Note 7 - Inventories

6 Months Ended

Jun. 30, 2021

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):

	June 30, 2021		December 31, 2020
Raw materials	$	29,085	$	25,555
Work in process and sub-assemblies		46,558		52,544
Finished goods		24,756		32,298
Total inventories	$	100,399	$	110,397

The lower of cost or market adjustment expensed for inventory for the three months ended June 30, 2021 and 2020 was each $1.3 million. The lower of cost or market adjustment expensed for inventory for the six months ended June 30, 2021 and 2020 was $2.2 million and $2.9 million, respectively. 

For the three months ended June 30, 2021 and 2020, the direct inventory write-offs related to scrap, discontinued products, and damaged inventories were $4.8 million and $3.7 million, respectively. For the six months ended June 30, 2021 and 2020, the direct inventory write-offs related to scrap, discontinued products, and damaged inventories were $10.8 million and $6.2 million, respectively.