Marketable Securities and Fair Value Measurements (Tables)

12 Months Ended

Mar. 31, 2013

Marketable Securities by Balance Sheet Classification

The Company’s marketable securities at March 31, 2013 and 2012 are classified on the balance sheet as follows (in thousands):

	March 31,
	2013		2012
	(in $000’s)
Short-term marketable securities	$	67,256	$	71,233
Long-term marketable securities		11,406		—
	$	78,662	$	71,233

Marketable Securities

The Company’s marketable securities at March 31, 2013 and 2012 are invested in the following (in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Market Value
	(in $000’s)
At March 31, 2013:
US Treasury securities	$	59,002	$	—	$	—		$	59,002
Short-term government-backed securities		8,126		1		—			8,127
Long-term government-backed securities		11,405		3		(2	)		11,406
Accrued interest		127		—		—			127
	$	78,660	$	4	$	(2	)	$	78,662

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Market Value
	(in $000’s)
At March 31, 2012:
US Treasury securities	$	71,233	$	—	$	—	$	71,233

Financial Instruments Measured at Fair Value

The following table presents the Company’s fair value hierarchy for its financial instruments measured at fair value as of March 31, 2013 and 2012:

	Level 1		Level 2		Level 3		Total
At March 31, 2013:
U.S. Treasury securities	$	—	$	59,020	$	—	$	59,020
Short-term government-backed securities		—		8,236		—		8,236
Long-term government-backed securities		—		11,406		—		11,406
	$	—	$	78,662	$	—	$	78,662

	Level 1		Level 2		Level 3		Total
	(in $000’s)
At March 31, 2012:
U.S. Treasury securities	$	—	$	71,233	$	—	$	71,233