FAIR VALUE MEASURMENT - Note 3

3 Months Ended

Jun. 30, 2014

Notes to Financial Statements

FAIR VALUE MEASURMENT - Note 3

3. FAIR VALUE MEASUREMENT

The following tables present the Company's fair value hierarchy for assets and liabilities measured at fair value on a recurring basis at June 30, 2014 and March 31, 2014 (in thousands):

		Quoted Prices in		Other		Significant
		Active Markets for		Observable		Unobservable		Balance at
		Identical Assets		Inputs		Inputs		June 30,
		(Level 1)		(Level 2)		(Level 3)		2014
Cash equivalents:
Money market funds	$	25,020	$	-	$	-	$	25,020
Short-term investments:
Mutual funds		1,930		-		-		1,930
Commercial paper		-		24,589		-		24,589
Corporate debt		-		69,224		-		69,224
Municipal securities		-		5,435		-		5,435
Asset backed securities		-		20,075		-		20,075
Mortgage backed securities		-		4,879		-		4,879
International government securities		-		805		-		805
Total	$	26,950	$	125,007	$	-	$	151,957

		Quoted Prices in		Other		Significant
		Active Markets for		Observable		Unobservable		Balance at
		Identical Assets		Inputs		Inputs		March 31,
		(Level 1)		(Level 2)		(Level 3)		2014
Cash equivalents:
Money market funds	$	32,611	$	-	$	-	$	32,611
Short-term investments:
Mutual funds		1,909		-		-		1,909
Commercial paper		-		30,379		-		30,379
Corporate debt		-		14,893		-		14,893
Long-term investments:
Corporate debt		-		48,724		-		48,724
Municipal securities		-		5,439		-		5,439
Asset backed securities		-		17,054		-		17,054
International government securities		-		804		-		804
Total	$	34,520	$	117,293	$	-	$	151,813