INVESTMENTS

6 Months Ended

Sep. 30, 2011

INVESTMENTS [Abstract]

INVESTMENTS

NOTE 3.  INVESTMENTS

The following table summarizes short-term and long-term investments by major security type (in thousands):

	September 30, 2011 Amortized Cost		March 31, 2011 Amortized Cost
Short-term investments
Held-to-maturity:
Certificates of deposits	$	3,537	$	11,834
Commercial paper		-		1,997
Corporate bonds		7,140		6,132
Municipal bonds		6,972		6,018
Total short-term investments in held-to-maturity	$	17,649	$	25,981
Long-term investments
Held-to-maturity:
Certificates of deposits	$	250	$	250
Corporate bonds		19,272		17,402
Municipal bonds		6,577		5,585
U.S. agency securities		3,000		13,000
Total long-term investments in held-to-maturity	$	29,099	$	36,237

For our short-term and long-term investments classified as held-to-maturity as of September 30, 2011, we had total gross unrecognized holding gains of $187,000 and total gross unrecognized losses of $354,000.  The amortized cost of our investments approximates their fair value.  As of September 30, 2011 and March 31, 2011, we did not have other-than-temporary impairment in the fair value of any individual security classified as held-to-maturity and we had no unrealized gain (loss) on investments.  Redemptions in accordance with the callable provisions of the U.S. agency securities during the three months ended September 30, 2011 and 2010, were $13.0 million and $18.1 million, respectively, and during the six months ended September 30, 2011 and 2010, were $13.0 million and $30.6 million, respectively.

The contractual maturities of short-term and long-term investments as of September 30, 2011 and March 31, 2011, are as follows (in thousands):

	September 30, 2011		March 31, 2011
Investments	Amortized Cost		Amortized Cost
Due in less than one year	$	17,649	$	25,981
Due in 1 to 4 years		29,099		36,237
Total investments	$	46,748	$	62,218