these subsidiaries helped us to expand our core business and broaden our presence in the accessory and oem markets . our acquisitions of klipsch and invision have provided the opportunity to enter the manufacturing arena . our intention is to continue to pursue business opportunities which will allow us to further expand our business model while leveraging overhead and exploring specialized niche markets in the electronics industry . although we believe our product groups have expanding market opportunities , there are certain levels of volatility related to domestic and international markets , new car sales , increased competition by manufacturers , private labels , technological advancements , discretionary consumer spending and general economic conditions . also , all of our products are subject to price fluctuations which could affect the carrying value of inventories and gross margins in the future . acquisitions we have acquired and integrated several acquisitions which are outlined in the acquisitions section of part i and presented in detail in note 2 . net sales growth net sales over a five-year period have increased 19.6 % from $ 591,355 for the year ended february 29 , 2008 to $ 707,062 for the year ended february 29 , 2012 . during this period , our sales were impacted by the following items : the introduction of new products and lines such as digital antennas and mobile multi-media devices , acquisition of klipsch 's high-end speaker business , 20 acquisition of invision 's mobile entertainment business , acquisition of schwaiger 's accessory business , acquisition of thomson 's audio/video business , acquisition of technuity 's accessory business , acquisition of incaar 's oem business , acquisition of oehlbach 's accessory business partially offset by : the discontinuance of various high volume/low margin product lines such as navigation , gmrs radios and flat-panel tv 's , volatility in core mobile , consumer and accessories sales due to increased competition , lower selling prices and the decline in the national and global economy . critical accounting policies and estimates general our consolidated financial statements are prepared in conformity with accounting principles generally accepted in the united states of america . the preparation of these financial statements requires us to make certain estimates , judgments and assumptions that we believe are reasonable based upon the information available . these estimates and assumptions can be subjective and complex and may affect the reported amounts of assets and liabilities , revenues and expenses reported in those financial statements . as a result , actual results could differ from such estimates and assumptions . the significant accounting policies and estimates which we believe are the most critical in fully understanding and evaluating the reported consolidated financial results include the following : revenue recognition we recognize revenue from product sales at the time of passage of title and risk of loss to the customer either at fob shipping point or fob destination , based upon terms established with the customer . any customer acceptance provisions , which are related to product testing , are satisfied prior to revenue recognition . we have no further obligations subsequent to revenue recognition except for returns of product from customers . we do accept returns of products , if properly requested , authorized and approved . we continuously monitor and track such product returns and record the provision for the estimated amount of such future returns at point of sale , based on historical experience and any notification we receive of pending returns . sales incentives we offer sales incentives to our customers in the form of ( 1 ) co-operative advertising allowances ; ( 2 ) market development funds ; ( 3 ) volume incentive rebates ; and ( 4 ) other trade allowances . we account for sales incentives in accordance with asc 605-50 “ customer payments and incentives ” ( “ asc 605-50 ” ) . except for other trade allowances , all sales incentives require the customer to purchase our products during a specified period of time . all sales incentives require customers to claim the sales incentive within a certain time period ( referred to as the `` claim period `` ) and claims are settled either by the customer claiming a deduction against an outstanding account receivable or by the customer requesting a check . all costs associated with sales incentives are classified as a reduction of net sales , and the following is a summary of the various sales incentive programs : co-operative advertising allowances are offered to customers as a reimbursement towards their costs for print or media advertising in which our product is featured on its own or in conjunction with other companies ' products . the amount offered is either a fixed amount or is based upon a fixed percentage of sales revenue or fixed amount per unit sold to the customer during a specified time period . market development funds are offered to customers in connection with new product launches or entrance into new markets . the amount offered for new product launches is based upon a fixed amount or fixed percentage of our sales revenue to the customer or a fixed amount per unit sold to the customer during a specified time period . we accrue the cost of co-operative advertising allowances and market development funds at the latter of when the customer purchases our products or when the sales incentive is offered to the customer . volume incentive rebates offered to customers require that minimum quantities of product be purchased during a specified period of time . the amount offered is either based upon a fixed percentage of our sales revenue to the customer or a fixed amount per unit sold to the customer . we make an estimate of the ultimate amount of the rebate customers will earn based upon past history 21 with the customer and other facts and circumstances . story_separator_special_tag this was partially offset by a decline in flo tv sales due to qualcomm 's withdrawal from the direct tv market ; a decline in satellite radio sales as a result of streamlined sku 's ; product shortfalls as a result of a transition to new products and vendors in the portable dvd market ; slower sales in our audio line and consumer good products including camcorders , clock radios and voice recorders . accessories sales decreased $ 29,169 . this group was impacted by slower retail sales for products utilizing our accessory products at the retail level such as digital cables and antennas . the group has added a more diverse group of customers , however , the general economy has had an impact on sales . these declines were partially offset by the acquisition of schwaiger which was present for all of fiscal 2011. sales incentive expenses were $ 40,009 , $ 26,279 and $ 27,070 for fiscal 2012 , 2011 and 2010 , respectively , which included reversals for unclaimed and unearned sales incentives of $ 3,662 , $ 1,725 and $ 2,559 , respectively . the increase in sales incentive expenses and reversals in fiscal 2012 is a result of the acquisition of klipsch and inclusion of the subsidiary 's business in our results of operations for the full fiscal year ended february 29 , 2012. we believe the reversal of unearned and earned but unclaimed sales incentives upon the expiration of the claim period is a disciplined , rational , consistent and systematic method of reversing unearned and earned but unclaimed sales incentives . these sales incentive programs are expected to continue and will either increase or decrease based upon competition and customer demands . gross profit replace_table_token_4_th fiscal 2012 gross margins for fiscal 2012 increased 660 basis points primarily as a result of our acquisition of klipsch , as well as increased sales in mobile related products ; better margins in our existing product lines ; new product introductions ; lower sales in our fulfillment and consumer business , which have typically yielded lower margins ; and a reduction in required inventory provisions and warehouse assembly expenses . fiscal 2011 25 gross margins for fiscal 2011 increased 270 basis points as a result of improved margins throughout our product lines ; a shift in product mix as products moved to oem and security and less dependence on consumer electronics sales ; lower freight and warehousing costs as a result of i ) a logistics reconfiguration for product distribution , ii ) the closing of a public warehouse , and iii ) the renegotiation of an existing public warehouse contract ; and the realization of a full year 's sales from our invision acquisition . operating expenses and operating income / ( loss ) replace_table_token_5_th fiscal 2012 operating expenses increased $ 44,161 in fiscal 2012 as compared to fiscal 2011 . the increase in total operating expenses was due primarily to our recent acquisition of klipsch which accounted for $ 39.2 million of our operating expenses during the year ended february 29 , 2012 , as well as an increase in legal fees to defend a patent suit , compensation expense as a result of performance related targets and acquisition costs incurred during the fourth quarter of fiscal 2012 related to the purchase of hirschmann on march 14 , 2012. these increases were partially offset by reductions in depreciation expense , headcount reduction in select groups and a benefit recorded related to a put option . fiscal 2011 operating expenses increased $ 11,929 in fiscal 2011 as compared to fiscal 2010 primarily due to our invision acquisition which added approximately $ 8,300 in overhead year over year ; an increase in professional fees of approximately $ 3,000 , as a result of i ) approximately $ 990 in klipsch acquisition fees , ii ) increased legal fees as a result of defense of royalty rights and infringements , and iii ) increased audit fees as a result of company expansion ; and the return of temporary salary reductions to all employees at the vice president level and above . the company also experienced increases in advertising and trade show expenses in our international operations of approximately $ 900 , and $ 830 in higher bad debt provisions primarily as a result of the finalization of a bankruptcy settlement and increased reserves for a certain customer . other income/ ( expense ) replace_table_token_6_th fiscal 2012 other income ( expense ) decreased $ 8,461 to other expense , net , of $ 4,982 for the year ended february 29 , 2012 compared to other income , net , of $ 3,479 for the year ended february 28 , 2011 . the decrease is primarily due to a charge recorded during fiscal 2012 in connection with a breach of license agreement suit of approximately $ 3,600 , a contingent consideration adjustment of approximately $ 2,000 , the other than temporary impairment of an investment in marketable securities of approximately $ 1,200 , 26 and the net foreign exchange gain in u. s. dollar denominated assets and liabilities in venezuela of $ 1,400 recorded in fiscal 2011 , offset by gains of approximately $ 1,600 in forward exchange contracts in the fourth quarter of fiscal 2012 related to the hirschmann acquisition . interest and bank charges represent expenses for bank obligations of voxx international corporation and audiovox germany , interest for a capital lease , and amortization of a debt discount on our credit facility . the increase in these expenses for the year ended february 29 , 2012 , is due primarily to interest expense , fees and amortization of deferred financing costs related to the credit facility entered into on march 1 , 2011 primarily to fund our klipsch acquisition . equity in income of equity investees increased due to increased equity income of audiovox specialized applications , inc. ( asa ) as a result of improved

cash of $ 59,584 for fiscal 2012 from : i ) net income generated from operations of $ 25,649 , and depreciation and amortization of $ 10,295 , and ; ii ) increased accounts payable , accrued expenses , accrued sales incentives and other due to increases in net sales ; partially offset by increased accounts receivable , due primarily to the acquisition of klipsch . investing activities used cash of $ 179,410 during fiscal 2012 , primarily due to the acquisition of klipsch on march 1 , 2011 , as well as due to capital expenditures . financing activities provided cash of $ 34,699 during fiscal 2012 , primarily from cash draws from the company 's credit facility to finance the acquisition of klipsch , offset by the repayment of bank obligations . as of february 29 , 2012 , we had a revolving credit facility ( `` the credit facility '' ) with an aggregated committed availability of up to $ 175 million . the company could borrow under the credit facility as needed , provided the aggregate amounts outstanding did not exceed 85 % of certain eligible accounts receivable , plus 65 % of certain eligible inventory balances less the outstanding 29 amounts for letters of credit usage , if applicable . this amount could be further reduced by the aggregated amounts of reserves that may be required at the reasonable discretion of wells fargo in its role as the administrative agent . generally , the company could designate specific borrowings under the credit facility as either base rate loans or libor rate loans , except that swing loans could only be designated as base rate loans . loans designated as libor rate loans bear interest at a rate equal to the then applicable libor rate plus a range of 2.25 - 2.75 % based on excess availability in the borrowing base . loans designated as base rate loans bear interest at a rate equal to the base rate plus an applicable margin ranging from 1.25 - 1.75 % based on excess availability in the borrowing base .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```cash of $ 59,584 for fiscal 2012 from : i ) net income generated from operations of $ 25,649 , and depreciation and amortization of $ 10,295 , and ; ii ) increased accounts payable , accrued expenses , accrued sales incentives and other due to increases in net sales ; partially offset by increased accounts receivable , due primarily to the acquisition of klipsch . investing activities used cash of $ 179,410 during fiscal 2012 , primarily due to the acquisition of klipsch on march 1 , 2011 , as well as due to capital expenditures . financing activities provided cash of $ 34,699 during fiscal 2012 , primarily from cash draws from the company 's credit facility to finance the acquisition of klipsch , offset by the repayment of bank obligations . as of february 29 , 2012 , we had a revolving credit facility ( `` the credit facility '' ) with an aggregated committed availability of up to $ 175 million . the company could borrow under the credit facility as needed , provided the aggregate amounts outstanding did not exceed 85 % of certain eligible accounts receivable , plus 65 % of certain eligible inventory balances less the outstanding 29 amounts for letters of credit usage , if applicable . this amount could be further reduced by the aggregated amounts of reserves that may be required at the reasonable discretion of wells fargo in its role as the administrative agent . generally , the company could designate specific borrowings under the credit facility as either base rate loans or libor rate loans , except that swing loans could only be designated as base rate loans . loans designated as libor rate loans bear interest at a rate equal to the then applicable libor rate plus a range of 2.25 - 2.75 % based on excess availability in the borrowing base . loans designated as base rate loans bear interest at a rate equal to the base rate plus an applicable margin ranging from 1.25 - 1.75 % based on excess availability in the borrowing base .
```    
 Suspicious Activity Report : these subsidiaries helped us to expand our core business and broaden our presence in the accessory and oem markets . our acquisitions of klipsch and invision have provided the opportunity to enter the manufacturing arena . our intention is to continue to pursue business opportunities which will allow us to further expand our business model while leveraging overhead and exploring specialized niche markets in the electronics industry . although we believe our product groups have expanding market opportunities , there are certain levels of volatility related to domestic and international markets , new car sales , increased competition by manufacturers , private labels , technological advancements , discretionary consumer spending and general economic conditions . also , all of our products are subject to price fluctuations which could affect the carrying value of inventories and gross margins in the future . acquisitions we have acquired and integrated several acquisitions which are outlined in the acquisitions section of part i and presented in detail in note 2 . net sales growth net sales over a five-year period have increased 19.6 % from $ 591,355 for the year ended february 29 , 2008 to $ 707,062 for the year ended february 29 , 2012 . during this period , our sales were impacted by the following items : the introduction of new products and lines such as digital antennas and mobile multi-media devices , acquisition of klipsch 's high-end speaker business , 20 acquisition of invision 's mobile entertainment business , acquisition of schwaiger 's accessory business , acquisition of thomson 's audio/video business , acquisition of technuity 's accessory business , acquisition of incaar 's oem business , acquisition of oehlbach 's accessory business partially offset by : the discontinuance of various high volume/low margin product lines such as navigation , gmrs radios and flat-panel tv 's , volatility in core mobile , consumer and accessories sales due to increased competition , lower selling prices and the decline in the national and global economy . critical accounting policies and estimates general our consolidated financial statements are prepared in conformity with accounting principles generally accepted in the united states of america . the preparation of these financial statements requires us to make certain estimates , judgments and assumptions that we believe are reasonable based upon the information available . these estimates and assumptions can be subjective and complex and may affect the reported amounts of assets and liabilities , revenues and expenses reported in those financial statements . as a result , actual results could differ from such estimates and assumptions . the significant accounting policies and estimates which we believe are the most critical in fully understanding and evaluating the reported consolidated financial results include the following : revenue recognition we recognize revenue from product sales at the time of passage of title and risk of loss to the customer either at fob shipping point or fob destination , based upon terms established with the customer . any customer acceptance provisions , which are related to product testing , are satisfied prior to revenue recognition . we have no further obligations subsequent to revenue recognition except for returns of product from customers . we do accept returns of products , if properly requested , authorized and approved . we continuously monitor and track such product returns and record the provision for the estimated amount of such future returns at point of sale , based on historical experience and any notification we receive of pending returns . sales incentives we offer sales incentives to our customers in the form of ( 1 ) co-operative advertising allowances ; ( 2 ) market development funds ; ( 3 ) volume incentive rebates ; and ( 4 ) other trade allowances . we account for sales incentives in accordance with asc 605-50 “ customer payments and incentives ” ( “ asc 605-50 ” ) . except for other trade allowances , all sales incentives require the customer to purchase our products during a specified period of time . all sales incentives require customers to claim the sales incentive within a certain time period ( referred to as the `` claim period `` ) and claims are settled either by the customer claiming a deduction against an outstanding account receivable or by the customer requesting a check . all costs associated with sales incentives are classified as a reduction of net sales , and the following is a summary of the various sales incentive programs : co-operative advertising allowances are offered to customers as a reimbursement towards their costs for print or media advertising in which our product is featured on its own or in conjunction with other companies ' products . the amount offered is either a fixed amount or is based upon a fixed percentage of sales revenue or fixed amount per unit sold to the customer during a specified time period . market development funds are offered to customers in connection with new product launches or entrance into new markets . the amount offered for new product launches is based upon a fixed amount or fixed percentage of our sales revenue to the customer or a fixed amount per unit sold to the customer during a specified time period . we accrue the cost of co-operative advertising allowances and market development funds at the latter of when the customer purchases our products or when the sales incentive is offered to the customer . volume incentive rebates offered to customers require that minimum quantities of product be purchased during a specified period of time . the amount offered is either based upon a fixed percentage of our sales revenue to the customer or a fixed amount per unit sold to the customer . we make an estimate of the ultimate amount of the rebate customers will earn based upon past history 21 with the customer and other facts and circumstances . story_separator_special_tag this was partially offset by a decline in flo tv sales due to qualcomm 's withdrawal from the direct tv market ; a decline in satellite radio sales as a result of streamlined sku 's ; product shortfalls as a result of a transition to new products and vendors in the portable dvd market ; slower sales in our audio line and consumer good products including camcorders , clock radios and voice recorders . accessories sales decreased $ 29,169 . this group was impacted by slower retail sales for products utilizing our accessory products at the retail level such as digital cables and antennas . the group has added a more diverse group of customers , however , the general economy has had an impact on sales . these declines were partially offset by the acquisition of schwaiger which was present for all of fiscal 2011. sales incentive expenses were $ 40,009 , $ 26,279 and $ 27,070 for fiscal 2012 , 2011 and 2010 , respectively , which included reversals for unclaimed and unearned sales incentives of $ 3,662 , $ 1,725 and $ 2,559 , respectively . the increase in sales incentive expenses and reversals in fiscal 2012 is a result of the acquisition of klipsch and inclusion of the subsidiary 's business in our results of operations for the full fiscal year ended february 29 , 2012. we believe the reversal of unearned and earned but unclaimed sales incentives upon the expiration of the claim period is a disciplined , rational , consistent and systematic method of reversing unearned and earned but unclaimed sales incentives . these sales incentive programs are expected to continue and will either increase or decrease based upon competition and customer demands . gross profit replace_table_token_4_th fiscal 2012 gross margins for fiscal 2012 increased 660 basis points primarily as a result of our acquisition of klipsch , as well as increased sales in mobile related products ; better margins in our existing product lines ; new product introductions ; lower sales in our fulfillment and consumer business , which have typically yielded lower margins ; and a reduction in required inventory provisions and warehouse assembly expenses . fiscal 2011 25 gross margins for fiscal 2011 increased 270 basis points as a result of improved margins throughout our product lines ; a shift in product mix as products moved to oem and security and less dependence on consumer electronics sales ; lower freight and warehousing costs as a result of i ) a logistics reconfiguration for product distribution , ii ) the closing of a public warehouse , and iii ) the renegotiation of an existing public warehouse contract ; and the realization of a full year 's sales from our invision acquisition . operating expenses and operating income / ( loss ) replace_table_token_5_th fiscal 2012 operating expenses increased $ 44,161 in fiscal 2012 as compared to fiscal 2011 . the increase in total operating expenses was due primarily to our recent acquisition of klipsch which accounted for $ 39.2 million of our operating expenses during the year ended february 29 , 2012 , as well as an increase in legal fees to defend a patent suit , compensation expense as a result of performance related targets and acquisition costs incurred during the fourth quarter of fiscal 2012 related to the purchase of hirschmann on march 14 , 2012. these increases were partially offset by reductions in depreciation expense , headcount reduction in select groups and a benefit recorded related to a put option . fiscal 2011 operating expenses increased $ 11,929 in fiscal 2011 as compared to fiscal 2010 primarily due to our invision acquisition which added approximately $ 8,300 in overhead year over year ; an increase in professional fees of approximately $ 3,000 , as a result of i ) approximately $ 990 in klipsch acquisition fees , ii ) increased legal fees as a result of defense of royalty rights and infringements , and iii ) increased audit fees as a result of company expansion ; and the return of temporary salary reductions to all employees at the vice president level and above . the company also experienced increases in advertising and trade show expenses in our international operations of approximately $ 900 , and $ 830 in higher bad debt provisions primarily as a result of the finalization of a bankruptcy settlement and increased reserves for a certain customer . other income/ ( expense ) replace_table_token_6_th fiscal 2012 other income ( expense ) decreased $ 8,461 to other expense , net , of $ 4,982 for the year ended february 29 , 2012 compared to other income , net , of $ 3,479 for the year ended february 28 , 2011 . the decrease is primarily due to a charge recorded during fiscal 2012 in connection with a breach of license agreement suit of approximately $ 3,600 , a contingent consideration adjustment of approximately $ 2,000 , the other than temporary impairment of an investment in marketable securities of approximately $ 1,200 , 26 and the net foreign exchange gain in u. s. dollar denominated assets and liabilities in venezuela of $ 1,400 recorded in fiscal 2011 , offset by gains of approximately $ 1,600 in forward exchange contracts in the fourth quarter of fiscal 2012 related to the hirschmann acquisition . interest and bank charges represent expenses for bank obligations of voxx international corporation and audiovox germany , interest for a capital lease , and amortization of a debt discount on our credit facility . the increase in these expenses for the year ended february 29 , 2012 , is due primarily to interest expense , fees and amortization of deferred financing costs related to the credit facility entered into on march 1 , 2011 primarily to fund our klipsch acquisition . equity in income of equity investees increased due to increased equity income of audiovox specialized applications , inc. ( asa ) as a result of improved

