Note 5. Inventories

The components of inventories are as follows:


	March 31,
	2012		2011
	(in $000’s)
Raw materials and supplies	$	3,586	$	2,784
Work-in-progress		4,098		3,689
Finished goods		3,458		1,032

	$	11,142	$	7,505

The Company’s inventories relate to its circulatory care product lines, primarily the AB5000, BVS 5000 and Impella product platforms. Finished goods and work-in-process inventories consist of direct material, labor and overhead. During the years ended March 31, 2012, 2011, and 2010, the Company recorded $1.8 million, $2.8 million and $3.5 million, respectively, in write-downs of inventory.

From time to time, the Company loans finished goods inventory on a short-term basis to customers for demonstration purposes and this inventory is amortized over a one to five-year life. The Company had $0.4 million and $0.7 million in demo inventory at March 31, 2012 and March 31, 2011, respectively. Amortization expense related to demo inventory was $0.5 million, $0.6 million and $1.2 million for the years ended March 31, 2012, 2011, and 2010, respectively.