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INVENTORIES

6 Months Ended

Jun. 30, 2012

INVENTORIES

NOTE 5 — INVENTORIES

The components of inventories as of June 30, 2012 and December 31, 2011 are summarized as follows:

		June 30,			December 31,
		2012			2011

Raw materials		$	23,055		$	11,943
Work-in-process		11,555			7,437
Finished goods		4,827			4,921
		39,437			24,301
Less: Reserve for excess and obsolete inventory		(720		)	(946		)
Net inventories		$	38,717		$	23,355

The significant increase in inventories from year-end is related to the significant build-up of raw materials within the Company’s Towers and Weldments business due to increased steel purchases in support of production for multiple tower designs, as well as production delays encountered in the second quarter. The Company expects inventory levels to revert back to historical levels in the latter half of 2012.

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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