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Other Assets
 12 Months Ended
Mar. 31, 2012
Other Assets Noncurrent Disclosure [Abstract]  
Other Assets Disclosure Noncurrent [Text Block]

5. Other Assets

 Other assets consist of the following (in thousands):
   March 31,
   2012 2011
 Marketable equity securities$ 1,064 $ 459
 Auction rate preferred securities  350   375
 Long term equity investments  5,340   4,860
 Other items  1,155   2,283
  Total$ 7,909 $ 7,977
        
Available-for-sale investment securities have been stated at their fair value as of March 31, 2012 and include an unrealized loss, net of taxes, of $13,000 at March 31, 2011, and unrealized loss, net of taxes, of $68,000 at March 31, 2012.

Available-for-sale investments as of March 31, 2012 and March 31, 2011 were as follows (in thousands):
                
 Fiscal Year 2012 Fiscal Year 2011
 Cost Gross Unrealized Gains Gross Unrealized (Losses) Fair Value Cost Gross Unrealized Gains Gross Unrealized (Losses) Fair Value
                
Marketable equity securities$ 1,168 $ 45 $ (149) $ 1,064 $ 479 $ 7 $ (27) $ 459
Auction rate preferred securities$ 350 $ - $ - $ 350 $ 375 $ - $ - $ 375

The available-for-sale investments that were in a continuous unrealized loss position as of March 31, 2012 and March 31, 2011, aggregated by length of time that individual securities have been in a continuous loss position, were as follows (in thousands):
              
   Less than 12 Months 12 Months or Greater Total
 Period Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value
 March 31, 2012 $ 0 $ 57 $ 149 $ 329 $ 149 $ 386
 March 31, 2011 $ 19 $ 156 $ 8 $ 23 $ 27 $ 179

Gross unrealized losses on our available-for-sale portfolio were immaterial to the consolidated balance sheets at March 31, 2012 and March 31, 2011. Based on evaluation of available evidence as of March 31, 2012, we believe that unrealized losses on marketable equity securities are temporary and do not represent a need for an other-than-temporary impairment.

 

During fiscal 2012, we recognized a gain of $49,000 on the sale of available-for-sale investment securities. In respect of those securities, there was no unrealized gain included in accumulated other comprehensive income as of March 31, 2011.

 

Our long term equity investments represent investment accounted for under the equity method of accounting. See Note 2, “Summary of Significant Accounting Policies” and Note 13, “Related Party Transactions” for further information on these investments.