Fair Value of Financial Assets and Liabilities (Tables)

6 Months Ended

Oct. 31, 2013

Summary of Cash and Cash Equivalents

The following table summarizes the Company’s cash and cash equivalents as of October 31, 2013 and April 30, 2013 (in thousands):

	October 31,		April 30,
	2013		2013
Demand deposit accounts	$	26,920	$	16,522
Money market funds		557		1,314
U.S. Treasury bills		—		7,209
Total cash and cash equivalents	$	27,477	$	25,045

Summary of Short-Term Investments

The following table summarizes the Company’s short-term investments as of October 31, 2013 (in thousands):

	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale securities:
Certificates of deposit	$	7,560	$	6	$	(3	)	$	7,563
U.S. Treasury notes		39,777		15		(51	)		39,741
Total short-term investments	$	47,337	$	21	$	(54	)	$	47,304

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

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 October 31, 2013 and April 30, 2013 (in thousands):

	Fair Value Measurements at October 31, 2013								Fair Value Measurements at April 30, 2013
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	557	$	—	$	—	$	557	$	1,314	$	—	$	—	$	1,314
U.S. Treasury bills		—		—		—		—		7,209		—		—		7,209
Total cash equivalents		557		—		—		557		8,523		—		—		8,523
Restricted cash		604		—		—		604		604		—		—		604
Short-term investments:
Certificates of deposit		—		7,563		—		7,563		—		9,235		—		9,235
U.S. Treasury notes		39,741		—		—		39,741		61,055		—		—		61,055
Total short-term investments		39,741		7,563		—		47,304		61,055		9,235		—		70,290
Total assets	$	40,902	$	7,563	$	—	$	48,465	$	70,182	$	9,235	$	—	$	79,417
Liabilities:
Contingent consideration (See Note 4)	$	—	$	—	$	—	$	—	$	—	$	—	$	3,270	$	3,270
Total liabilities	$	—	$	—	$	—	$	—	$	—	$	—	$	3,270	$	3,270