Inventories

12 Months Ended

Dec. 31, 2020

Inventories

Inventories

Note 3. Inventories

The components of inventory are summarized below (in thousands):

	December 31,		December 31,
	2020		2019
Inventories:
Raw materials	$	24,738	$	20,677
Work in process		24,215		24,946
Finished goods		2,562		3,529
	$	51,515	$	49,152

As of December 31, 2020 and 2019, carrying values of inventories were net of inventory reserves of $17.7 million and $16.4 million, respectively, for excess and obsolete inventory and $162,000 and $91,000, respectively, for lower of cost or net realizable value reserves.