Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v2.4.1.9
Fair Value Measurements (Tables)
 3 Months Ended
Apr. 30, 2015
Fair Value Disclosures [Abstract]  
Fair Value of Financial Assets and Liabilities Measured on Recurring Basis

The following tables set forth our financial assets and liabilities that were accounted for at fair value on a recurring basis as of April 30, 2015 and January 31, 2015:

 

            Fair Value at April 30, 2015 Using  
     April 30,
2015 		     Quoted
Prices in
Active
Markets for
Identical Assets
(Level 1) 		     Significant
Other
Observable
Inputs
(Level 2) 		     Significant
Unobservable
Inputs
(Level 3) 		 
     (Amounts in thousands)  

Financial assets:

            

Money market accounts (a)

    $ 3,615       $ 3,615       $ —         $ —     

Available for sale marketable securities:

            

Current marketable securities:

            

U.S. treasury notes and bonds - conventional

      1,500         1,500         —           —     

U.S. government agency issues

      2,007         —           2,007         —     

Non-current marketable securities:

            

U.S. treasury notes and bonds - conventional

      6,279         6,279         —           —     

U.S. government agency issues

      2,504         —           2,504         —     
  

 

 

     

 

 

     

 

 

     

 

 

  

Total

 $ 15,905    $ 11,394    $ 4,511    $ —     
  

 

 

     

 

 

     

 

 

     

 

 

  

Financial liabilities:

Contingent consideration (b)

 $ 1,017    $ —      $ —      $ 1,017   
  

 

 

     

 

 

     

 

 

     

 

 

  
            Fair Value at January 31, 2015 Using  
     January 31,
2015 		     Quoted
Prices in
Active
Markets for
Identical Assets
(Level 1) 		     Significant
Other
Observable
Inputs
(Level 2) 		     Significant
Unobservable
Inputs
(Level 3) 		 
     (Amounts in thousands)  

Financial assets:

            

Money market accounts (a)

    $ 1,575       $ 1,575       $ —         $ —     

Available for sale marketable securities:

            

Current marketable securities:

            

U.S. treasury notes and bonds - conventional

      1,501         1,501         —           —     

U.S. government agency issues

      6,015         —           6,015         —     

Non-current marketable securities:

            

U.S. treasury notes and bonds - conventional

      4,286         4,286         

U.S. government agency issues

      2,507         —           2,507         —     
  

 

 

     

 

 

     

 

 

     

 

 

  

Total

 $ 15,884    $ 7,362    $ 8,522    $ —     
  

 

 

     

 

 

     

 

 

     

 

 

  

 

(a) Money market funds and U.S. treasury bills are included in cash and cash equivalents on the accompanying consolidated balance sheet and are valued at quoted market prices for identical instruments in active markets.
(b) The fair value of our contingent consideration arrangement is determined based on management’s evaluation as to the probability of achieving certain defined performance criteria based on the expected future performance of the acquired entity, as well as the fair value of the estimated shares of the Company’s common stock to be issued. There was no change to this Level 3 liability in the three months ended April 30, 2015.
Summary of Available-for-Sale Securities

The following is a summary of cash, cash equivalents and available-for-sale securities, including the cost basis, aggregate fair value and gross unrealized gains and losses, for short- and long-term marketable securities portfolio as of April 30, 2015 and January 31, 2015:

 

     Amortized
Cost 		     Gross
Unrealized
Gains 		     Gross
Unrealized
Losses 		     Estimated
Fair Value 		 
     (Amounts in thousands)  

April 30, 2015:

            

Cash

    $ 69,356       $ —         $ —         $ 69,356   

Cash equivalents

      3,615         —           —           3,615   
  

 

 

     

 

 

     

 

 

     

 

 

  

Cash and cash equivalents

   72,971      —        —        72,971   
  

 

 

     

 

 

     

 

 

     

 

 

  

U.S. treasury notes and bonds - short-term

   1,499      1      1,500   

U.S. treasury notes and bonds - long-term

   6,267      12      —        6,279   

U.S. government agency issues - short-term

   2,003      4      —        2,007   

U.S. government agency issues - long-term

   2,490      14      2,504   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total cash, cash equivalents and marketable securities

 $ 85,230    $ 31    $ —      $ 85,261   
  

 

 

     

 

 

     

 

 

     

 

 

  

January 31, 2015:

Cash

 $ 88,444    $ —      $ —      $ 88,444   

Cash equivalents

   1,575      —        —        1,575   
  

 

 

     

 

 

     

 

 

     

 

 

  

Cash and cash equivalents

   90,019      —        —        90,019   
  

 

 

     

 

 

     

 

 

     

 

 

  

U.S. treasury notes and bonds - short-term

   1,500      1      1,501   

U.S. treasury notes and bonds - long-term

   4,268      18      —        4,286   

U.S. government agency issues - short-term

   6,008      7      —        6,015   

U.S. government agency issues - long-term

   2,490      17      2,507   
  

 

 

     

 

 

     

 

 

     

 

 

  

Total cash, cash equivalents and marketable securities

 $ 104,285    $ 43    $ —      $ 104,328   
  

 

 

     

 

 

     

 

 

     

 

 

  
Schedule of Contractual Maturities Available-for-Sale Debt Securities

The following is a schedule of the contractual maturities of available-for-sale investments as of April 30, 2015 (amounts in thousands):

 

     Estimated
Fair Value		  

Maturity of one year or less

    $ 3,507   

Maturity between one and five years

      8,783   
  

 

 

  

Total

 $ 12,290