Inventories

Inventories, net of reserves, as of March 31, 2013 and December 31, 2012 consisted of the following:



	March 31, 2013		December 31, 2012
Current:
Raw materials	$	936	$	734
Finished goods	10,668		10,139
	$	11,604	$	10,873
Long-term:
Raw materials	$	857	$	891
Finished goods	956		1,064
	$	1,813	$	1,955

Long-term inventory represents inventory held in excess of our current (next 12 months) requirements based on our recent sales and forecasted level of sales. We expect to sell the above inventory, net of reserves, at or above the stated cost and believe that no loss will be incurred on its sale.

Current finished goods include consigned inventory in the amounts of approximately $1,568 and $1,289 as of March 31, 2013 and December 31, 2012, respectively. Consigned inventory represents inventory at distributors and other customers where revenue recognition criteria have not yet been achieved.

The following table summarizes the losses incurred on valuation of inventory at lower of cost or market value and write-off of obsolete inventory during the three months ended March 31, 2013 and 2012, respectively.



	Three months ended March 31,
	2013		2012
Losses incurred on valuation of inventory and write-off of obsolete inventory	$	—	$	90