Inventories

9 Months Ended

Mar. 31, 2022

Inventories

Inventories

Note 6. Inventories

Inventories at March 31, 2022 and June 30, 2021 consisted of the following:

	March 31,		June 30,
(In thousands)	2022		2021
Raw Materials	$	41,184	$	45,370
Work-in-process		7,129		12,685
Finished Goods		47,121		51,490
Total	$	95,434	$	109,545

During the three months ended March 31, 2022 and 2021, the Company recorded write-downs to net realizable value for excess and obsolete inventory of $7.4 million and $0.4 million, respectively. During the nine months ended March 31, 2022 and 2021, the Company recorded write-downs to net realizable value for excess and obsolete inventory of $11.4 million and $23.6 million. The increase in write-downs for excess and obsolete inventory for the three months ended March 31, 2022 was primarily related to the discontinuance of two low-margin prescription products manufactured by KUPI in Seymour, Indiana and several products manufactured at the Silarx plant prior to the sale of the facility. The write-downs for excess and obsolete inventory for the nine months ended March 31, 2022, however, was lower than the prior year-period as a result of a significant write-down of inventory related to the discontinuation of certain product lines during the second quarter of Fiscal 2021.