Marketable Securities and Fair Value Measurements (Tables)

9 Months Ended

Dec. 31, 2013

Marketable Securities

The Company’s marketable securities at December 31, 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 December 31, 2013:
US Treasury securities	$	33,987	$	—	$	—		$	33,987
Short-term government-backed securities		22,952		5		—			22,957
Long-term government-backed securities		27,798		3		(17	)		27,784
	$	84,737	$	8	$	(17	)	$	84,728

	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 December 31, 2013:
U.S. Treasury securities	$	—	$	33,987	$	—	$	33,987
Short-term government-backed securities		—		22,957		—		22,957
Long-term government-backed securities		—		27,784		—		27,784
	$	—	$	84,728	$	—	$	84,728
	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