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Marketable Securities | 9 Months Ended
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Apr. 30, 2015
Marketable Securities [Abstract] |
Marketable Securities | Note 3—Marketable Securities The following is a summary of marketable securities:
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
|  | (in thousands) |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |
April 30, 2015: |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit* |  | $ | 19,290 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 19,291 |
Federal Home Loan Bank bond |  |  | 995 |  |  |  | — |  |  |  | — |  |  |  | 995 |
International agency notes |  |  | 1,120 |  |  |  | 2 |  |  |  | — |  |  |  | 1,122 |
Municipal bonds |  |  | 9,967 |  |  |  | 4 |  |  |  | (3 | ) |  |  | 9,968 |
Total |  | $ | 31,372 |  |  | $ | 7 |  |  | $ | (3 | ) |  | $ | 31,376 |
July 31, 2014: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
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. Proceeds from maturities and sales of available-for-sale securities were $4.7 million and $2.9 million in the three months ended April 30, 2015 and 2014, respectively, and $16.8 million and $13.0 million in the nine months ended April 30, 2015 and 2014, respectively. There were no gross realized gains or losses as a result of sales in the three months ended April 30, 2015 and 2014, respectively. The gross realized losses that were included in earnings as a result of sales were $54,000 and nil in the nine months ended April 30, 2015 and 2014, respectively. The Company uses the specific identification method in computing the gross realized gains and gross realized losses on the sales of marketable securities. The contractual maturities of the Company’s available-for-sale debt securities at April 30, 2015 were as follows:
|  | Fair Value |
|  | (in thousands) |
Within one year |  | $ | 20,491 |
After one year through five years |  |  | 9,290 |
After five years through ten years |  |  | 1,219 |
After ten years |  |  | 376 |
Total |  | $ | 31,376 |
The following available-for-sale securities were in an unrealized loss position for which other-than-temporary impairments have not been recognized:
|  | Unrealized Losses |  |  | Fair Value |
|  | (in thousands) |
April 30, 2015: |  |  |  |  |  |
Municipal bonds |  | $ | 3 |  |  | $ | 2,993 |
July 31, 2014: |  |  |  |  |  |  |  |
Equity securities |  | $ | 9 |  |  | $ | 22 |
At April 30, 2015 and July 31, 2014, there were no securities in a continuous unrealized loss position for 12 months or longer.

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