Marketable Securities

9 Months Ended

Apr. 30, 2013

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

Note 4—Marketable Securities

 The following is a summary of marketable securities at April 30, 2013. The Company did not have any marketable securities at July 31, 2012.

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(in thousands)
Available-for-sale securities:
Certificates of deposit*	$	6,247	$	—	$	—	$	6,247
Federal Farm Credit Bank debt security		260		—		—		260
Municipal bonds		4,323		—		—		4,323
Total	$	10,830	$	—	$	—	$	10,830

*Each of the Company’s certificates of deposit has a CUSIP, was purchased in the secondary market through a broker and may be sold in the secondary market.

Proceeds from maturities of available-for-sale securities were $3.3 million and nil in the nine months ended April 30, 2013 and 2012, respectively. There were no realized gains or losses from sales of available-for-sale securities in the nine months ended April 30, 2013 and 2012. The Company uses the specific identification method in computing the gross realized gains and gross realized losses on the sales of marketable securities.

The contractual maturities of the Company’s available-for-sale securities at April 30, 2013 were as follows:

	Fair Value
	(in thousands)
Within one year	$	10,830
After one year through five years		—
After five years through ten years		—
After ten years		—
Total	$	10,830