INVENTORIES INVENTORIES

12 Months Ended

Dec. 31, 2014



4.	INVENTORIES:

Inventories consisted of the following (in thousands):



	December 31,
	2014	2013
Raw materials	7,696	—
Work-in-process	4,419	3,558
Finished goods	24,994	7,037
	37,109	10,595

Inventories included $1.0 million and $1.2 million of inventory consigned to customers at December 31, 2014 and 2013, respectively. During the year ended December 31, 2014, 2013 and 2012, the Company recorded write-downs of inventories of $3.9 million, none, and none respectively. The write-downs for the year ended December 31, 2014 were comprised solely of finished goods inventory, which occurred in the fourth quarter.

- 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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