NVTL » Topics » Marketable Securities

This excerpt taken from the NVTL 10-Q filed May 11, 2009.

Marketable Securities

The Company’s portfolio of available-for-sale securities by contractual maturity consists of the following as of March 31, 2009 (in thousands):

 

March 31, 2009

   Maturity in
Years
   Amortized
Cost
   Gross
Unrealized
Gains
   Gross
Unrealized
Losses
    Estimated
Fair Value

US Treasury and agency securities

   1 or less    $ 29,959    $ 72      —       $ 30,031

Certificates of deposit

   1 or less      14,860      —        (22 )     14,838

Corporate debentures / bonds

   1 or less      21,672      40      —         21,712
                               

Total short-term marketable securities

        66,491      112      (22 )     66,581
                               

Corporate debentures / bonds

   1 to 2      7,536      —        (9 )     7,527

Certificates of deposit

   1 to 2      7,420      —        (36 )     7,384
                               

Total long-term marketable securities

        14,956      —        (45 )     14,911
                               
      $ 81,447    $     112    $     (67 )   $ 81,492
                               

As of March 31, 2009, net unrealized gains of $45,000, or $29,000 net of taxes, are included in accumulated other comprehensive income in the consolidated balance sheet.

At March 31, 2009, the Company did not have any investments in individual securities that have been in a continuous unrealized loss position for more than 12 months. The Company believes the unrealized losses at March 31, 2009 represent a temporary condition due to the high quality of the investment securities.

This excerpt taken from the NVTL 10-K filed Mar 16, 2009.

Marketable Securities

The Company accounts for its marketable securities in accordance with Statement of Financial Accounting Standards (“SFAS”) No. 115 (“SFAS 115”), Accounting for Certain Investments in Debt and Equity Securities. All of the Company’s cash equivalents and marketable securities are treated as “available-for-sale” under

 

F-6


Table of Contents

NOVATEL WIRELESS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

SFAS 115. Marketable securities consist of highly liquid investments with a maturity of greater than three months when purchased. While it is the Company’s intent to hold such securities until maturity, the Company may sell certain securities for cash flow purposes. Thus, the Company’s marketable securities are classified as available-for-sale and are carried on the balance sheet at fair value with the related unrealized gains and losses included in accumulated other comprehensive income (loss), a component of stockholders’ equity. Realized gains and losses on the sale of marketable securities are determined using the specific-identification method.

The Company classifies its marketable securities as current or non-current in accordance with ARB 43, Restatement and Revision of Accounting Research Bulletins (“ARB 43”). All securities whose maturity or sale is expected within 1 year are classified as “current” on the consolidated balance sheet. All other securities are classified as “long term” on the consolidated balance sheet.

On January 1, 2008, the first day of fiscal 2008, the Company adopted Statement of Financial Accounting Standards No. 157, “Fair Value Measurements” (“SFAS No. 157”), for financial assets and liabilities. The SFAS No. 157 fair value hierarchy consists of three levels: Level 1 fair values are valuations based on quoted market prices in active markets for identical assets or liabilities that the entity has the ability to access; Level 2 fair values are those valuations based on quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities; and, Level 3 fair values are valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

This excerpt taken from the NVTL 10-Q filed Nov 17, 2008.

Marketable Securities

The Company’s portfolio of available-for-sale securities by contractual maturity consists of the following as of September 30, 2008 (in thousands):

 

     Maturity
in Years
   Amortized
Cost
   Gross
Unrealized
Gains
   Gross
Unrealized
Losses
    Estimated
Fair
Value

Asset backed securities

   1 or less    $ 4,217    $ —      $ (20 )   $ 4,197

Commercial paper

   1 or less      14,285      —        —         14,285

Corporate debentures/bonds

   1 or less      35,333      —        (326 )     35,007

Government agency obligations

   1 or less      4,002      7      —         4,009
                               

Total short-term marketable securities

        57,837      7      (346 )     57,498
                               

Government agency obligations

   1 to 2      4,549      —        (20 )     4,529

Corporate debentures/bonds

   1 to 2      2,331      —        (22 )     2,309
                               

Total long-term marketable securities

        6,880      —        (42 )     6,838
                               
      $ 64,717    $ 7    $ (388 )   $ 64,336
                               

As of September 30, 2008, net unrealized losses of $381,000 are included in accumulated other comprehensive loss in the consolidated balance sheet.

At September 30, 2008, the Company did not have any investments in individual securities that have been in a continuous unrealized loss position deemed to be other than temporary for more than 12 months. Because the Company’s general intent is to hold its investment securities to maturity, and considering the high quality of the investment securities, the Company believes that the unrealized losses at September 30, 2008 represent a temporary condition and will not result in realized losses on sale or maturity of the securities.

These excerpts taken from the NVTL 10-K filed Mar 3, 2008.

Marketable Securities

The Company accounts for its marketable securities in accordance with Statement of Financial Accounting Standards (“SFAS”) No. 115, Accounting for Certain Investments in Debt and Equity Securities. All of the Company’s cash equivalents and marketable securities are treated as “available-for-sale” under SFAS No. 115. Marketable securities consist of highly liquid investments with a maturity of greater than three months when purchased. While it is the Company’s intent to hold such securities until maturity, the Company may sell certain securities for cash flow purposes. Thus, the Company’s marketable securities are classified as available-for-sale and are carried on the balance sheet at fair value with the related unrealized gains and losses included in accumulated other comprehensive income (loss), a component of stockholders’ equity. Realized gains and losses on the sale of marketable securities are determined using the specific-identification method.

 

F-6


Table of Contents

NOVATEL WIRELESS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 

Marketable Securities

STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%">The Company accounts for its marketable securities in accordance with Statement of Financial Accounting Standards (“SFAS”) No. 115,
Accounting for Certain Investments in Debt and Equity Securities. All of the Company’s cash equivalents and marketable securities are treated as “available-for-sale” under SFAS No. 115. Marketable securities consist of
highly liquid investments with a maturity of greater than three months when purchased. While it is the Company’s intent to hold such securities until maturity, the Company may sell certain securities for cash flow purposes. Thus, the
Company’s marketable securities are classified as available-for-sale and are carried on the balance sheet at fair value with the related unrealized gains and losses included in accumulated other comprehensive income (loss), a component of
stockholders’ equity. Realized gains and losses on the sale of marketable securities are determined using the specific-identification method.

 


F-6







Table of Contents



NOVATEL WIRELESS, INC.

ALIGN="center">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)

 


This excerpt taken from the NVTL 10-Q filed Nov 9, 2007.

Marketable Securities

As of September 30, 2007, unrealized losses of $10,000 are included in accumulated other comprehensive loss. The Company’s portfolio of available-for-sale securities by contractual maturity consists of the following as of September 30, 2007 (in thousands):

 

     Maturity
in Years
   Amortized
Cost
   Gross
Unrealized
Gains
   Gross
Unrealized
Losses
    Estimated
Fair
Value

Certificates of Deposit

   1 or less    $ 1,699    $ 2    $ —       $ 1,701

Asset backed

   1 or less      9,620      13      —         9,633

Commercial paper

   1 or less      12,252      —        —         12,252

Corporate debentures/bonds

   1 or less      33,787      —        (24 )     33,763
                               

Total short-term marketable securities

        57,358      15      (24 )     57,349
                               

Asset backed

   1 to 2      1,676      6      —         1,682

Corporate debentures/bonds—long-term marketable securities

   1 to 2      4,031      —        (7 )     4,024
                               

Total long-term marketable securities

        5,707      6      (7 )     5,706
                               
      $ 63,065    $ 21    $ (31 )   $ 63,055
                               

At September 30, 2007, the Company did not have any investments in individual securities that have been in a continuous unrealized loss position deemed to be other than temporary for more than 12 months. Because the Company’s general intent is to hold its investment securities to maturity, and considering the high quality of the investment securities, the Company believes that the unrealized losses at September 30, 2007 represent a temporary condition and will not result in realized losses on sale or maturity of the securities.

 

6


This excerpt taken from the NVTL 10-Q filed Aug 9, 2007.

Marketable Securities

As of June 30, 2007, unrealized losses of $16,000 are included in accumulated other comprehensive loss. The Company’s portfolio of available-for-sale securities by contractual maturity consists of the following as of June 30, 2007 (in thousands):

 

     Maturity
in Years
   Amortized
Cost
   Gross
Unrealized
Gains
   Gross
Unrealized
Losses
    Estimated
Fair
Value

Certificates of Deposit

   1 or less    $ 3,200    $ —      $ (1 )   $ 3,199

Asset backed

   1 or less      8,898      —        —         8,898

Commercial paper

   1 or less      12,869      —        —         12,869

Corporate debentures/bonds

   1 or less      34,986      9      (12 )     34,983
                               

Total short-term marketable securities

        59,953      9      (13 )     59,949
                               

Asset backed

   1 to 2      1,670      —        —         1,670

Corporate debentures/bonds—long-term marketable securities

   1 to 2      5,997      —        (12 )     5,985
                               

Total long-term marketable securities

        7,667      —        (12 )     7,655
                               
      $ 67,620    $ 9    $ (25 )   $ 67,604
                               

At June 30, 2007, the Company did not have any investments in individual securities that have been in a continuous unrealized loss position deemed to be other than temporary for more than 12 months. Because the Company’s general intent is to hold its investment securities to maturity, and considering the high quality of the investment securities, the Company believes that the unrealized losses at June 30, 2007 represent a temporary condition and will not result in realized losses on sale or maturity of the securities.

 

6


This excerpt taken from the NVTL 10-Q filed May 10, 2007.

Marketable Securities

As of March 31, 2007, unrealized losses of $23,000 are included in accumulated other comprehensive loss. The Company’s portfolio of available-for-sale securities by contractual maturity consists of the following as of March 31, 2007 (in thousands):

 

     Maturity
in Years
   Amortized
Cost
   Gross
Unrealized
Losses
    Estimated
Fair
Value

U.S. Agency securities

   1 or less    $ 6,227    $ (2 )   $ 6,225

Certificates of Deposit

   1 or less      5,997      (1 )     5,996

Commercial paper

   1 or less      1,492      —         1,492

Corporate debentures/bonds

   1 or less      36,329      (23 )     36,306
                        

Total short-term marketable securities

        50,045      (26 )     50,019
                        

Corporate debentures/bonds – long-term marketable securities

   1 to 2      1,490      3       1,493
                        
      $ 51,535    $ (23 )   $ 51,512
                        

At March 31, 2007, the Company did not have any investments in individual securities that have been in a continuous unrealized loss position deemed to be other than temporary for more than 12 months. Because the Company’s general intent is to hold its investment securities to maturity, and considering the high quality of the investment securities, the Company believes that the unrealized losses at March 31, 2007 represent a temporary condition and will not result in realized losses on sale or maturity of the securities.

 

6


This excerpt taken from the NVTL 10-K filed Mar 16, 2007.

Marketable Securities

The Company accounts for its marketable securities in accordance with Statement of Financial Accounting Standards (“SFAS”) No. 115, Accounting for Certain Investments in Debt and Equity Securities. All of the Company’s cash equivalents and marketable securities are treated as “available-for-sale” under SFAS No. 115. Marketable securities consist of highly liquid investments with a maturity of greater than three months when purchased. While it is the Company’s intent to hold such securities until maturity, the Company may sell certain securities for cash flow purposes. Thus, the Company’s marketable securities are classified as available-for-sale and are carried on the balance sheet at fair value with the related unrealized gains and losses included in accumulated other comprehensive income, a component of stockholders’ equity. Realized gains and losses on the sale of marketable securities are determined using the specific-identification method.

This excerpt taken from the NVTL 10-Q filed Nov 9, 2006.

Marketable Securities

As of September 30, 2006, unrealized losses of $43,000 are included in accumulated other comprehensive loss. The Company’s portfolio of available-for-sale securities by contractual maturity consists of the following as of September 30, 2006 (in thousands):

 

     Maturity
in Years
   Amortized
Cost
   Gross
Unrealized
Losses
    Estimated
Fair
Value

U.S. Agency securities

   1 or less    $ 10,743    $ (34 )   $ 10,709

Asset backed

   1 or less      2,754      —         2,754

Corporate debentures/bonds

   1 or less      28,298      (5 )     28,293

Commercial paper

   1 or less      1,189      —         1,189

Certificates of deposit

   1 or less      2,287      (1 )     2,286
                        

Total short-term marketable securities

        45,271      (40 )     45,231
                        

Corporate debentures/bonds/preferred

   1 to 2      1,177      (3 )     1,174
                        

Total long-term marketable securities

        1,177      (3 )     1,174
                        
      $ 46,448    $ (43 )   $ 46,405
                        

At September 30, 2006, the Company did not have any investments in individual securities that have been in a continuous unrealized loss position deemed to be other than temporary for more than 12 months. Because the Company’s general intent is to hold its investment securities to maturity, and considering the high quality of the investment securities, the Company believes that the unrealized losses at September 30, 2006 represent a temporary condition and will not result in realized losses on sale or maturity of the securities.

 

11


Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki