Inventories

9 Months Ended

Sep. 30, 2012

Inventories

Inventories

Note 9—Inventories

Inventories at September 30, 2012 and December 31, 2011 are summarized below:

	September 30, 2012		December 31, 2011
	(In thousands)
Raw materials	$	4,000	$	—
Work-in-process	55		—
Finished goods	219		—
Total	$	4,274	$	—

Inventories are stated at the lower of cost or market. Cost is determined by the actual cost method. If inventory costs exceed expected market value due to obsolescence or quantities in excess of expected demand, reserves are recorded for the difference between the cost and market value. These reserves are based on estimates. The aggregate inventory valuation reserve was zero at September 30, 2012.