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Inventories

12 Months Ended

Dec. 31, 2014

Inventory Disclosure [Abstract]

NOTE 4 - INVENTORIES

Inventories are stated at the lower of cost (first-in, first-out method) or market (net realizable value) and consisted of the following at December 31, (in thousands):

		December 31, 2014				December 31, 2013
Gross Inventory
Raw materials		$	5,896			$	6,697
Work-in-process			1,703				1,553
Finished goods			1,839				2,799
Total gross inventories		$	9,438			$	11,049

Inventory Reserve
Raw materials		$	2,582			$	3,150
Work-in-process			435				431
Finished goods			382				1,111
Total reserve		$	3,399			$	4,692

Net Inventory
Raw materials		$	3,314			$	3,547
Work-in-process			1,268				1,122
Finished goods			1,457				1,688
Total net inventories		$	6,039			$	6,357

The movement in the Inventory reserve was as follows:

Inventory reserve at January 1		$	4,692			$	4,464
Current year reserve			611				583
Written off in year			(1,660	)			(438	)
Foreign currency translation			(244	)			83
Inventory reserve at December 31		$	3,399			$	4,692

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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