Marketable Securities

12 Months Ended

Mar. 31, 2012

Marketable Securities [Abstract]

Marketable Securities

Marketable Securities

Marketable securities, all of which were classified as “available-for-sale” at March 31, 2012 and 2011, consisted of the following (in thousands):

	March 31,
	2012		2011
Municipal tax exempt bond funds
Amortized cost	$	22,101	$	22,596
Gross unrecognized holding gains	126		—
Gross unrecognized holding losses	—		(40		)
Fair value	$	22,227	$	22,556

Bond fund values fluctuate in response to the financial condition of individual issues, general market and economic conditions and changes in interest rates. In general, when interest rates rise, bond fund values fall and investors may lose principal value. While we currently have no plans or requirements to sell the securities in the foreseeable future, we are exposed to market risks and cannot predict what impact fluctuations in the market may have on the value of these funds, which may adversely affect our results of operations, financial condition and liquidity.

In Fiscal 2012, 2011 and 2010, $73,000, $17,000 and $374,000, respectively, of recognized gains from the sale of available-for-sale securities were included as a component of interest income, net on our Consolidated Statements of Operations. In Fiscal 2011, $5,000 of recognized losses from the sale of available-for-sale securities was included as a component of interest income, net on our Consolidated Statements of Operations.