SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2017

Accounting Policies [Abstract]

Schedule of Cash, Cash Equivalents and Short Term Investments

At March 31, 2017, cash, cash equivalents and short term investments consisted of the following:

			Gross		Gross
			Unrealized		Unrealized			Estimated
	Cost		Gains		Losses			Fair Value
Cash	$	37,837	$	0	$	0		$	37,837
Money market funds		180		0		0			180
Government and agency securities		22,903		57		(108	)		22,852
Corporate debt securities		5,576		15		(19	)		5,572
	$	66,496	$	72	$	(127	)	$	66,441

At December 31, 2016, cash, cash equivalents and short term investments consisted of the following:

			Gross		Gross
			Unrealized		Unrealized			Estimated
	Cost		Gains		Losses			Fair Value
Cash	$	9,166	$	0	$	0		$	9,166
Money market funds		457		0		0			457
Government and agency securities		19,132		51		(96	)		19,087
Corporate debt securities		4,791		18		(23	)		4,786
	$	33,546	$	69	$	(119	)	$	33,496

Schedule of Financial Assets Measured at Fair Value

The following table summarizes the Company’s financial assets measured at fair value at March 31, 2017:

	Total Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)
Money market funds	$	180	$	180
Government and agency securities		22,852		22,852
Corporate debt securities		5,572		5,572
Total assets	$	28,604	$	28,604

The following table summarizes the Company’s financial assets measured at fair value at December 31, 2016:

	Total Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)
Money market funds	$	457	$	457
Government and agency securities		19,087		19,087
Corporate debt securities		4,786		4,786
Total assets	$	24,330	$	24,330

Schedule of Earnings Per Share

The following table sets forth the computation of basic and diluted EPS:

	Three Months Ended March 31,
	2017			2016
Net income	$	7,484		$	2,552
Net income allocated to unvested restricted stock		(74	)		(30	)
Net income allocated to common shares	$	7,410		$	2,522
Weighted average shares outstanding:
Basic		29,558			29,027
Effect of dilutive securities		427			344
Diluted		29,985			29,371
Basic income per common share	$	0.25		$	0.09
Diluted income per common share	$	0.25		$	0.09