NOTE 3. INVESTMENTS

Our investments are classified as either available-for-sale or held-to-maturity. The following table summarizes available-for-sale and held-to-maturity investments as of June 30, 2012 and March 31, 2012 (in thousands):

	Available-for-Sale Investments
June 30, 2012	Amortized Cost		Gross Unrealized Gain		Gross Unrealized (Loss)			Fair Value
Certificates of deposits	$	1,245	$	4	$	-		$	1,249
Corporate bonds		6,042		30		-			6,072
Municipal bonds		954		1		-			955
Total available-for-sale investments	$	8,241	$	35	$	-		$	8,276

	Held-to-Maturity Investments
June 30, 2012	Amortized Cost		Gross Unrecognized Gain		Gross Unrecognized (Loss)			Fair Value
Certificates of deposits	$	3,341	$	-	$	(4	)	$	3,337
Corporate bonds		23,230		103		(81	)		23,252
Municipal bonds		7,194		57		-			7,251
Total held-to-maturity investments	$	33,765	$	160	$	(85	)	$	33,840

	Available-for-Sale Investments
March 31, 2012	Amortized Cost		Gross Unrealized Gain		Gross Unrealized (Loss)			Fair Value
Certificates of deposits	$	1,245	$	2	$	-		$	1,247
Corporate bonds		6,047		38		-			6,085
Municipal bonds		961		1		-			962
Total available-for-sale investments	$	8,253	$	41	$	-		$	8,294

	Held-to-Maturity Investments
March 31, 2012	Amortized Cost		Gross Unrecognized Gain		Gross Unrecognized (Loss)			Fair Value
Certificates of deposits	$	844	$	-	$	-		$	844
Corporate bonds		23,072		131		(31	)		23,172
Municipal bonds		12,921		71		(1	)		12,991
Total held-to-maturity investments	$	36,837	$	202	$	(32	)	$	37,007

The amortized cost of our held-to-maturity investments approximates their fair value. As of June 30, 2012 and March 31, 2012, we did not have other-than-temporary impairment in the fair value of any individual security classified as held-to-maturity or available-for-sale. As of June 30, 2012 and March 31, 2012, we had unrealized gains on available-for-sale investments, net of related income taxes of $21,000 and $25,000, respectively. Redemptions of investments in accordance with the callable provisions during the three months ended June 30, 2012 and 2011 were $717,000 and $0, respectively.

The following table summarizes the amortized cost and fair value of our investments, classified by stated maturity as of June 30, 2012 and March 31, 2012 (in thousands):

	June 30, 2012				June 30, 2012
	Available-for-Sale Investments				Held-to-Maturity Investments
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in less than one year	$	665	$	665	$	21,247	$	21,287
Due in 1 to 4 years		7,576		7,611		12,518		12,553
Total investments	$	8,241	$	8,276	$	33,765	$	33,840

	March 31, 2012				March 31, 2012
	Available-for-Sale Investments				Held-to-Maturity Investments
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due in less than one year	$	670	$	670	$	21,019	$	21,062
Due in 1 to 4 years		7,583		7,624		15,818		15,945
Total investments	$	8,253	$	8,294	$	36,837	$	37,007