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Note 2 - Inventories

6 Months Ended

Jun. 30, 2013

2. INVENTORIES

Inventories are stated at the lower of cost (First-In, First-Out (FIFO) Method) or market and consist of the following classes:

(thousands)	June 30, 2013			Dec. 31, 2012
Raw materials	$	26,509		$	24,197
Work in process		4,339			3,000
Finished goods		4,528			3,169
Less: reserve for inventory obsolescence		(812	)		(825	)
Total manufactured goods, net		34,564			29,541
Materials purchased for resale (distribution products)		17,447			17,732
Less: reserve for inventory obsolescence		(337	)		(281	)
Total materials purchased for resale (distribution products), net		17,110			17,451
Total inventories	$	51,674		$	46,992

- 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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