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Marketable Securities
 12 Months Ended
Jul. 31, 2015
Marketable Securities [Abstract]  
Marketable Securities

Note 4—Marketable Securities

 

The following is a summary of marketable securities:

 

(in thousands)   Amortized Cost     Gross Unrealized Gains     Gross Unrealized Losses     Fair Value  
July 31, 2015                        
Available-for-sale securities:                        
Certificates of deposit*   $ 22,736     $ 3     $ (2 )   $ 22,737  
Federal Home Loan Bank bonds     795       —       —       795  
International agency notes     1,120       —       (1 )     1,119  
Mutual funds     5,000       —       (18 )     4,982  
Straight Path Communications Inc. common stock     2,086       —       (563 )     1,523  
Municipal bonds     9,125       9       (3 )     9,131  
TOTAL   $ 40,862     $ 12     $ (587 )   $ 40,287  
July 31, 2014                                
Available-for-sale securities:                                
Certificates of deposit*   $ 10,375     $ —     $ —     $ 10,375  
Equity securities     31       —       (9 )     22  
Municipal bonds     2,475       1       —       2,476  
TOTAL   $ 12,881     $ 1     $ (9 )   $ 12,873  

 

* Each of the Company’s certificates of deposit has a CUSIP, was purchased in the secondary market through a broker and may be sold in the secondary market.

 

In July 2015, the Company received 64,624 shares of Straight Path Class B common stock in connection with the lapsing of restrictions on awards of restricted stock (see Note 20).

 

Proceeds from maturities and sales of available-for-sale securities were $24.1 million, $17.3 million and $1.7 million in fiscal 2015, fiscal 2014 and fiscal 2013, respectively. Realized losses from sales of available-for-sale securities were $0.1 million, nil and nil in fiscal 2015, fiscal 2014 and fiscal 2013, respectively. There were no realized gains from sales of available-for-sale securities in fiscal 2015, fiscal 2014 and fiscal 2013. In fiscal 2014, the Company recorded a loss of $0.1 million for the other than temporary decline in market value of its equity securities.

  

The contractual maturities of the Company’s available-for-sale debt securities at July 31, 2015 were as follows:

 

(in thousands)   Fair Value  
Within one year   $ 21,551  
After one year through five years     10,784  
After five years through ten years     1,008  
After ten years     439  
TOTAL   $ 33,782  

 

The following available-for-sale securities were in an unrealized loss position for which other-than-temporary impairments have not been recognized:

 

(in thousands)   Unrealized Losses     Fair 
Value		  
             
July 31, 2015            
Certificates of deposit   $ 2     $ 2,194  
International agency notes     1       1,119  
Mutual funds     18       4,982  
Straight Path Communications Inc. common stock     563       1,523  
Municipal bonds     3       3,466  
TOTAL   $ 587     $ 13,284  
July 31, 2014                
Equity securities   $ 9     $ 22  

 

At July 31, 2015 and 2014, there were no securities in a continuous unrealized loss position for 12 months or longer.