Investments And Fair Value Measurement

12 Months Ended

Dec. 31, 2011

Investments And Fair Value Measurement [Abstract]

Investments And Fair Value Measurement

NOTE 2 – INVESTMENTS AND FAIR VALUE MEASUREMENT

The table below summarizes the Company's available-for-sale securities (in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized (Losses)			Estimated Fair Value
December 31, 2011
Cash equivalents:
Money market funds	$	15,258		—		—		$	15,258
Total		15,258		—		—			15,258
Marketable securities:
U.S. government sponsored entity debt securities		27,020		—		(7	)		27,013
U.S. treasury debt securities		751		1		—			752
Corporate debt securities		39,583		18		—			39,601
Total		67,354		19		(7	)		67,366
Total cash equivalents and marketable securities	$	82,612	$	19	$	(7	)	$	82,624
December 31, 2010
Cash equivalents:
Money market funds	$	9,390		—		—		$	9,390
Total		9,390		—		—			9,390
Marketable securities:
U.S. government sponsored entity debt securities		42,141		—		(6	)		42,135
U.S. treasury debt securities		4,806		1		—			4,807
Corporate debt securities		2,560		—		(1	)		2,559
Total		49,507		1		(7	)		49,501
Total cash equivalents and marketable securities	$	58,897	$	1	$	(7	)	$	58,891

As of December 31, 2011, all of investments had maturity dates within one year and there were no material unrealized losses during 2011. The Company had no realized losses for the year ended December 31, 2011 and no other-than-temporary impairments of available-for-sale securities for the years ended December 31, 2011, 2010 and 2009.

Fair Value Measurement

The Company measures certain financial assets at fair value on a recurring basis, including cash equivalents and available-for-sale securities. The fair value of these assets was determined based on a three-tier hierarchy under the authoritative guidance for fair value measurements and disclosures that prioritizes the inputs used in measuring fair value as follows:

Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities;

Level 2: Quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability;

Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity).

The fair value measurements of cash equivalents and available-for-sale marketable securities are identified at the following levels within the fair value hierarchy (in thousands):

	December 31, 2011 Fair Value Measurements
	Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents:
Money market funds	$	15,258	$	15,258	$	—	$	—
Total		15,258		15,258		—		—
Marketable securities:
U.S. government sponsored entity debt securities		27,013		—		27,013		—
U.S. treasury debt securities		752		—		752		—
Corporate debt securities		39,601		—		39,601		—
Total		67,366		—		67,366		—
Total cash equivalents and marketable securities	$	82,624	$	15,258	$	67,366	$	—

	December 31, 2010 Fair Value Measurements
	Total		Level 1		Level 2		Level 3
Assets:
Cash equivalents:
Money market funds	$	9,390	$	9,390	$	—	$	—
Total		9,390		9,390		—		—
Marketable securities:
U.S. government sponsored entity debt securities		42,135		—		42,135		—
U.S. treasury debt securities		4,807		—		4,807		—
Corporate debt securities		2,559		—		2,559		—
Total		49,501		—		49,501		—
Total cash equivalents and marketable securities