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MARKETABLE SECURITIES
 3 Months Ended
Sep. 30, 2014
MARKETABLE SECURITIES [Abstract]  
MARKETABLE SECURITIES

NOTE 3:- MARKETABLE SECURITIES 

 

As of September 30, 2014, all of the Company's marketable securities were classified as available-for-sale.

 

September 30, 2014 (Unaudited)

 

 

 

    

June 30, 2014

    

 

 

 

Amortized cost

 

 

 

 

 

Gross

unrealized

gain

     

 

 

 

 

Gross

unrealized

loss

     

 

Fair

value

 

 

  

 

 

Amortized cost

 

 

 

 

     

Gross

unrealized

gain

 

 

 

 

Gross

unrealized

loss

     

 

Fair

value

Available-for-sale - matures within one year:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

      

 

 

  

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Stock and index linked notes

 

$

18,499

 

 

$

  1,006

 

 

$

    (1,862

)

 

  

 

$

17,643

    

 

 

$

18,881

 

 

$

  2,522

 

$

(23

)

 

  

$

21,380

Government debentures – fixed interest rate

 

 

67

 

 

 

4

 

 

 

-

 

 

  

 

 

71

    

 

 

 

97

 

 

 

9

 

 

-

 

 

  

 

106

Corporate debentures – fixed interest rate

 

 

790

 

 

 

53

 

 

 

(21

)

 

  

 

 

822

    

 

 

 

452

 

 

 

54

 

 

-

 

 

  

 

506

 

 

$

19,356

 

 

$

  1,063

 

 

$

    (1,883

)

 

  

 

$

18,536

    

 

 

$

19,430

 

 

$

    2,585

 

$

   (23

)

 

  

$

21,992

Available-for-sale - matures after one year through five years:

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

    

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

Government debentures – fixed interest rate

 

 

2,575

 

 

 

59

 

 

 

(16

)

 

  

 

 

2,618

    

 

 

 

2,595

 

 

 

98

 

 

(1

)

 

  

 

2,692

Corporate debentures – fixed interest rate

 

 

4,491

 

 

 

155

 

 

 

(9

)

 

  

 

 

4,637

    

 

 

 

4,906

 

 

 

263

 

 

(5

)

 

  

 

5,164

 

 

$

  7,066

 

 

$

    214

 

 

$

         (25

)

 

  

 

$

 7,255

    

 

 

$

7,501

 

 

$

     361

 

$

  (6

)

 

  

$

7,856

Available-for-sale - matures after five years through ten years:

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

    

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

Corporate debentures – fixed interest rate

 

 

95

 

 

 

12

 

 

 

-

 

 

  

 

 

107

    

 

 

 

94

 

 

 

19

 

 

-

 

 

  

 

113

 

 

$

       95

 

 

$

        12

 

 

$

              -

 

 

  

 

$

      107

    

 

 

$

  94

 

 

$

      19

 

$

   -

 

 

  

$

113

 

 

$

26,517

 

 

$

   1,289

 

 

$

   (1,908

)

 

  

 

$

25,898

    

 

 

$

27,025

 

 

$

   2,965

 

$

(29

)

 

  

$

29,961

 

The following table presents gross unrealized losses and fair values for those investments that were in an unrealized loss position as of September 30, 2014 and June 30, 2014, and the length of time that those investments have been in a continuous loss position:

 

Less than 12 months

 

12 months or greater

 

 

 

Fair Value

 

 

 

 

 

Gross
unrealized loss

 

 

 

Fair Value

 

 

 

 

 

Gross
unrealized loss

 

As of September 30, 2014 (Unaudited)

 

$

     2,336

 

 

 

 

$

       (129

)

 

$

      452

 

 

 

 

$

       (19

)

As of June 30, 2014

 

$

      851

 

 

 

 

$

       (17

)

 

$

      463

 

 

 

 

$

       (12

)

 

The Company typically invests in highly-rated securities. When evaluating the investments for other-than-temporary impairment, the Company reviews factors such as the length of time and extent to which fair value has been below cost basis, the financial condition of the issuer and any changes thereto, and the Company's intent to sell, or whether it is more likely than not it will be required to sell, the investment before recovery of the investment's amortized cost basis.

 

Based on the above factors, the Company concluded that unrealized losses on all available-for-sale securities were not other-than-temporary and no credit loss was present for any of its investments. As such, the Company did not recognize any impairment charges on outstanding securities during the three-month period ended September 30, 2014.