Fair Value of Assets and Liabilities

3 Months Ended

Jun. 30, 2013

Fair Value of Assets and Liabilities [Abstract]

Fair Value of Assets and Liabilities

Note 4 - Fair Value of Assets and Liabilities

The Company reports its money market funds and foreign exchange derivatives at fair value on a recurring basis using the following fair value hierarchy: (1) Level 1 - quoted prices in active markets for identical assets or liabilities; (2) Level 2 – inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and (3) Level 3 - unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The following table presents the Company's assets and liabilities that are measured at fair value on a recurring basis (in thousands):

	As of June 30, 2013
			Quoted Prices in		Significant		Significant
			Active Markets for		Other Observable		Unobservable
	Estimated		Identical Assets		Inputs		Inputs
	Fair Value		(Level 1)		(Level 2)		(Level 3)
Assets:
Cash equivalents - money market funds	$	2,804	$	2,804		-		-
Liabilities:
Foreign exchange derivatives	$	124		-	$	124		-
	As of March 31, 2013
			Quoted Prices in		Significant		Significant
			Active Markets for		Other Observable		Unobservable
	Estimated		Identical Assets		Inputs		Inputs
	Fair Value		(Level 1)		(Level 2)		(Level 3)
Assets:
Cash equivalents - money market funds	$	11,525	$	11,525		-		-
Foreign exchange derivatives	$	31		-	$	31		-

Non-financial assets such as goodwill and intangible assets are also subject to nonrecurring fair value measurements if they are deemed to be impaired. See note 7 of the condensed consolidated financial statements for further information.