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Note 3 - Inventories

12 Months Ended

Jun. 30, 2013

Note 3 – Inventories

Inventories consist of the following:

	June 30,
	2013			2012
	(In thousands)
Raw materials	$	1,458		$	3,961
Finished goods		1,253			2,235
Subtotal		2,711			6,196
Less: Inventory reserve		(1,083	)		(1,721	)
	$	1,628		$	4,475

During fiscal year 2013, the Company outsourced much of its tape library manufacturing to a contract manufacturer, CTS Electronics Manufacturing Solutions Inc (“CTS”) in Moorpark, CA. As part of its ongoing product evaluation, the Company analyzed its raw material inventory levels and recognized inventory reserves on materials deemed to be in excess of one year demand.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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