Marketable Securities and Fair Value Measurements (Tables)

3 Months Ended

Jun. 30, 2013

Marketable Securities

The Company’s marketable securities at June 30, 2013 and March 31, 2013 are invested in the following:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Market Value
	(in $000’s)
At June 30, 2013:
US Treasury securities	$	43,116	$	—	$	—		$	43,116
Short-term government-backed securities		12,609		1		(1	)		12,609
Long-term government-backed securities		20,607		1		(20	)		20,588
	$	76,332	$	2	$	(21	)	$	76,313

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Market Value
	(in $000’s)
At March 31, 2013:
US Treasury securities	$	59,020	$	—	$	—		$	59,020
Short-term government-backed securities		8,235		1		—			8,236
Long-term government-backed securities		11,405		3		(2	)		11,406
	$	78,660	$	4	$	(2	)	$	78,662

Financial Instruments Recorded at Fair Value

The following table presents the Company’s financial instruments recorded at fair value in the consolidated balance sheet, classified according to the three categories described above:

	Level 1		Level 2		Level 3		Total
	(in $000’s)
At June 30, 2013:
U.S. Treasury securities	$	—	$	43,116	$	—	$	43,116
Short-term government-backed securities		—		12,609		—		12,609
Long-term government-backed securities		—		20,588		—		20,588
	$	—	$	76,313	$	—	$	76,313

	Level 1		Level 2		Level 3		Total
	(in $000’s)
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