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INVENTORIES

3 Months Ended

Mar. 31, 2013

NOTE B—INVENTORIES

Inventories are stated at the lower of cost or market value. The Company periodically evaluates the quantities on hand relative to current and historical selling prices, and historical and projected sales volume. Based on these evaluations, provisions are made in each period to write inventory down to its net realizable value. Inventories are composed of the following:


	March 31, 2013		December 31, 2012
	(Unaudited)		(Audited)
Work-in-process	$	6,414	$	6,821
Finished goods		7,667		6,095

	$	14,081	$	12,916

Inventory write-off amounted to $51 for the three months ended March 31, 2012. For the three months ended March 31, 2013, we recorded $160 of income due to the utilization of inventory that was written off in past periods.

- 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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