Inventory

Inventory is stated at the lower of cost (average cost) or net realizable value. The Company periodically reviews the quantities and carrying values of its inventory to assess recoverability. The costs associated with write‑downs for excess quantities, technological obsolescence, or component rejections are charged to cost of revenues as incurred and result in a new cost basis for that item in inventory. The components of inventory are as follows:



	March 31,		December 31,
(in thousands)	2018		2017
Raw materials	$	11,779	$	11,326
Work in process and semi-finished goods	13,549		6,039
Finished goods	10,023		12,205
	$	35,351	$	29,570