Marketable Securities

12 Months Ended

Mar. 31, 2013

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

Marketable Securities

Marketable securities, all of which were classified as “available-for-sale” at March 31, 2013 and 2012, consisted of the following (dollars in thousands):

	March 31,
	2013			2012
Available-for-sale marketable securities
Amortized cost	$	16,596		$	22,101
Gross unrecognized holding gains	—			126
Gross unrecognized holding losses	(8		)	—
Fair value	$	16,588		$	22,227

As of March 31, 2013, our marketable securities consisted of short-term adjustable-rate governmental bond funds. Fund values fluctuate in response to the financial condition of individual issues, general market and economic conditions and changes in interest rates. In general, when interest rates rise, fund values fall and investors may lose principal value. While we currently have no plans or requirements to sell the securities in the foreseeable future, we are exposed to market risks and cannot predict what impact fluctuations in the market may have on the value of these funds, which may adversely affect our results of operations, financial condition and liquidity.

In Fiscal 2013, 2012 and 2011, $197,000, $73,000 and $17,000, respectively, of recognized gains from the sale of available-for-sale securities were included as a component of interest income, net on our Consolidated Statements of Operations. In Fiscal 2011, $5,000 of recognized losses from the sale of available-for-sale securities was included as a component of investment income, net on our Consolidated Statements of Operations.