Fair Value of Financial Assets and Liabilities (Tables)

12 Months Ended

Apr. 30, 2013

Summary of Cash and Cash Equivalents

The following table summarizes the Company’s cash and cash equivalents as of April 30, 2013 and 2012 (in thousands):

	April 30,
	2013		2012
Demand deposit accounts	$	16,522	$	45,361
Money market funds		1,314		288
U.S. Treasury bills		7,209		7,499
Corporate bonds		—		21,219
Total cash and cash equivalents	$	25,045	$	74,367

Summary of Short-Term Investments

The following table summarizes the Company’s short-term investments as of April 30, 2013 (in thousands):

	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale securities:
Certificates of deposit	$	9,230	$	9	$	(4	)	$	9,235
U.S. Treasury notes		61,140		15		(100	)		61,055
Total short-term investments	$	70,370	$	24	$	(104	)	$	70,290

The following table summarizes the Company’s short-term investments as of April 30, 2012 (in thousands):

	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale securities:
Certificates of deposit	$	4,510	$	—	$	(14	)	$	4,496
U.S. Treasury notes		28,129		—		(31	)		28,098
Corporate bonds		18,245		—		(5	)		18,240
Total short-term investments	$	50,884	$	—	$	(50	)	$	50,834

Summary of Fair Value of Financial Assets and Liabilities

The following table summarizes the fair value of the Company’s financial assets and liabilities that were measured on a recurring basis as of April 30, 2013 and 2012 (in thousands):

	Fair Value Measurements at April 30, 2013								Fair Value Measurements at April 30, 2012
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	1,314	$	—	$	—	$	1,314	$	288	$	—	$	—	$	288
U.S. Treasury bills		7,209		—		—		7,209		7,499		—		—		7,499
Corporate bonds		—		—		—		—		—		21,219		—		21,219
Total cash equivalents		8,523		—		—		8,523		7,787		21,219		—		29,006
Restricted cash		604		—		—		604		500		—		—		500
Short-term investments:
Certificates of deposit		—		9,235		—		9,235		—		4,496		—		4,496
Corporate bonds		—		—		—		—		—		18,239		—		18,239
U.S. Treasury notes		61,055		—		—		61,055		28,099		—		—		28,099
Total short-term investments		61,055		9,235		—		70,290		28,099		22,735		—		50,834
Total assets	$	70,182	$	9,235	$	—	$	79,417	$	36,386	$	43,954	$	—	$	80,340
Liabilities:
Contingent consideration (see Note 5)	$	—	$	—	$	3,270	$	3,270	$	—	$	—	$	—	$	—
Total liabilities	$	—	$	—	$	3,270	$	3,270	$	—	$	—	$	—	$	—