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Note 11 - Fair Value Measurements
 3 Months Ended
Mar. 31, 2016
Disclosure Text Block [Abstract]  
Fair Value, Measurement Inputs, Disclosure [Text Block]

NOTE k—FAIR VALUE MEASUREMENTS


Assets and Liabilities Measured at Fair Value on a Recurring Basis:


The Company measures its cash equivalents, short-term deposits, marketable securities and foreign currency derivative contracts at fair value. Cash equivalents, short-term deposits and marketable securities are classified within Level 1 or Level 2 value hierarchies as they are valued using quoted market prices or alternative pricing sources and models utilizing market observable inputs. Foreign currency derivative contracts are classified within Level 2 value hierarchy as the valuation inputs are based on quoted prices and market observable data of similar instruments.


The following table provides information by value level for assets and liabilities that are measured at fair value on a recurring basis as of March 31, 2016:


   

Balance as of

    

Fair Value Measurements

  
   

March 31, 2016

    

Level 1

    

Level 2

    

Level 3

  

Description

                                

Assets:

                                

Cash equivalents:

                                

Money market mutual funds

   $ 1,444     $ 1,444       -       -  
                                 

Short-term marketable securities and cash deposits:

                                

U.S. GSE securities

   $ 375       -     $ 375       -  

Corporate debt securities

   $ 12,979       -     $ 12,979       -  
                                 

Long-term marketable securities:

                                

U.S. GSE securities

   $ 22,152       -     $ 22,152       -  

Corporate debt securities

   $ 63,750       -     $ 63,750       -  
                                 

Derivative Assets

   $ 162       -     $ 162       -  

The following table provides information by value level for assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2015.


   

Balance as of

    

Fair Value Measurements

  
   

December 31,

2015

    

Level 1

    

Level 2

    

Level 3

  

Description

                                

Assets:

                                

Cash equivalents:

                                

Money market mutual funds

   $ 1,089     $ 1,089       -       -  
                                 

Short-term marketable securities and time deposits:

                                

U.S. GSE securities

                                

Corporate debt securities

   $ 12,501       -     $ 12,501       -  
                                 
                                 

Long-term marketable securities:

                                

U.S. GSE securities

   $ 23,531       -     $ 23,531       -  

Corporate debt securities

   $ 66,184       -     $ 66,184       -  
                                 

Derivative liabilities

   $ (36 )     -     $ (36 )     -  

In addition to the assets and liabilities described above, the Company’s financial instruments also include cash and cash equivalents, restricted and short-term deposits, trade receivables, other accounts receivable, trade payables, accrued expenses and other payables. The fair value of these financial instruments was not materially different from their carrying values at March 31, 2016 due to the short-term maturity of these instruments.