Cash and Cash Equivalents and Investments

9 Months Ended

Jan. 01, 2012

Cash and Cash Equivalents and Investments [Abstract]

Cash and Cash Equivalents and Investments

Note 4 – Cash and Cash Equivalents and Investments

The following table presents information about our financial assets and liabilities that are measured at fair value on a recurring basis, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.

Description	January 1,
(In thousands)	2012		Level 1		Level 2		Level 3
Assets:
Cash		$            18,744		$     18,744		$                -		$                -
Certificates of deposit		17,336		-		17,336		-
Money market securities		535		535		-		-
Description	April 3,
(In thousands)	2011		Level 1		Level 2		Level 3
Assets:
Cash		$            18,485		$    18,485		$                -		$                -
Certificates of deposit		18,461		-		18,461		-
Money market securities		455		455		-		-

Our financial assets that are measured at fair value on a recurring basis are certificates of deposit (“CD’s”), with maturities ranging from three months to two years which fall within valuation technique Level 2. The CD’s are classified as investments in current assets and noncurrent assets on the Condensed Consolidated Balance Sheets. As of January 1, 2012, the CD’s in current assets had a fair value of $11.0 million, and in noncurrent assets, the CD’s had a fair value of $6.3 million.

The carrying value of cash and cash equivalents accounts approximates fair value, as maturities are three months or less. We did not have any financial liability instruments subject to recurring fair value measurements as of January 1, 2012.