020 $ 189 2021 393 2022 327 2023 277 2024 262 (In thousands) August 3, Thereafter 561 Total Lease Payments 2,009 Less: Imputed Interest (240 ) Total Lease Liabilities $ 1,769 As of August 3, 2019, the weighted-average remaining lease term and weighted-average discount rate for our operating leases are 6.1 years and 4.02%, respectively. We calculated the weighted-average discount rate using incremental borrowing rates, which equal the rates of interest that we would pay to borrow funds on a fully collateralized basis over a similar term. Supplemental cash flow information related to leases is as follows: Three Months Ended Six Months Ended (In thousands) August 3, August 3, Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 98 $ 198 As previously disclosed in our fiscal year 2019 Annual Report on Form 10-K non-cancelable (In thousands) 2020 $ 574 2021 520 2022 387 2023 294 2024 273 Thereafter 568 $ 2,616 |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 6 Months Ended |
Aug. 03, 2019 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Loss | Note 12 – Accumulated Other Comprehensive Loss The changes in the balance of accumulated other comprehensive loss (AOCL) by component are as follows: (In thousands) Foreign Currency Cash Total Balance at January 31, 2019 $ (852 ) $ 34 $ (818 ) Other Comprehensive Loss before reclassification (253 ) — (253 ) Amounts reclassified from AOCL to Earnings — (204 ) (204 ) Other Comprehensive Loss (253 ) (204 ) (457 ) Balance at August 3, 2019 $ (1,105 ) $ (170 ) $ (1,275 ) The amounts presented above in other comprehensive loss are net of taxes except for translation adjustments associated with our German and Danish subsidiaries. |
Share-Based Compensation
Share-Based Compensation | 6 Months Ended |
Aug. 03, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-Based Compensation | Note 13 Share-Based Compensation We have one equity incentive plan from which we are authorized to grant equity awards, the AstroNova, Inc. 2018 Equity Incentive Plan (the “2018 Plan”). The 2018 Plan provides for, among other things, the issuance of awards, including incentive stock options, non-qualified stock options, stock appreciation rights, time or performance-based restricted stock unit (PSUs), restricted stock units (RSUs) and restricted stock awards (RSAs). At the annual meeting of shareholders, on June 4, 2019, the 2018 Plan was amended to increase the number of shares of the Company’s common stock available for issuance by 300,000 650,000 950,000, In addition to the 2018 Plan, we previously granted equity awards under our 2015 Equity Incentive Plan (the “2015 Plan”) and our 2007 Equity Incentive Plan (the “2007 Plan”). Both the 2007 Plan and the 2015 Plan have expired and no new awards may be issued under either, but outstanding awards will continue to be governed by those plans. As of August 3, 2019, 1,007 unvested shares of restricted stock and options to purchase an aggregate of 382,845 shares were outstanding under the 2007 Plan and 27,527 unvested shares of restricted stock and options to purchase an aggregate of 194,650 shares were outstanding under the 2015 Plan. On January 31, 2019, the compensation committee of the Company’s board of directors adopted an Amended and Restated Non-Employee non-employee re-election non-employee compensation In March 2019, the Company granted 45,374 RSUs and 52,248 PSUs to certain key employees. Share-based compensation expense was recognized as follows: Three Months Ended Six Months Ended (In thousands) August 3, July 28, August 3, July 28, Stock Options $ 127 $ 200 $ 339 $ 356 Restricted Stock Awards and Restricted Stock Units 320 263 704 467 Employee Stock Purchase Plan 4 3 9 6 Total $ 451 $ 466 $ 1,052 $ 829 Stock Options There were no stock options granted during the six months ended August 3, 2019. The fair value of stock options granted during the six months ended July 28, 2018 were estimated using the following assumptions: Six Months Ended July 28, Risk Free Interest Rate 2.6 % Expected Volatility 39.4 % Expected Life (in years) 9.0 Dividend Yield 1.5 % The weighted average fair value per share for options granted was $7.42 and $7.41 during the three and six month periods ended July 28, 2018, respectively. Aggregated information regarding stock option activity for the six months ended August 3, 2019 is summarized below: Number of Weighted Average Outstanding at January 31, 2019 771,145 $ 14.30 Granted — — Exercised (38,975 ) 11.65 Forfeited (8,275 ) 16.72 Canceled (400 ) 6.22 Outstanding at August 3, 2019 723,495 $ 14.42 Set forth below is a summary of options outstanding at August 3, 2019: Outstanding Exercisable Range of Exercise prices Number Weighted- Weighted- Number Weighted- Weighted $ 5.00 10.00 62,081 $ 7.94 2.5 62,081 $ 7.94 2.5 $ 10.01 15.00 424,814 $ 13.63 6.3 336,794 $ 13.66 5.9 $ 15.01 20.00 236,600 $ 17.53 8.4 112,795 $ 17.08 8.1 723,495 $ 14.42 6.7 511,670 $ 13.72 6.0 As of August 3, 2019, there was approximately $1.1 million of unrecognized compensation expense related to stock options which is expected to be recognized over a weighted average period of approximately 2.0 years. Restricted Stock Units (RSUs) and Restricted Stock Awards (RSAs) Aggregated information regarding RSU and RSA activity for the six months ended August 3, 2019 is summarized below: RSAs & RSUs Weighted Average Outstanding at January 31, 2019 133,667 $ 13.99 Granted 113,522 20.16 Vested (55,180 ) 16.62 Forfeited — — Outstanding at August 3, 2019 192,009 $ 16.88 As of August 3, 2019, there was approximately $2.9 million of unrecognized compensation expense related to RSUs and RSAs which is expected to be recognized over a weighted average period of 1.9 years. Employee Stock Purchase Plan AstroNova has an Employee Stock Purchase Plan allowing eligible employees to purchase shares of common stock at a 15% discount from fair value on the first or last day of an offering period, whichever is less. A total of 247,500 shares were reserved for issuance under this plan. During the six months ended August 3, 2019 and July 28, 2018, there were 2,796 and 2,342 shares, respectively, purchased under this plan. As of August 3, 2019, 31,057 shares remain available. |
Income Taxes
Income Taxes | 6 Months Ended |
Aug. 03, 2019 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 14 Income Taxes The Company’s effective tax rates for the period are as follows: Three Months Six Months Fiscal 2020 3.0 % 13.9 % Fiscal 2019 27.8 % 24.1 % The Company determines its estimated annual effective tax rate at the end of each interim period based on full-year forecasted pre-tax year-to-date pre-tax During the three months ended August 3, 2019, the Company recognized an income tax expense of approximately $29,000. 135,000 tax benefit arising from windfall tax benefits related to the Company’s stock. During the three months ended July 28, 2018, the Company recognized an income tax expense of approximately $459,000. The effective tax rate in this period was directly impacted by an $82,000 benefit arising from windfall tax benefits related to the Company’s stock. During the six months ended August 3, 2019, the Company recognized an income tax expense of approximately $429,000. The effective tax rate in this period was directly impacted by 1) a $53,000 tax benefit related to the expiration of the statute of limitations on a previously uncertain tax position and 2) a $232,000 tax benefit arising from windfall tax benefits related to the Company’s stock. During the six months ended July 28, 2018, the Company recognized an income tax expense of approximately $639,000. The effective tax rate in this period was directly impacted by a $112,000 tax benefit arising from windfall tax benefits related to the Company’s stock and a $78,000 tax benefit related to the expiration of the statute of limitations on a previously uncertain tax position. The Company maintains a valuation allowance on some of its deferred tax assets in certain jurisdictions. A valuation allowance is required when, based upon an assessment of various factors, including recent operating loss history, anticipated future earnings, and prudent and reasonable tax planning strategies, it is more likely than not that some portion of the deferred tax assets will not be realized. Unrecognized tax benefits represent the difference between tax positions taken or expected to be taken in a tax return and the benefits recognized for financial reporting purposes. As of August 3, 2019, the Company’s cumulative unrecognized tax benefits totaled $592,000 compared to $618,000 as of January 31, 2019. Besides the expiration of the statute of limitations on a previously uncertain tax position, there were no |
Segment Information
Segment Information | 6 Months Ended |
Aug. 03, 2019 | |
Segment Reporting [Abstract] | |
Segment Information | Note 15 Segment Information AstroNova reports two segments: Product Identification and Test & Measurement (T&M). The Company evaluates segment performance based on the segment profit before corporate expenses. Summarized below are the Revenue and Segment Operating Profit for each reporting segment: Three Months Ended Six Months Ended Revenue Segment Operating Profit Revenue Segment Operating Profit (In thousands) August 3, July 28, August 3, July 28, August 3, July 28, August 3, July 28, Product Identification $ 22,144 $ 21,769 $ 2,224 $ 2,159 $ 45,735 $ 41,722 $ 5,110 $ 3,820 T&M 11,324 12,038 1,555 2,814 23,914 23,572 4,136 5,071 Total $ 33,468 $ 33,807 3,779 4,973 $ 69,649 $ 65,294 9,246 8,891 Corporate Expenses 2,616 2,808 5,615 5,462 Operating Income 1,163 2,165 3,631 3,429 Other Expense, Net (183 ) (512 ) (550 ) (782 ) Income Before Income Taxes 980 1,653 3,081 2,647 Income Tax Provision 29 459 429 639 Net Income $ 951 $ 1,194 $ 2,652 $ 2,008 |
Fair Value
Fair Value | 6 Months Ended |
Aug. 03, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value | Note 16 Fair Value Assets and Liabilities Recorded at Fair Value on a Recurring Basis The following tables provide a summary of the financial assets and liabilities that are measured at fair value as of August 3, 2019 and January 31, 2019: Assets measured at fair value: Fair value measurement at Fair value measurement at (In thousands) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Interest Rate Swap Contract (included in Other Assets) $ — $ — $ — $ — $ — $ 85 $ — $ 85 Total Assets $ — $ — $ — $ — $ — $ 85 $ — $ 85 Liabilities measured at fair value: Fair value measurement at Fair value measurement at (In thousands) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Cross-Currency Interest Rate Swap Contract (included in Other Long-Term Liabilities) $ — $ 388 $ — $ 388 $ — $ 600 $ — $ 600 Interest Rate Swap Contract (included in Other Long-Term Liabilities) — 107 — 107 — — — — Earnout Liability (included in Other Long-Term Liabilities) — — 14 14 — — 14 14 Total Liabilities $ — $ 495 $ 14 $ 509 $ — $ 600 $ 14 $ 614 We use the market approach to measure fair value of our derivative instruments. Derivative instruments were measured at fair value using readily observable market inputs, such as quotations on interest rates and foreign exchange rates, and are classified as Level 2 because they are over-the-counter The fair value of the earnout liability incurred in connection with the Company’s acquisition of TrojanLabel was determined using the option approach methodology, which includes using significant inputs that are not observable in the market and therefore classified as Level 3. Key assumptions in estimating the fair value of the contingent consideration liability included (1) the estimated earnout targets over the next seven 0.0%-0.9% 2.68%-4.9% Assets and Liabilities Not Recorded at Fair Value The Company’s long-term debt, including the current portion of long-term debt not reflected in the financial statements at fair value, is reflected in the table below: August 3, 2019 Fair Value Measurement (In thousands) Level 1 Level 2 Level 3 Total Carrying Long-Term debt and related current maturities $ — $ — $ 15,754 $ 15,754 $ 15,454 January 31, 2019 Fair Value Measurement (In thousands) Level 1 Level 2 Level 3 Total Carrying Long-Term debt and related current maturities $ — $ — $ 18,857 $ 18,857 $ 18,242 The fair value of the Company’s long-term debt, including the current portion, is estimated by discounting the future cash flows using current interest rates at which similar loans with the same maturities would be made to borrowers with similar credit ratings and is classified as Level 3. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies Update (Policies) | 6 Months Ended |
Aug. 03, 2019 | |
Accounting Policies [Abstract] | |
Leases | On February 1, 2019 the Company adopted ASC 842, Leases. This new guidance requires a lessee to recognize assets and liabilities on the balance sheet for all leases, with the result being the recognition of a right of use (ROU) asset and a lease liability. The lease liability is equal to the present value of the minimum lease payments for the term of the lease, including any optional renewal periods determined to be reasonably certain to be exercised, using a discount rate determined at lease commencement. This discount rate is the rate implicit in the lease, if known; otherwise, the incremental borrowing rate for the expected lease term is used. The Company’s incremental borrowing rate approximates the rate the Company would have to pay to borrow on a collateralized basis over a similar term at lease inception. The value of the ROU asset is equal to the initial measurement of the lease liability plus any lease payments made to the lessor at or before the commencement date and any unamortized initial direct costs incurred by the lessee, less any unamortized lease incentives received. There are two types of leases, operating leases and finance leases. Lease classification is determined at lease commencement. All of the Company’s leases are classified as operating leases. Operating lease expense is recognized on a straight-line basis over the lease term and included in general and administrative expense on the condensed consolidated statement of income. For operating leases, ROU assets are classified in other long-term assets, short-term lease liabilities are classified in other current liabilities, and long-term lease liabilities are classified in other long-term liabilities on the condensed consolidated balance sheet. On the cash flow statement, payments for operating leases are classified as operating activities. The Company enters into lease contracts for certain of its facilities at various locations worldwide. At inception of a contract, the Company determines whether the contract is or contains a lease. If the Company has a right to obtain substantially all of the economic benefits from the use of the identified asset and the right to direct the use of the asset, then the contract contains a lease. Several of the Company’s lease contracts include options to extend the lease term and Company includes the renewal options for these leases in the determination of the ROU asset and lease liability when the likelihood of renewal is determined to be reasonably certain. In addition, several of our lease agreements include non-lease components for items such as common area maintenance and utilities which are accounted for separately from the lease component. |
Recent Accounting Pronouncements | Recently Adopted Accounting Pronouncements Leases In February 2019, the Company adopted the guidance issued by the Financial Accounting Standards Board (“FASB”) related to leases. See Note 11 for further details related to this adoption, including policy and expanded disclosure requirements. Recent Accounting Standards Not Yet Adopted Internal-Use In August 2018, the FASB issued ASU 2018-15, Other—Internal-Use 350-40): 2018-15 internal-use Fair Value Measurement In August 2018, the FASB issued ASU 2018-13, 2018-13 2018-13 No other new accounting pronouncements, issued or effective during the six months of the current year, have had or are expected to have a material impact on our consolidated financial statements. |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Revenue from Contract with Customer [Abstract] | |
Summary of Revenues Disaggregated by Primary Geographic Markets and Major Product Type | Revenues disaggregated by primary geographic markets and major product types are as follows: Primary geographical markets: Three Months Ended Six Months Ended (In thousands) August 3, July 28, August 3, July 28, United States $ 20,648 $ 19,977 $ 42,640 $ 39,210 Europe 7,473 7,885 15,349 15,719 Asia 2,218 2,537 5,667 3,976 Canada 1,389 1,648 2,905 3,094 Central and South America 1,325 1,102 2,213 2,156 Other 415 658 875 1,139 Total Revenue $ 33,468 $ 33,807 $ 69,649 $ 65,294 Major product types: Three Months Ended Six Months Ended (In thousands) August 3, July 28, August 3, July 28, Hardware $ 12,437 $ 12,914 $ 25,355 $ 24,891 Supplies 18,080 17,883 37,808 34,584 Service and Other 2,951 3,010 6,486 5,819 Total Revenue $ 33,468 $ 33,807 $ 69,649 $ 65,294 |
Net Income Per Common Share (Ta
Net Income Per Common Share (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Earnings Per Share [Abstract] | |
Summary of Basic and Diluted Net Income Per Share | A reconciliation of the shares used in calculating basic and diluted net income per share is as follows: Three Months Ended Six Months Ended August 3, 2019 July 28, 2018 August 3, 2019 July 28, 2018 Weighted Average Common Shares Outstanding – Basic 7,020,890 6,859,532 6,995,679 6,824,532 Effect of Dilutive Options, Restricted Stock Awards and Restricted Stock Units 350,312 222,976 313,862 174,946 Weighted Average Common Shares Outstanding – Diluted 7,371,202 7,082,508 7,309,541 6,999,478 |
Intangible Assets (Tables)
Intangible Assets (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Fair Value of Acquired Identifiable Intangible Assets and Related Estimated Useful Lives | Intangible assets are as follows: August 3, 2019 January 31, 2019 (In thousands) Gross Accumulated Currency Net Gross Accumulated Currency Net Miltope: Customer Contract Relationships $ 3,100 $ (1,872 ) $ — $ 1,228 $ 3,100 $ (1,723 ) $ — $ 1,377 RITEC: Customer Contract Relationships 2,830 (900 ) — 1,930 2,830 (725 ) — 2,105 Non-Competition 950 (776 ) — 174 950 (681 ) — 269 TrojanLabel: Existing Technology 2,327 (883 ) 86 1,530 2,327 (711 ) 140 1,756 Distributor Relations 937 (249 ) 30 718 937 (200 ) 56 793 Honeywell: Customer Contract Relationships 27,243 (5,330 ) — 21,913 27,243 (3,869 ) — 23,374 Intangible Assets, net $ 37,387 $ (10,010 ) $ 116 $ 27,493 $ 37,387 $ (7,909 ) $ 196 $ 29,674 |
Summary of Estimated Amortization Expense | Estimated amortization expense for the next five fiscal years is as follows: (In thousands) Remaining 2021 2022 2023 2024 Estimated amortization expense $ 2,101 $ 4,073 $ 3,985 $ 3,981 $ 3,977 |
Inventories (Tables)
Inventories (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Inventory Disclosure [Abstract] | |
Components of Inventories | Inventories are stated at the lower of cost (first-in, first-out) (In thousands) August 3, 2019 January 31, 2019 Materials and Supplies $ 21,763 $ 17,517 Work-In-Process 1,581 1,633 Finished Goods 18,563 15,688 41,907 34,838 Inventory Reserve (5,053 ) (4,677 ) $ 36,854 $ 30,161 |
Debt (Tables)
Debt (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Debt Disclosure [Abstract] | |
Schedule of Short Term and Long Term Debt in the Accompanying Condensed Consolidated Balance Sheets | Long-term debt in the accompanying condensed consolidated balance sheets is as follows: (In thousands) August 3, 2019 January 31, 2019 USD Term Loan (3.75% as of August 3, 2019 and 4.02% as of January 31, 2019); maturity date of November 30, 2022 $ 9,750 $ 11,250 USD Term Loan (3.75% as of August 3, 2019 and 4.02% as of January 31, 2019); maturity date of January 31, 2022 5,704 6,992 $ 15,454 $ 18,242 Debt Issuance Costs, net of accumulated amortization (135 ) (164 ) Current Portion of Term Loans (5,024 ) (5,208 ) Long-Term Debt $ 10,295 $ 12,870 |
Schedule of Required Principal Payments Remaining on Short Term and Long Term Debt Outstanding | The schedule of required principal payments remaining during the next five years on long-term debt outstanding as of August 3, 2019 is as follows: (In thousands) Fiscal 2020 $ 2,420 Fiscal 2021 5,208 Fiscal 2022 5,576 Fiscal 2023 2,250 Fiscal 2024 — $ 15,454 |
Derivative Financial Instrume_2
Derivative Financial Instruments and Risk Management (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Summarizes the Notional Amount and Fair Value of the Derivative Instrument | The following table summarizes the notional amount and fair value of the Company’s derivative instrument: August 3, 2019 January 31, 2019 Cash Flow Hedges (In thousands) Balance Sheet Classification Outstanding Notional Amount Fair Liability Outstanding Notional Amount Fair Liability Cross-currency interest rate swap Other Long- $ 5,400 $ 388 $ 6,329 $ 600 Interest rate swap Other Long- $ 9,750 $ (107 ) $ 11,250 $ 85 |
Schedule of Impact of the Derivative Instruments in the Condensed Consolidated Financial Statements | The following table presents the impact of the Company’s derivative instruments in our condensed consolidated financial statements for the three and six months ended August 3 , 2019 and July 28 , 2018 : Three Months Ended Amount of Gain (Loss) Location of Amount of Gain (Loss) Cash Flow Hedge (In thousands) August 3, July 28, August 3, July 28, Swap contracts $ (147 ) $ 315 Other Income (Expense) $ 77 $ 327 Six Months Ended Amount of Gain (Loss) Location of Amount of Gain (Loss) Cash Flow Hedge (In thousands) August 3, July 28, August 3, July 28, Swap contracts $ 2 $ 698 Other Income (Expense) $ 262 $ 583 |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Leases [Abstract] | |
Schedule Of Balance Sheet And Other Information Related To Operating Leases | Balance sheet and other information related to our leases is as follows: Operating Leases (In thousands) Balance Sheet Classification August 3, Lease Assets Right of Use Assets $ 1,760 Lease Liabilities – Current Other Liabilities and Accrued Expenses 405 Lease Liabilities – Long Term Lease Liabilities 1,364 |
Schedule Lease Cost Information | Lease cost information is as follows: Three Months Ended Six Months Ended Operating Leases (In thousands) Statement of Income Classification August 3, August 3, Operating Lease Costs General and Administrative Expense $ 118 $ 210 |
Schedule of Maturities Of Lease Liabilities | Maturities of operating lease liabilities are as follows: (In thousands) August 3, 2020 $ 189 2021 393 2022 327 2023 277 2024 262 (In thousands) August 3, Thereafter 561 Total Lease Payments 2,009 Less: Imputed Interest (240 ) Total Lease Liabilities $ 1,769 |
Supplemental Cash Flow Information Related To Leases | Supplemental cash flow information related to leases is as follows: Three Months Ended Six Months Ended (In thousands) August 3, August 3, Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 98 $ 198 |
Schedule Of Future Minimum Rental Payments For Operating Leases | As previously disclosed in our fiscal year 2019 Annual Report on Form 10-K non-cancelable (In thousands) 2020 $ 574 2021 520 2022 387 2023 294 2024 273 Thereafter 568 $ 2,616 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Loss (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Equity [Abstract] | |
Changes in Balance of Accumulated Other Comprehensive Loss | The changes in the balance of accumulated other comprehensive loss (AOCL) by component are as follows: (In thousands) Foreign Currency Cash Total Balance at January 31, 2019 $ (852 ) $ 34 $ (818 ) Other Comprehensive Loss before reclassification (253 ) — (253 ) Amounts reclassified from AOCL to Earnings — (204 ) (204 ) Other Comprehensive Loss (253 ) (204 ) (457 ) Balance at August 3, 2019 $ (1,105 ) $ (170 ) $ (1,275 ) |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Share-Based Compensation Expense | Share-based compensation expense was recognized as follows: Three Months Ended Six Months Ended (In thousands) August 3, July 28, August 3, July 28, Stock Options $ 127 $ 200 $ 339 $ 356 Restricted Stock Awards and Restricted Stock Units 320 263 704 467 Employee Stock Purchase Plan 4 3 9 6 Total $ 451 $ 466 $ 1,052 $ 829 |
Fair Value of Stock Options Granted | There were no stock options granted during the six months ended August 3, 2019. The fair value of stock options granted during the six months ended July 28, 2018 were estimated using the following assumptions: Six Months Ended July 28, Risk Free Interest Rate 2.6 % Expected Volatility 39.4 % Expected Life (in years) 9.0 Dividend Yield 1.5 % |
Aggregated Information Regarding Stock Options Granted | Aggregated information regarding stock option activity for the six months ended August 3, 2019 is summarized below: Number of Weighted Average Outstanding at January 31, 2019 771,145 $ 14.30 Granted — — Exercised (38,975 ) 11.65 Forfeited (8,275 ) 16.72 Canceled (400 ) 6.22 Outstanding at August 3, 2019 723,495 $ 14.42 |
Summary of Options Outstanding | Set forth below is a summary of options outstanding at August 3, 2019: Outstanding Exercisable Range of Exercise prices Number Weighted- Weighted- Number Weighted- Weighted $ 5.00 10.00 62,081 $ 7.94 2.5 62,081 $ 7.94 2.5 $ 10.01 15.00 424,814 $ 13.63 6.3 336,794 $ 13.66 5.9 $ 15.01 20.00 236,600 $ 17.53 8.4 112,795 $ 17.08 8.1 723,495 $ 14.42 6.7 511,670 $ 13.72 6.0 |
Aggregated Information Regarding RSUs and RSAs Granted | Aggregated information regarding RSU and RSA activity for the six months ended August 3, 2019 is summarized below: RSAs & RSUs Weighted Average Outstanding at January 31, 2019 133,667 $ 13.99 Granted 113,522 20.16 Vested (55,180 ) 16.62 Forfeited — — Outstanding at August 3, 2019 192,009 $ 16.88 |
Income Taxes (Tables)
Income Taxes (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Income Tax Disclosure [Abstract] | |
Projected Effective Tax Rate for Periods | The Company’s effective tax rates for the period are as follows: Three Months Six Months Fiscal 2020 3.0 % 13.9 % Fiscal 2019 27.8 % 24.1 % |
Segment Information (Tables)
Segment Information (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Segment Reporting [Abstract] | |
Net Sales and Segment Operating Profit for Each Reporting Segment | Summarized below are the Revenue and Segment Operating Profit for each reporting segment: Three Months Ended Six Months Ended Revenue Segment Operating Profit Revenue Segment Operating Profit (In thousands) August 3, July 28, August 3, July 28, August 3, July 28, August 3, July 28, Product Identification $ 22,144 $ 21,769 $ 2,224 $ 2,159 $ 45,735 $ 41,722 $ 5,110 $ 3,820 T&M 11,324 12,038 1,555 2,814 23,914 23,572 4,136 5,071 Total $ 33,468 $ 33,807 3,779 4,973 $ 69,649 $ 65,294 9,246 8,891 Corporate Expenses 2,616 2,808 5,615 5,462 Operating Income 1,163 2,165 3,631 3,429 Other Expense, Net (183 ) (512 ) (550 ) (782 ) Income Before Income Taxes 980 1,653 3,081 2,647 Income Tax Provision 29 459 429 639 Net Income $ 951 $ 1,194 $ 2,652 $ 2,008 |
Fair Value (Tables)
Fair Value (Tables) | 6 Months Ended |
Aug. 03, 2019 | |
Fair Value Disclosures [Abstract] | |
Summary of Financial Assets and Liabilities Measured at Fair Value | The following tables provide a summary of the financial assets and liabilities that are measured at fair value as of August 3, 2019 and January 31, 2019: Assets measured at fair value: Fair value measurement at Fair value measurement at (In thousands) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Interest Rate Swap Contract (included in Other Assets) $ — $ — $ — $ — $ — $ 85 $ — $ 85 Total Assets $ — $ — $ — $ — $ — $ 85 $ — $ 85 Liabilities measured at fair value: Fair value measurement at Fair value measurement at (In thousands) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Cross-Currency Interest Rate Swap Contract (included in Other Long-Term Liabilities) $ — $ 388 $ — $ 388 $ — $ 600 $ — $ 600 Interest Rate Swap Contract (included in Other Long-Term Liabilities) — 107 — 107 — — — — Earnout Liability (included in Other Long-Term Liabilities) — — 14 14 — — 14 14 Total Liabilities $ — $ 495 $ 14 $ 509 $ — $ 600 $ 14 $ 614 |
Schedule of Company's Long-Term Debt Including the Current Portion Not Reflected in Financial Statements at Fair Value | The Company’s long-term debt, including the current portion of long-term debt not reflected in the financial statements at fair value, is reflected in the table below: August 3, 2019 Fair Value Measurement (In thousands) Level 1 Level 2 Level 3 Total Carrying Long-Term debt and related current maturities $ — $ — $ 15,754 $ 15,754 $ 15,454 January 31, 2019 Fair Value Measurement (In thousands) Level 1 Level 2 Level 3 Total Carrying Long-Term debt and related current maturities $ — $ — $ 18,857 $ 18,857 $ 18,242 |
Business and Basis of Present_2
Business and Basis of Presentation - Additional Information (Detail) | 6 Months Ended |
Aug. 03, 2019Segment | |
Number of Operating Segments | 2 |
Revenue Recognition - Summary o
Revenue Recognition - Summary of Revenues Disaggregated by Primary Geographic Markets (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019 | Jul. 28, 2018 | Aug. 03, 2019 | Jul. 28, 2018 | |
Disaggregation of Revenue [Line Items] | ||||
Total Revenue | $ 33,468 | $ 33,807 | $ 69,649 | $ 65,294 |
United States [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Revenue | 20,648 | 19,977 | 42,640 | 39,210 |
Europe [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Revenue | 7,473 | 7,885 | 15,349 | 15,719 |
Canada [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Revenue | 1,389 | 1,648 | 2,905 | 3,094 |
Asia [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Revenue | 2,218 | 2,537 | 5,667 | 3,976 |
Central and South America [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Revenue | 1,325 | 1,102 | 2,213 | 2,156 |
Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Revenue | $ 415 | $ 658 | $ 875 | $ 1,139 |
Revenue Recognition - Summary_2
Revenue Recognition - Summary of Revenues Disaggregated by Primary Product Type (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019 | Jul. 28, 2018 | Aug. 03, 2019 | Jul. 28, 2018 | |
Disaggregation of Revenue [Line Items] | ||||
Total Revenue | $ 33,468 | $ 33,807 | $ 69,649 | $ 65,294 |
Hardware [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Revenue | 12,437 | 12,914 | 25,355 | 24,891 |
Supplies [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Revenue | 18,080 | 17,883 | 37,808 | 34,584 |
Service and Other [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total Revenue | $ 2,951 | $ 3,010 | $ 6,486 | $ 5,819 |
Revenue Recognition - Additiona
Revenue Recognition - Additional Information (Detail) - USD ($) | 6 Months Ended | |
Aug. 03, 2019 | Jan. 31, 2019 | |
Disaggregation of Revenue [Abstract] | ||
Contract liabilities and extended warranties | $ 321,000 | $ 373,000 |
Revenue recognized | 412,000 | |
Contract assets balance | 739,000 | $ 903,000 |
Amortization of incremental direct costs | 54,000 | |
Deferred incremental direct contract costs reported in other current assets | $ 109,000 | |
Amortization period of contract costs | 7 years | |
Deferred incremental direct costs net of accumulated amortization | $ 848,000 | |
Capitalized Contract Costs Benefitial Term | 10 years |
Net Income Per Common Share - R
Net Income Per Common Share - Reconciliation of Shares Used in Calculating Basic and Diluted (Detail) - shares | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019 | Jul. 28, 2018 | Aug. 03, 2019 | Jul. 28, 2018 | |
Weighted Average Common Shares Outstanding – Basic | 7,021,000 | 6,860,000 | 6,996,000 | 6,825,000 |
Effect of Dilutive Options, Restricted Stock Awards and Restricted Stock Units | 350,312 | 222,976 | 313,862 | 174,946 |
Weighted Average Common Shares Outstanding – Diluted | 7,371,000 | 7,083,000 | 7,310,000 | 6,999,000 |
Net Income Per Common Share - A
Net Income Per Common Share - Additional Information (Detail) - shares | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019 | Jul. 28, 2018 | Aug. 03, 2019 | Jul. 28, 2018 | |
Number of common equivalent shares | 11,560 | 273,275 | 218,466 | 340,575 |
Intangible Assets - Fair Value
Intangible Assets - Fair Value of Acquired Identifiable Intangible Assets and Related Estimated Useful Lives (Detail) - USD ($) $ in Thousands | Aug. 03, 2019 | Jan. 31, 2019 |
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | $ 37,387 | $ 37,387 |
Accumulated Amortization | (10,010) | (7,909) |
Currency Translation Adjustment | 116 | 196 |
Net Carrying Amount | 27,493 | 29,674 |
Customer Contract Relationships [Member] | Honeywell Asset Purchase and License Agreement [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 27,243 | 27,243 |
Accumulated Amortization | (5,330) | (3,869) |
Net Carrying Amount | 21,913 | 23,374 |
Customer Contract Relationships [Member] | Miltope [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 3,100 | 3,100 |
Accumulated Amortization | (1,872) | (1,723) |
Net Carrying Amount | 1,228 | 1,377 |
Customer Contract Relationships [Member] | RITEC [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 2,830 | 2,830 |
Accumulated Amortization | (900) | (725) |
Net Carrying Amount | 1,930 | 2,105 |
Non-Competition Agreement [Member] | RITEC [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 950 | 950 |
Accumulated Amortization | (776) | (681) |
Net Carrying Amount | 174 | 269 |
Existing Technology [Member] | TrojanLabel ApS [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 2,327 | 2,327 |
Accumulated Amortization | (883) | (711) |
Currency Translation Adjustment | 86 | 140 |
Net Carrying Amount | 1,530 | 1,756 |
Distributor Relations [Member] | TrojanLabel ApS [Member] | ||
Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Amount | 937 | 937 |
Accumulated Amortization | (249) | (200) |
Currency Translation Adjustment | 30 | 56 |
Net Carrying Amount | $ 718 | $ 793 |
Intangible Assets - Additional
Intangible Assets - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019 | Jul. 28, 2018 | Aug. 03, 2019 | Jul. 28, 2018 | |
Impairment of Intangible Assets (Excluding Goodwill) [Abstract] | ||||
Impairments of intangible assets | $ 0 | $ 0 | $ 0 | $ 0 |
Amortization expense | $ 2,100,000 | $ 2,000,000 | $ 1,100,000 | $ 1,000,000 |
Intangible Assets - Summary of
Intangible Assets - Summary of Estimated Amortization Expense (Detail) $ in Thousands | Aug. 03, 2019USD ($) |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |
2020 | $ 2,101 |
2021 | 4,073 |
2022 | 3,985 |
2023 | 3,981 |
2024 | $ 3,977 |
Inventories - Components of Inv
Inventories - Components of Inventories (Detail) - USD ($) $ in Thousands | Aug. 03, 2019 | Jan. 31, 2019 |
Inventory Disclosure [Abstract] | ||
Materials and Supplies | $ 21,763 | $ 17,517 |
Work-In-Process | 1,581 | 1,633 |
Finished Goods | 18,563 | 15,688 |
Inventory, Gross | 41,907 | 34,838 |
Inventory Reserve | (5,053) | (4,677) |
Inventories | $ 36,854 | $ 30,161 |
Revolving Credit Facility - Add
Revolving Credit Facility - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019 | Aug. 03, 2019 | Jul. 28, 2018 | Jan. 31, 2019 | |
Line of Credit Facility [Line Items] | ||||
Proceeds from borrowing under revolving credit facility | $ 2,000,000 | $ 3,000,000 | ||
Repayments on borrowings under revolving credit facility | $ 1,500,000 | |||
Revolving credit facility | $ 3,500,000 | $ 3,500,000 | $ 1,500,000 | |
Revolving Credit Facility [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Annual interest rate | 5.71% | 5.71% | ||
Accrued interest expense | $ 24,000 | $ 43,000 | ||
Credit facility, remaining borrowing capacity | 6,500,000 | $ 6,500,000 | ||
Commitment fee rate | 0.25% | |||
Revolving Credit Facility [Member] | LIBOR [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Interest rate | 1.00% | |||
Revolving Credit Facility [Member] | Federal Funds Effective Swap Rate [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Interest rate | 0.50% | |||
Revolving Credit Facility [Member] | Minimum [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Percentage added to variable rate | 0.00% | |||
Revolving Credit Facility [Member] | Minimum [Member] | LIBOR [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Interest rate | 1.00% | |||
Revolving Credit Facility [Member] | Maximum [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Percentage added to variable rate | 0.50% | |||
Revolving Credit Facility [Member] | Maximum [Member] | LIBOR [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Interest rate | 1.50% | |||
Second Amendment [Member] | Revolving Credit Facility [Member] | ||||
Line of Credit Facility [Line Items] | ||||
Credit facility, maximum borrowing capacity | $ 10,000,000 | $ 10,000,000 |
Debt - Schedule of Long Term De
Debt - Schedule of Long Term Debt in the Accompanying Condensed Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands | Aug. 03, 2019 | Jan. 31, 2019 |
Debt Instrument [Line Items] | ||
USD Term Loan | $ 15,454 | $ 18,242 |
Debt Issuance Costs, net of accumulated amortization | (135) | (164) |
Current Portion of Term Loans | (5,024) | (5,208) |
Long-Term Debt | 10,295 | 12,870 |
Term Loan Due November 30, 2022 [Member] | ||
Debt Instrument [Line Items] | ||
USD Term Loan | 9,750 | 11,250 |
Term Loan Due January 31, 2022 [Member] | ||
Debt Instrument [Line Items] | ||
USD Term Loan | $ 5,704 | $ 6,992 |
Debt - Schedule of Long Term _2
Debt - Schedule of Long Term Debt in the Accompanying Condensed Consolidated Balance Sheets (Parenthetical) (Detail) | 6 Months Ended | |
Aug. 03, 2019 | Jan. 31, 2019 | |
Term Loan Due November 30, 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument, maturity date | Nov. 30, 2022 | |
Term Loan Due November 30, 2022 [Member] | LIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument, description of variable rate basis | (0.00% as of August 3, 2019 and 4.02% as of January 31, 2019); maturity date of November 30, 2022 | |
Interest rate | 3.75% | 4.02% |
Term Loan Due January 31, 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument, maturity date | Jan. 31, 2022 | |
Term Loan Due January 31, 2022 [Member] | LIBOR [Member] | ||
Debt Instrument [Line Items] | ||
Debt instrument, description of variable rate basis | (0.00% as of August 3, 2019 and 4.02% as of January 31, 2019); maturity date of January 31, 2022 | |
Interest rate | 3.75% | 4.02% |
Debt - Schedule of Required Pri
Debt - Schedule of Required Principal Payments Remaining on Long Term Debt Outstanding (Detail) - Term Loan [Member] $ in Thousands | Aug. 03, 2019USD ($) |
Debt Instrument [Line Items] | |
Fiscal 2020 | $ 2,420 |
Fiscal 2021 | 5,208 |
Fiscal 2022 | 5,576 |
Fiscal 2023 | 2,250 |
Fiscal 2024 | |
Long term debt | $ 15,454 |
Derivative Financial Instrume_3
Derivative Financial Instruments and Risk Management - Schedule of Impact of the Derivative Instruments in the Condensed Consolidated Financial Statements (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Aug. 03, 2019 | Jul. 28, 2018 | Aug. 03, 2019 | Jul. 28, 2018 | Jan. 31, 2019 | |
Cross Currency Interest Rate Swap [Member] | Other Long Term Liabilities [Member] | |||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||
Cross-currency interest rate swap | $ 5,400 | $ 5,400 | $ 6,329 | ||
Fair Value of Liability | 388 | 388 | 600 | ||
Interest Rate Swap [Member] | Other Assets [Member] | |||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||
Interest rate swap | 9,750 | 9,750 | 11,250 | ||
Fair Value of Liability | (107) | (107) | $ 85 | ||
Cash Flow Hedge [Member] | Cross Currency Interest Rate Contract [Member] | |||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |||||
Amount of Gain Recognized in OCI on Derivative | $ (147) | $ 315 | 2 | $ 698 | |
Location of Gain Reclassified from Accumulated OCI into Income | Other Income (Expense) | Other Income (Expense) | |||
Amount of Gain Reclassified from Accumulated OCI into Income | $ 77 | $ 327 | $ 262 | $ 583 |
Derivative Financial Instrume_4
Derivative Financial Instruments and Risk Management - Additional Information (Detail) - Cross Currency Interest Rate Contract [Member] $ in Millions | 6 Months Ended |
Aug. 03, 2019USD ($) | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | |
Maximum remaining maturity of foreign currency derivatives | 5 years |
Amount of gain reclassify from Accumulated OCI into loss during next 12 months | $ 0.2 |
Royalty Obligation - Additional
Royalty Obligation - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Aug. 03, 2019 | Jun. 28, 2018 | Aug. 03, 2019 | Jul. 28, 2018 | Jan. 31, 2019 | Jan. 31, 2018 | |
Guaranteed Minimum Royalty Payment | $ 2,500 | |||||
Royalty Obligation, Current | $ 2,000 | 2,000 | $ 1,875 | |||
Royalty Obligation Non Current | 8,964 | 8,964 | 9,916 | |||
Accrued Royalties, Current, Excess Royalty Payment Due | 647 | $ 647 | $ 1,265 | |||
Honeywell Asset Purchase and License Agreement [Member] | ||||||
Payment Term Period | 10 years | |||||
Minimum Royalty Payment Obligations | $ 15,000 | |||||
Fair Value Assumption Percentage Of Present Value Factor | 2.80% | |||||
Royalty Obligation, Current | 2,000 | $ 2,000 | ||||
Royalty Obligation Non Current | 9,000 | 9,000 | ||||
Excess Royalty Payments | $ 100 | $ 900 | $ 700 | $ 1,300 |
Leases - Additional Information
Leases - Additional Information (Detail) - USD ($) | 6 Months Ended | 12 Months Ended | |||
Aug. 03, 2019 | Jan. 31, 2021 | Jan. 31, 2020 | Feb. 01, 2019 | Jan. 31, 2019 | |
Lessee, Operating Lease, Option to Extend | options to extend the lease term for periods up to 5 years | ||||
Operating Lease, Weighted Average Remaining Lease Term | 6 years 1 month 6 days | ||||
Operating Lease, Weighted Average Discount Rate, Percent | 4.02% | ||||
Operating lease, right-of-use asset | $ 1,760,000 | ||||
Operating lease liability | $ 1,769,000 | ||||
Accounting Standards Update 2016-02 [Member] | |||||
Operating lease, right-of-use asset | $ 2,000,000 | ||||
Operating lease liability | $ 2,000,000 | ||||
Maximum [Member] | |||||
Operating Lease Remaining Lease Term | 12 years | ||||
Minimum [Member] | |||||
Operating Lease Remaining Lease Term | 1 year | ||||
Scenario, Forecast [Member] | |||||
Lease expense, related party | $ 66,000 | $ 64,000 |
Leases - Schedule Of Balance Sh
Leases - Schedule Of Balance Sheet And Other Information Related To Operating Leases (Detail) - USD ($) $ in Thousands | Aug. 03, 2019 | Jan. 31, 2019 |
Operating Leases [Abstract] | ||
Right of Use Asset | $ 1,760 | |
Other Liabilities and Accrued Expenses | 405 | |
Operating Lease Liabilities | $ 1,364 |
Leases - Lease Cost Information
Leases - Lease Cost Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Aug. 03, 2019 | Aug. 03, 2019 | |
General and Administrative Expense [Member] | ||
Operating Lease Costs | $ 118 | $ 210 |
Leases - Maturities of lease li
Leases - Maturities of lease liabilities (Detail) $ in Thousands | Aug. 03, 2019USD ($) |
Leases [Abstract] | |
2020 | $ 189 |
2021 | 393 |
2022 | 327 |
2023 | 277 |
2024 | 262 |
Thereafter | 561 |
Total Lease Payments | 2,009 |
Less: Imputed Interest | (240) |
Total Lease Liabilities | $ 1,769 |
Leases - Supplemental cash flow
Leases - Supplemental cash flow information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Aug. 03, 2019 | Aug. 03, 2019 | |
Cash paid for amounts included in the measurement of lease liabilities [Abstract] | ||
Operating cash flows for operating leases | $ 98 | $ 198 |
Leases - Future minimum operati
Leases - Future minimum operating lease commitments (Detail) $ in Thousands | Jan. 31, 2019USD ($) |
2020 | $ 574 |
2021 | 520 |
2022 | 387 |
2023 | 294 |
2024 | 273 |
Thereafter | 568 |
Total | $ 2,616 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Loss - Changes in Balance of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Aug. 03, 2019 | May 04, 2019 | Jul. 28, 2018 | Apr. 28, 2018 | Aug. 03, 2019 | Jul. 28, 2018 | |
Schedule of Capitalization, Equity [Line Items] | ||||||
Beginning Balance | $ 71,614 | $ 69,775 | $ 64,630 | $ 63,647 | $ 69,775 | $ 63,647 |
Other Comprehensive Income (Loss) | (257) | (200) | (362) | (163) | (457) | (525) |
Ending Balance | 72,088 | 71,614 | 65,488 | 64,630 | 72,088 | 65,488 |
Foreign Currency Translation Adjustments [Member] | ||||||
Schedule of Capitalization, Equity [Line Items] | ||||||
Beginning Balance | (852) | (852) | ||||
Other Comprehensive Loss before reclassification | (253) | |||||
Other Comprehensive Income (Loss) | (253) | |||||
Ending Balance | (1,105) | (1,105) | ||||
Net Unrealized Gain/(Loss) on Cash Flow Hedges [Member] | ||||||
Schedule of Capitalization, Equity [Line Items] | ||||||
Beginning Balance | 34 | 34 | ||||
Amounts reclassified from AOCL to Earnings | (204) | |||||
Other Comprehensive Income (Loss) | (204) | |||||
Ending Balance | (170) | (170) | ||||
Accumulated Other Comprehensive Income (Loss) [Member] | ||||||
Schedule of Capitalization, Equity [Line Items] | ||||||
Beginning Balance | (1,018) | (818) | (335) | (172) | (818) | (172) |
Other Comprehensive Loss before reclassification | (253) | |||||
Amounts reclassified from AOCL to Earnings | (204) | |||||
Other Comprehensive Income (Loss) | (257) | (200) | (362) | (163) | (457) | |
Ending Balance | $ (1,275) | $ (1,018) | $ (697) | $ (335) | $ (1,275) | $ (697) |
Share-Based Compensation - Addi
Share-Based Compensation - Additional Information (Detail) - USD ($) | Jun. 04, 2019 | Feb. 01, 2019 | Mar. 31, 2019 | Jan. 31, 2019 | Aug. 03, 2019 | Jul. 28, 2018 | Jun. 28, 2018 | Aug. 03, 2019 | Jul. 28, 2018 | Jan. 31, 2020 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Number of shares outstanding | 771,145 | 723,495 | 723,495 | |||||||
Options granted weighted-average fair value per share | $ 7.42 | $ 7.41 | ||||||||
Reservation of shares under Stock Purchase Plan | 247,500 | |||||||||
Restricted Stock or Unit Expense | $ 320,000 | $ 263,000 | $ 704,000 | $ 467,000 | ||||||
2015 Equity Incentive Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Number of shares outstanding | 27,527 | 27,527 | ||||||||
Employee Stock Purchase Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Employee Stock Purchase Plan discount rate | 15.00% | |||||||||
Shares purchase under Employee Stock Purchase Plan | 2,796 | 2,342 | ||||||||
Shares available for grant under the Plan | 31,057 | 31,057 | ||||||||
2007 Equity Incentive Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Number of shares outstanding | 382,845 | 382,845 | ||||||||
2018 Equity Incentive Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Shares authorized for grant under the Plan | 650,000 | 950,000 | 950,000 | |||||||
Number of shares outstanding | 146,000 | 146,000 | ||||||||
Additional Shares Authorized Under the Plan | 300,000 | |||||||||
Certain Key Employees [Member] | 2018 Equity Incentive Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Number of options granted | 52,248 | |||||||||
Stock Options [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Number of options granted | 0 | |||||||||
Unrecognized compensation expense related to options | $ 1,100,000 | $ 1,100,000 | ||||||||
Unrecognized compensation expense to be recognized, Weighted average period | 2 years | |||||||||
2014 Restricted Stock Units (RSUs) [Member] | Certain Key Employees [Member] | 2018 Equity Incentive Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Number of options granted | 45,374 | |||||||||
RSA [Member] | 2015 Equity Incentive Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Number of shares outstanding | 194,650 | 194,650 | ||||||||
RSA [Member] | 2007 Equity Incentive Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Number of shares outstanding | 1,007 | 1,007 | ||||||||
RSA [Member] | 2018 Equity Incentive Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Number of options granted | 163,475 | |||||||||
RSA [Member] | Non-Employee Director [Member] | 2018 Equity Incentive Plan [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Number of options granted | 4,340 | |||||||||
Restricted Stock Award [Member] | Scenario, Forecast [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Restricted Stock or Unit Expense | $ 60,000 | |||||||||
Restricted Stock Award [Member] | New Program [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Number of options granted | 11,560 | |||||||||
Restricted Stock Award And Restricted Stock Unit [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||||
Number of options granted | 113,522 | |||||||||
Unrecognized compensation expense to be recognized, Weighted average period | 1 year 10 months 24 days | |||||||||
Unrecognized compensation expense related to RSUs and RSAs | $ 2,900,000 | $ 2,900,000 |
Share-Based Compensation - Shar
Share-Based Compensation - Share-Based Compensation Expense (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019 | Jun. 28, 2018 | Aug. 03, 2019 | Jul. 28, 2018 | |
Share-based Compensation [Abstract] | ||||
Stock Options | $ 127 | $ 200 | $ 339 | $ 356 |
Restricted Stock Awards and Restricted Stock Units | 320 | 263 | 704 | 467 |
Employee Stock Purchase Plan | 4 | 3 | 9 | 6 |
Total | $ 451 | $ 466 | $ 1,052 | $ 829 |
Share-Based Compensation - Fair
Share-Based Compensation - Fair Value of Stock Options Granted (Detail) | 6 Months Ended |
Jul. 28, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Risk-Free Interest Rate | 2.60% |
Expected Volatility | 39.40% |
Expected Life (in years) | 9 years |
Dividend Yield | 1.50% |
Share-Based Compensation - Aggr
Share-Based Compensation - Aggregated Information Regarding Stock Options Granted (Detail) | 6 Months Ended |
Aug. 03, 2019$ / sharesshares | |
Share-based Compensation [Abstract] | |
Beginning balance, Number of Options | shares | 771,145 |
Exercised, Number of Options | shares | (38,975) |
Forfeited, Number of Options | shares | (8,275) |
Canceled, Number of Options | shares | (400) |
Ending balance, Number of Options | shares | 723,495 |
Beginning balance, Weighted-Average Exercise Price | $ / shares | $ 14.30 |
Exercised, Weighted-Average Exercise Price | $ / shares | 11.65 |
Forfeited, Weighted Average Exercise Price | $ / shares | 16.72 |
Cancelled, Weighted-Average Exercise Price Per Share | $ / shares | 6.22 |
Ending balance, Weighted-Average Exercise Price | $ / shares | $ 14.42 |
Share-Based Compensation - Summ
Share-Based Compensation - Summary of Options Outstanding (Detail) - $ / shares | 6 Months Ended | |
Aug. 03, 2019 | Jan. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Number of shares outstanding, total | 723,495 | 771,145 |
Outstanding, Weighted Average Exercise Price | $ 14.42 | |
Exercisable, Weighted Average Exercise Price | $ 13.72 | |
Outstanding Remaining Contractual Life | 6 years 8 months 12 days | |
Number of shares exercisable, total | 511,670 | |
Exercisable Remaining Contractual Life | 6 years | |
$5.00 - $10.00 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Outstanding Range of Exercise prices, Lower Limit | $ 5 | |
Outstanding Range of Exercise prices, Upper Limit | $ 10 | |
Outstanding, Number of shares | 62,081 | |
Outstanding, Weighted Average Exercise Price | $ 7.94 | |
Exercisable, Weighted Average Exercise Price | $ 7.94 | |
Outstanding Remaining Contractual Life | 2 years 6 months | |
Exercisable, Number of shares | 62,081 | |
Exercisable Remaining Contractual Life | 2 years 6 months | |
$10.01 - $15.00 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Outstanding Range of Exercise prices, Lower Limit | $ 10.01 | |
Outstanding Range of Exercise prices, Upper Limit | $ 15 | |
Outstanding, Number of shares | 424,814 | |
Outstanding, Weighted Average Exercise Price | $ 13.63 | |
Exercisable, Weighted Average Exercise Price | $ 13.66 | |
Outstanding Remaining Contractual Life | 6 years 3 months 18 days | |
Exercisable, Number of shares | 336,794 | |
Exercisable Remaining Contractual Life | 5 years 10 months 24 days | |
$15.01 - $20.00 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Outstanding Range of Exercise prices, Lower Limit | $ 15.01 | |
Outstanding Range of Exercise prices, Upper Limit | $ 20 | |
Outstanding, Number of shares | 236,600 | |
Outstanding, Weighted Average Exercise Price | $ 17.53 | |
Exercisable, Weighted Average Exercise Price | $ 17.08 | |
Outstanding Remaining Contractual Life | 8 years 4 months 24 days | |
Exercisable, Number of shares | 112,795 | |
Exercisable Remaining Contractual Life | 8 years 1 month 6 days |
Share-Based Compensation - Ag_2
Share-Based Compensation - Aggregated Information Regarding RSUs and RSAs Granted (Detail) - Restricted Stock Award And Restricted Stock Unit [Member] | 6 Months Ended |
Aug. 03, 2019$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Beginning balance, Outstanding Restricted Stock Units and Restricted Stock Awards | shares | 133,667 |
Granted, Restricted Stock Units and Restricted Stock Awards | shares | 113,522 |
Vested, Restricted Stock Units and Restricted Stock Awards | shares | (55,180) |
Ending balance, Outstanding Restricted Stock Units and Restricted Stock Awards | shares | 192,009 |
Beginning balance, Weighted Average Grant Date Fair Value | $ / shares | $ 13.99 |
Granted, Weighted Average Grant Date Fair Value | $ / shares | 20.16 |
Vested, Weighted Average Grant Date Fair Value | $ / shares | 16.62 |
Ending balance, Weighted Average Grant Date Fair Value | $ / shares | $ 16.88 |
Income Taxes - Projected Effect
Income Taxes - Projected Effective Tax Rate for Periods (Detail) | 3 Months Ended | 6 Months Ended | ||
Aug. 03, 2019 | Jun. 28, 2018 | Aug. 03, 2019 | Jul. 28, 2018 | |
Income Tax Disclosure [Abstract] | ||||
Effective tax rates for income from continuing operations | 3.00% | 27.80% | 13.90% | 24.10% |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Aug. 03, 2019 | Jul. 28, 2018 | Aug. 03, 2019 | Jul. 28, 2018 | Jan. 31, 2019 | |
Income Tax Disclosure [Abstract] | |||||
Income tax expense | $ 29,000 | $ 459,000 | $ 429,000 | $ 639,000 | |
Income tax benefit from windfall of stock | 135,000 | 232,000 | 78,000 | ||
Expiration of the statue of limitations on previously uncertain tax positions | $ 82,000 | 53,000 | $ 112,000 | ||
Cumulative unrecognized tax benefits | 592,000 | $ 592,000 | $ 618,000 | ||
Changes to unrecognized tax benefits | $ 0 |
Segment Information - Net Sales
Segment Information - Net Sales and Segment Operating Profit for Each Reporting Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Aug. 03, 2019 | May 04, 2019 | Jul. 28, 2018 | Apr. 28, 2018 | Aug. 03, 2019 | Jul. 28, 2018 | |
Segment Reporting Information [Line Items] | ||||||
Revenue | $ 33,468 | $ 33,807 | $ 69,649 | $ 65,294 | ||
Corporate Expenses | 2,616 | 2,808 | 5,615 | 5,462 | ||
Operating Income | 1,163 | 2,165 | 3,631 | 3,429 | ||
Other Expense, Net | (183) | (512) | (550) | (782) | ||
Income before Income Taxes | 980 | 1,653 | 3,081 | 2,647 | ||
Income Tax Provision | 29 | 459 | 429 | 639 | ||
Net Income | 951 | $ 1,700 | 1,194 | $ 814 | 2,652 | 2,008 |
Operating Segments [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Revenue | 22,144 | 21,769 | 45,735 | 41,722 | ||
Operating Income | 3,779 | 4,973 | 9,246 | 8,891 | ||
Operating Segments [Member] | Product Identification [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Operating Income | 2,224 | 2,159 | 5,110 | 3,820 | ||
Operating Segments [Member] | T&M [Member] | ||||||
Segment Reporting Information [Line Items] | ||||||
Revenue | 11,324 | 12,038 | 23,914 | 23,572 | ||
Operating Income | $ 1,555 | $ 2,814 | $ 4,136 | $ 5,071 |
Fair Value - Summary of Financi
Fair Value - Summary of Financial Assets and Liabilities Measured at Fair Value (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands | Aug. 03, 2019 | Jan. 31, 2019 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Interest Rate Swap Contract (included in Other Assets) | $ 85 | |
Total Assets | 85 | |
Cross-Currency Interest Rate Swap Contract (included in Other Long-Term Liabilities) | $ 388 | 600 |
Interest Rate Swap Contract (included in Other Long-Term Liabilities) | 107 | |
Earnout Liability (included in Other Long-Term Liabilities) | 14 | 14 |
Total Liabilities | 509 | 614 |
Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Interest Rate Swap Contract (included in Other Assets) | 85 | |
Total Assets | 85 | |
Cross-Currency Interest Rate Swap Contract (included in Other Long-Term Liabilities) | 388 | 600 |
Interest Rate Swap Contract (included in Other Long-Term Liabilities) | 107 | |
Total Liabilities | 495 | 600 |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Earnout Liability (included in Other Long-Term Liabilities) | 14 | 14 |
Total Liabilities | $ 14 | $ 14 |
Fair Value - Additional Informa
Fair Value - Additional Information (Detail) $ in Millions | 6 Months Ended |
Aug. 03, 2019USD ($)yr | |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | |
Fair value assumptions | yr | 7 |
Measurement Input, Discount Rate [Member] | Minimum [Member] | |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | |
Fair value assumptions | 2.68 |
Measurement Input, Discount Rate [Member] | Maximum [Member] | |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | |
Fair value assumptions | 4.9 |
Contingent Earn Out Liability [Member] | |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | |
Estimated earnout targets | $ 0.5 |
Estimated earnout targets | $ 1.4 |
Contingent Earn Out Liability [Member] | Minimum [Member] | |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | |
Probability of success | 0.00% |
Contingent Earn Out Liability [Member] | Maximum [Member] | |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | |
Probability of success | 0.90% |
Fair Value - Schedule of Compan
Fair Value - Schedule of Company's Long-Term Debt Including the Current Portion Not Reflected in Financial Statements at Fair Value (Detail) - USD ($) $ in Thousands | Aug. 03, 2019 | Jan. 31, 2019 |
Fair Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-Term Debt and Related Current Maturities | $ 15,754 | $ 18,857 |
Fair Value [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-Term Debt and Related Current Maturities | 15,754 | 18,857 |
Carrying Value [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Long-Term Debt and Related Current Maturities | $ 15,454 | $ 18,242 |