INVENTORIES

3 Months Ended

Mar. 31, 2016

INVENTORIES

INVENTORIES

3.INVENTORIES

Inventories include costs of materials, direct labor and manufacturing overhead, and are stated at the lower of cost (first-in, first-out basis) or market, as follows (in thousands):

	March 31, 2016			December 31, 2015
Parts and raw materials	$	27,117		$	23,710
Work-in-process	4,699			2,404
Finished goods	4,744			3,730
	36,560			29,844
Less reserves	(5,281		)	(3,669		)
Inventories, net	$	31,279		$	26,175