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Fair Value Measurements (Tables) | 12 Months Ended
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Jun. 30, 2012
Assets and Liabilities Carried at Fair Value Measured on Recurring Basis | The following table summarizes the Company’s assets and liabilities carried at fair value measured on a recurring basis at June 30, 2012 and 2011 by valuation hierarchy:
|  | June 30, 2012 |
Description |  | Total Carrying Value |  |  | Quoted prices in active markets (Level 1) |  |  | Significant other observable inputs (Level 2) |  |  | Significant unobservable inputs (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | $ | 4,292 |  |  | $ | 4,042 |  |  | $ | 250 |  |  | $ | — |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  |  | 5,950 |  |  |  | 3,684 |  |  |  | 2,266 |  |  |  | — |
Commercial paper |  |  | 3,046 |  |  |  | — |  |  |  | 3,046 |  |  |  | — |
Certificates of Deposit |  |  | 950 |  |  |  | — |  |  |  | 950 |  |  |  | — |
|  | $ | 14,238 |  |  | $ | 7,726 |  |  | $ | 6,512 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
|  | June 30, 2011 |
Description |  | Total Carrying Value |  |  | Quoted prices in active markets (Level 1) |  |  | Significant other observable inputs (Level 2) |  |  | Significant unobservable inputs (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents |  | $ | 8,678 |  |  | $ | 8,678 |  |  | $ | — |  |  | $ | — |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  |  | 7,312 |  |  |  | 5,792 |  |  |  | 1,520 |  |  |  | — |
U.S. Government obligations |  |  | 1,205 |  |  |  | — |  |  |  | 1,205 |  |  |  | — |
Commercial paper |  |  | 2,699 |  |  |  | — |  |  |  | 2,699 |  |  |  | — |
|  | $ | 19,894 |  |  | $ | 14,470 |  |  | $ | 5,424 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities |  | $ | 170 |  |  | $ | — |  |  | $ | — |  |  | $ | 170 |
Fair Value Valuation Assumptions | The Company’s derivative liabilities were classified as Level 3 and valued using the Black-Scholes model. At June 30, 2012 and 2011, the fair values were derived by applying the following assumptions:
|  | June 30,
|  | 2012 |  | 2011
Expected term (in years) |  | 0.05 |  | 1.05
Stock volatility |  | 90% |  | 95%
Risk-free interest rate |  | 0.03% |  | 0.19%
Expected dividends |  | 0% |  | 0%
Liabilities Measured at Fair Value on Recurring Basis | The reconciliation of the Company’s liabilities measured at fair value on a recurring basis using unobservable inputs (Level 3) is as follows:
|  | June 30, |
|  | 2012 |  |  | 2011 |
Balance at beginning of year |  | $ | 170 |  |  | $ | 1,310 |
Change in fair value of derivatives—other income |  |  | 170 |  |  |  | 1,140 |
Balance at end of year |  | $ | — |  |  | $ | 170 |
Summary of Assets Carried at Fair Value Measured on Nonrecurring Basis | The following table summarizes the Company’s assets carried at fair value measured on a nonrecurring basis at December 31, 2011 and the losses recorded for the six month period then ended:
|  | December 31, 2011 |  |  |  |
|  | Total Carrying Value |  |  | Quoted prices in active markets (Level 1) |  |  | Significant other observable inputs (Level 2) |  |  | Significant unobservable inputs (Level 3) |  |  | Total Losses |
|  | (In thousands) |  |  |  |
Finite-lived intangible assets |  | $ | 4,596 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,596 |  |  | $ | 14,830 |

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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 6 -Footnote 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258 + Details
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