INVESTMENTS

3 Months Ended

Sep. 30, 2013

INVESTMENTS

INVESTMENTS

4. INVESTMENTS

The following is a summary of available-for-sale securities as of September 30, 2013 (in thousands):

	Amortized Cost		Unrealized Losses			Fair Value (net)
US corporate debt securities	$	15,266	$	(77	)	$	15,189
Total available-for-sale	$	15,266	$	(77	)	$	15,189

The following is a summary of available-for-sale securities as of June 30, 2013 (in thousands):

	Amortized Cost		Unrealized Losses			Fair Value (net)
US corporate debt securities	$	15,477	$	(94	)	$	15,383
Total available-for-sale	$	15,477	$	(94	)	$	15,383

We had no securities classified as held-to-maturity as of September 30, 2013 or June 30, 2013. All $15.2 million in debt securities on hand as of September 30, 2013 will mature within one year or less.

At each reporting date, the Company performs an evaluation of debt and equity securities to determine if the unrealized losses are other-than-temporary. As of September 30, 2013 no other-than-temporary impairment losses have been recorded with regard to securities on hand as of September 30, 2013. We held no debt or equity securities as of September 30, 2012.