4. Inventories, net

9 Months Ended

Sep. 30, 2017

Notes to Financial Statements

NOTE 4 - Inventories, net

The components of inventories, net of allowances for slow-moving, excess or obsolete inventory, consist of the following:

	September 30, 2017		December 31, 2016
Finished goods	$	3,535	$	3,216
Work in process		7,663		6,612
Raw materials		4,037		4,171
	$	15,235	$	13,999

Allowances for slow-moving, excess, or obsolete inventory are used to state the Company’s inventories at the lower of cost or net realizable value. The allowances were approximately $661 at September 30, 2017, compared with approximately $1,607 at December 31, 2016. During the three months ended September 30, 2017, the Company disposed of excess and obsolete inventory for which reserves had been previously established. The impact to the Company’s balance sheet and statement of operations was not material.