Note K - Fair Value Measurements

9 Months Ended

Sep. 30, 2018

Notes to Financial Statements

Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [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

September 30, 2018:

	Balance as of		Fair value measurements
	September 30, 2018		Level 1		Level 2		Level 3
Description	(Unaudited)
Assets :
Cash equivalents :
Money market mutual funds	$	661	$	661		-		-
Short-term marketable securities:
Corporate debt securities	$	24,988		-	$	24,988		-
U.S. GSE securities	$	2,028			$	2,028
Long-term marketable securities:
U.S. GSE securities	$	19,277		-	$	19,277		-
Corporate debt securities	$	49,021		-	$	49,021		-

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,

2017.

	Balance as of		Fair value measurements
Description	December 31, 2017		Level 1		Level 2		Level 3
	(Audited)
Assets
Cash equivalents
Money market mutual funds	$	2,998	$	2,998		-		-
Short-term marketable securities
U.S. GSE securities	$	786		-	$	786		-
Corporate debt securities	$	18,430		-	$	18,430		-
Long-term marketable securities
U.S. GSE securities	$	21,258		-	$	21,258		-
Corporate debt securities	$	56,398		-	$	56,398		-

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

September 30, 2018

due to the short-term maturity of these instruments.