QTM » Topics » Cash, Cash Equivalents and Short-term Investments

This excerpt taken from the QTM 10-K filed Nov 21, 2007.

Cash, Cash Equivalents and Short-term Investments

The following is a summary of our cash, cash equivalents and short-term investments (in thousands):

 

     As of March 31,
     2007    2006

Cash

   $ 40,122    $ 63,140

Certificates of deposit

     —        11,664

Money market funds

     20,459      48,494

Auction rate securities

     35,000      99,975
             
   $ 95,581    $ 223,273
             

Included in cash and cash equivalents

   $ 60,581    $ 123,298

Included in short-term investments

     35,000      99,975
             
   $ 95,581    $ 223,273
             

A substantial portion of cash was invested in overnight interest-bearing accounts as of March 31, 2007.

Our auction rate securities are classified as available for sale investments. The difference between the amortized cost of auction rate securities and fair value was immaterial as of March 31, 2007 and March 31, 2006. There were no unrealized gains or losses on short-term investments as of March 31, 2007 and 2006. As of March 31, 2007, the average auction rate securities portfolio duration was less than 45 days and the securities had contractual maturities greater than ten years.

During fiscal 2007, 2006 and 2005, we sold auction rate securities and marketable equity securities and realized gains and losses as follows (in thousands):

 

    

Realized

Gains

  

Realized

Losses

  

Net

Gains

2007

   $ 617    $ —      $ 617

2006

     —        —        —  

2005

     1,238      —        1,238
This excerpt taken from the QTM 10-K filed Jun 13, 2007.

Cash, Cash Equivalents and Short-term Investments

The following is a summary of our cash, cash equivalents and short-term investments (in thousands):

 

     As of March 31,
     2007    2006

Cash

   $ 40,122    $ 63,140

Certificates of deposit

     —        11,664

Money market funds

     20,459      48,494

Auction rate securities

     35,000      99,975
             
   $ 95,581    $ 223,273
             

Included in cash and cash equivalents

   $ 60,581    $ 123,298

Included in short-term investments

     35,000      99,975
             
   $ 95,581    $ 223,273
             

A substantial portion of cash was invested in overnight interest-bearing accounts as of March 31, 2007.

Our auction rate securities are classified as available for sale investments. The difference between the amortized cost of auction rate securities and fair value was immaterial as of March 31, 2007 and March 31, 2006. There were no unrealized gains or losses on short-term investments as of March 31, 2007 and 2006. As of March 31, 2007, the average auction rate securities portfolio duration was less than 45 days and the securities had contractual maturities greater than ten years.

 

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During fiscal 2007, 2006 and 2005, we sold auction rate securities and marketable equity securities and realized gains and losses as follows (in thousands):

 

    

Realized

Gains

  

Realized

Losses

  

Net

Gains

2007

   $ 617    $ —      $ 617

2006

     —        —        —  

2005

     1,238      —        1,238
This excerpt taken from the QTM 10-K filed Jun 12, 2006.

Cash Equivalents and Short-Term Investments

Quantum considers all highly liquid debt instruments with a maturity of 90 days or less at the time of purchase to be cash equivalents. Cash equivalents are carried at fair value, which approximates their cost.

Investments with original maturities of greater than three months are classified as short-term investments, as these investments generally consist of highly marketable securities that are intended to be available to meet current cash requirements. All of our investments are classified as available-for-sale and are carried at fair market value.  Realized gains and losses and declines in value judged to be other-than-temporary are recorded in other income or expense. The cost of securities sold is based on the specific identification method.

This excerpt taken from the QTM 10-K filed Jun 8, 2005.

Cash Equivalents and Short-Term Investments

Quantum considers all highly liquid debt instruments with a maturity of 90 days or less at the time of purchase to be cash equivalents. Cash equivalents are carried at fair value, which approximates their cost.

Investments with original maturities of greater than three months are classified as short-term investments, as these investments generally consist of highly marketable securities that are intended to be available to meet current cash requirements. All of our

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investments are classified as available-for-sale and are carried at fair market value.  Realized gains and losses and declines in value judged to be other-than-temporary are recorded in other income or expense. The cost of securities sold is based on the specific identification method.

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