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Inventories

3 Months Ended

Jun. 29, 2013

Note 4 – Inventories

The Company’s inventories consist of high technology semiconductor devices that are specialized in nature, subject to rapid technological obsolescence, and sold in a highly competitive industry. Inventory balances at the end of each period are stated at the lower of cost (determined on a first-in, first-out basis) or net realizable value.

Inventories consist of (in thousands):



	June 29, 2013		March 30, 2013
Raw materials	$	442	$	470
Work-in-process		7,592		7,310
Finished goods		2,104		2,324
Finished goods at distributors and on consignment		1,280		1,240
Total inventories	$	11,418	$	11,344

The Company wrote down excess and obsolete inventory totaling $194,000 for the three months ended June 29, 2013 compared to $156,000 for the same period of the prior fiscal year. The Company sold previously written-down inventory of $489,000 for the three months ended June 29, 2013 compared to $345,000 for the same period last fiscal year.

- 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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