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Marketable Securities
 6 Months Ended
Jun. 30, 2011
Marketable Securities  
Marketable Securities

 

2. MARKETABLE SECURITIES:

Our investments in marketable securities are classified as available for sale and consist of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2011

 

(In thousands)

 

Cost

 


Unrealized
Gains

 

Unrealized
Losses

 

Fair Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short Term

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government and agency obligations

 

$

4,129

 

$

8

 

$

—

 

$

4,137

 

Corporate debt securities and certificates of deposit

 

 

4,950

 

 

7

 

 

—

 

 

4,957

 

Marketable securities – short term

 

$

9,079

 

$

15

 

$

—

 

$

9,094

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long Term

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government and agency obligations

 

$

4,800

 

$

30

 

$

(1

)

$

4,829

 

Corporate debt securities and certificates of deposit

 

 

2,045

 

 

5

 

 

(1

)

 

2,049

 

Equity security

 

 

84

 

 

—

 

 

—

 

 

84

 

Marketable securities – long term

 

$

6,929

 

$

35

 

$

(2

)

$

6,962

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2010

 

(In thousands)

 

Cost

 


Unrealized
Gains

 

Unrealized
Losses

 

Fair Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short Term

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government and agency obligations

 

$

3,178

 

$

7

 

$

—

 

$

3,185

 

Corporate debt securities and certificates of deposit

 

 

3,197

 

 

2

 

 

—

 

 

3,199

 

Marketable securities – short term

 

$

6,375

 

$

9

 

$

—

 

$

6,384

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long Term

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government and agency obligations

 

$

4,809

 

$

17

 

$

(1

)

$

4,825

 

Corporate debt securities

 

 

2,208

 

 

4

 

 

(3

)

 

2,209

 

Asset backed securities

 

 

200

 

 

3

 

 

—

 

 

203

 

Equity security

 

 

84

 

 

—

 

 

(32

)

 

52

 

Marketable securities – long term

 

$

7,301

 

$

24

 

$

(36

)

$

7,289

 

Our investments in marketable debt securities all have maturities of less than three years. At June 30, 2011, marketable debt securities valued at $13,606,000 were in an unrealized gain position totaling $50,000 and marketable debt securities valued at $2,366,000 were in an insignificant unrealized loss position totaling $2,000 (all had been in an unrealized loss position for less than twelve months). At December 31, 2010, marketable debt securities valued at $10,578,000 were in an unrealized gain position totaling $33,000 and marketable debt securities valued at $3,043,000 were in an insignificant unrealized loss position totaling $4,000 (all had been in an unrealized loss position for less than twelve months).

Net pre-tax unrealized gains for marketable securities of $48,000 at June 30, 2011 and net pre-tax losses of $3,000 at December 31, 2010 were recorded as a component of accumulated other comprehensive income (loss) in stockholders' equity. In the three months ended June 30, 2011 we received proceeds of $800,000 from the sale of marketable securities. In the six months ended June 30, 2011 we received proceeds of $1,848,000 from the sale of marketable securities. In the three months ended June 30, 2010 we received proceeds of $1,500,000 from the sale of marketable securities. In the six months ended June 30, 2010 we received proceeds of $2,644,000 from the sale of marketable securities. No gain or loss was recognized on any of the sales during the six months ended June 30, 2011 or 2010.