Note 7 - Inventories

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Inventory Disclosure [Text Block]

Note 7.  Inventories

Inventories, net of inventory write-downs, consist of the following for the periods indicated (in thousands):

	March 31, 2020		December 31, 2019
Raw materials	$	24,177	$	15,570
Work in process and sub-assemblies		50,441		50,787
Finished goods		12,491		18,671
Total inventories	$	87,109	$	85,028

The lower of cost or market adjustment expensed for inventory for the three months ended March 31, 2020 and 2019 was $1.6 million and $2.3 million, respectively. For the three months ended March 31, 2020 and 2019, the direct inventory write-offs related to scrap, discontinued products, and damaged inventories were $2.5 million and $2.8 million, respectively.