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Inventory
 6 Months Ended
Dec. 31, 2017
Inventory  
Inventory

NOTE 4– Inventory

 

Inventories consisted of the following (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

December 31, 2017

    

June 30, 2017

 

Raw materials and supplies

 

$

5,331

 

$

5,357

 

Work-in-process

 

 

7,325

 

 

7,767

 

Finished goods

 

 

3,534

 

 

4,113

 

 

 

 

16,190

 

 
17,237

 

Reserve for obsolescence

 

 

(1,848)

 

 
(2,151)

 

Inventory of discontinued operations

 

 

 —

 

 

(717)

 

 

 

$

14,342

 

$

14,369

 

 

 

As part of the Company’s plan to reduce selected inventory to match current market conditions, the Company decreased inventory within certain business units comprising the Precision Components Group segment by $1.3 million during the six months ended December 31, 2017.  See Note 12, Segment Information, for a discussion about the Company’s segments.