Marketable Securities and Investments

12 Months Ended

May 31, 2014

Investments, Debt and Equity Securities [Abstract]

MARKETABLE SECURITIES AND INVESTMENTS

MARKETABLE SECURITIES AND INVESTMENTS

As of May 31, 2014, marketable securities consisted of the following:

	Amortized cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(in thousands)
Available-for-sales securities
U.S. government agency obligations	$	1,825	$	—	$	(16	)	$	1,809
Corporate bond securities	—		—		—			—
	$	1,825	$	—	$	(16	)	$	1,809

As of May 31, 2013, marketable securities consisted of the following:

	Amortized cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(in thousands)
Available-for-sales securities
U.S. government agency obligations	$	1,850	$	—	$	—	$	1,850
Corporate bond securities	303		—		—		303
	$	2,153	$	—	$	—	$	2,153

The amortized cost and fair value of marketable securities as of May 31, 2014, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.

	Amortized cost		Fair Value
	(in thousands)
As of May 31, 2014:
Due in one year or less	$	—	$	—
Due after one through five years	—		—
Due after five through twenty years	1,825		1,809
	$	1,825	$	1,809