Inventories

9 Months Ended

Sep. 30, 2012

Inventories

3. Inventories

Inventories as of September 30, 2012 and December 31, 2011 were as follows:

	September 30,			December 31,
In thousands	2012			2011
Raw materials	$	14,019		$	15,068
Work in process		13,242			11,569
Finished goods		9,805			9,915
		37,066			36,552
Less: Progress billings		(4,129	)		(2,706	)
Total inventories	$	32,937		$	33,846

Included in work in process is gross tooling inventory of $7.4 million and $6.4 million at September 30, 2012 and December 31, 2011, respectively. Tooling inventory, net of progress billings, was $3.3 million and $3.7 million at September 30, 2012 and December 31, 2011, respectively.