Marketable Securities

12 Months Ended

Jul. 31, 2014

Marketable Securities [Abstract]

Marketable Securities

Note 3—Marketable Securities

The following is a summary of marketable securities:

(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
July 31, 2014
Available-for-sale securities:
Certificates of deposit*	$	10,375	$	—	$	—		$	10,375
Equity securities		31		—		(9	)		22
Municipal bonds		2,475		1		—			2,476
TOTAL	$	12,881	$	1	$	(9	)	$	12,873
July 31, 2013
Available-for-sale securities:
Certificates of deposit*	$	8,786	$	—	$	—		$	8,786
Municipal bonds		898		—		—			898
TOTAL	$	9,684	$	—	$	—		$	9,684

*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 and sales of available-for-sale securities were $17.3 million, $1.7 million and nil in fiscal 2014, fiscal 2013 and fiscal 2012, respectively. There were no realized gains or losses from sales of available-for-sale securities in fiscal 2014, fiscal 2013 and fiscal 2012. In fiscal 2014, the Company recorded a loss of $0.1 million for the other than temporary decline in market value of its equity securities.

The contractual maturities of the Company’s available-for-sale securities at July 31, 2014 were as follows:

(in thousands)	Fair Value
Within one year	$	12,851
After one year through five years		—
After five years through ten years		—
After ten years		—
TOTAL	$	12,851