|
6. The carrying amounts of financial instruments, including cash and cash equivalents, accounts receivable and accounts payable approximated fair value at September 30, 2012 and December 31, 2011 because of the relative short maturity of these instruments.
Investments in available-for-sale securities at September 30, 2012 were (in thousands):
|
|
|
Cost
|
|
Market value
|
|
Unrealized (loss)
|
|
|
Certificates of deposit
|
|
$
|
4,597
|
|
$
|
4,585
|
|
$
|
(12
|
)
|
|
Total Marketable securities
|
|
$
|
4,597
|
|
$
|
4,585
|
|
$
|
(12
|
)
|
The cost and market value of the Company’s investments at September 30, 2012 determined by contractual maturity were (in thousands):
|
|
|
|
|
Estimated
|
|
|
|
|
Cost
|
|
Fair Value
|
|
|
|
|
|
|
|
|
|
Due in one year or less
|
|
$
|
4,597
|
|
$
|
4,585
|
|
|
|
|
|
|
|
|
|
Investments in available-for-sale securities at December 31, 2011 were (in thousands):
|
|
|
Cost
|
|
Market value
|
|
Unrealized (loss)
|
|
|
Certificates of deposit
|
|
$
|
5,394
|
|
$
|
5,375
|
|
$
|
(19
|
)
|
|
Total Marketable securities
|
|
$
|
5,394
|
|
$
|
5,375
|
|
$
|
(19
|
)
|
The cost and market value of the Company’s investments at December 31, 2011 determined by contractual maturity were (in thousands):
|
|
|
|
|
Estimated
|
|
|
|
|
Cost
|
|
Fair Value
|
|
|
|
|
|
|
|
|
|
Due in one year or less
|
|
$
|
5,394
|
|
$
|
5,375
|
|
|
|
|
|
|
|
|
|
|