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INVENTORIES

6 Months Ended

Jun. 30, 2015

INVENTORIES

INVENTORIES

NOTE 4 — INVENTORIES

The components of inventories as of June 30, 2015 and December 31, 2014 are summarized as follows:

		June 30,			December 31,
		2015			2014
Raw materials		$	28,837		$	21,385
Work-in-process			11,907			9,565
Finished goods			5,993			6,769
			46,737			37,719
Less: Reserve for excess and obsolete inventory			(3,585)			(2,798)
Net inventories		$	43,152		$	34,921

The significant increase in inventory is primarily attributable to the Towers and Weldments segment, where inventories have risen $8,485 since December 31, 2014. The sharp rise in raw materials reflects unusually high levels of steel plate at the Company’s Abilene, Texas tower plant, where production difficulties encountered in late 2014 and extending into early 2015 reduced the rate of material consumption; those difficulties have been resolved.

The increase in the reserve for excess and obsolete inventory was caused by the decision to exit the market for servicing older-generation kilowatt and community wind turbines and consolidate the Company’s repair activities into a single facility within the Services segment.

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- 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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 210



-SubTopic 10



-Section S99



-Paragraph 1



-Subparagraph (SX 210.5-02.6)



-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682



Reference 2: http://www.xbrl.org/2003/role/presentationRef



-Publisher FASB



-Name Accounting Standards Codification



-Topic 210



-SubTopic 10



-Section 50



-Paragraph 1



-URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766



Reference 3: http://www.xbrl.org/2003/role/presentationRef



-Publisher SEC



-Name Regulation S-X (SX)



-Number 210



-Section 02



-Paragraph 6



-Subparagraph a, b, c



-Article 5

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