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INVENTORIES

6 Months Ended

Jun. 30, 2011

NOTE D - INVENTORIES

Inventories are stated at the lower of cost or market. Cost is determined using the first-in, first-out (“FIFO”) method. Market is replacement cost or net realizable value. We estimate reserves for inventory obsolescence based on our judgment of future realization. Inventories were comprised of the following (in thousands):

	June 30, 2011			December 31, 2010
Raw materials	$	6,598		$	5,709
Work in process		2,703			2,423
Finished goods		5,019			4,625
Spare parts and supplies		915			928
		15,235			13,685
Allowance for obsolete inventory		(696	)		(569	)
Inventories, net	$	14,539		$	13,116

- 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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