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MARKETABLE SECURITIES
 3 Months Ended
Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]  
MARKETABLE SECURITIES
(4) MARKETABLE SECURITIES
The Company invests its excess cash in commercial paper, U.S. government debt securities, corporate debt securities and other securities with maturities generally ranging from three months to five years from the date of purchase. The Company uses the specific-identification method to determine the cost of securities sold. At September 30, 2016, the Company had no marketable securities. At June 30, 2016, marketable securities, classified as available-for-sale, consisted of the following (in thousands):
 
Amortized Cost
Gross Unrealized Gains
Gross Unrealized Losses
Fair Market Value
June 30, 2016
 
 
 
 
Corporate debt securities
$
33,267

$
—

$
(135
)
$
33,132

Asset-backed securities
14,755

3

(1
)
14,757

 
$
48,022

$
3

$
(136
)
$
47,889


At June 30, 2016, corporate debt securities and asset-backed securities were classified as current and long-term marketable securities in the accompanying condensed consolidated balance sheets. See Note 5 - Fair Value Measurements for further discussion related to the Company's measurement of fair market value for its marketable securities.