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INVENTORIES
 9 Months Ended
Sep. 30, 2016
INVENTORIES  
INVENTORIES

3.INVENTORIES

 

Inventories include costs of materials, direct labor and manufacturing overhead, and are stated at the lower of cost (first-in, first-out basis) or market, as follows (in thousands):

 

 

 

September 30,
2016

 

December 31,
2015

 

Parts and raw materials

 

$
24,371

 

$
23,710

 

Work-in-process

 
5,806

 
2,404

 

Finished goods

 
4,905

 
3,730

 

 

 

 

 

 

 

 

 
35,082

 
29,844

 

Less reserves

 
(4,787

)
(3,669

)

 

 

 

 

 

 

Inventories, net

 

$
30,295

 

$
26,175