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INVENTORIES
9 Months Ended
Sep. 30, 2025
INVENTORIES  
INVENTORIES

NOTE 2 – INVENTORIES

 

Inventories are stated at the lower of cost or net realizable value.  Adjustments are made to standard cost, which approximates actual cost on a first-in, first-out basis.  We estimate reductions to inventory for obsolete, slow-moving, excess and non-salable inventory by reviewing current transactions and forecasted product demand.  We evaluate our inventories on an item-by-item basis and record inventory adjustments accordingly.  If there is a significant decrease in demand for our products, uncertainty during product line transitions, or a higher risk of inventory obsolescence because of rapidly changing technology and customer requirements, we may be required to increase our inventory adjustments and our gross margin could be adversely affected. 

 

Inventories consisted of the following components:

 

 

 

September 30,

2025

 

 

December 31,

2024

 

(in thousands)

 

 

 

 

 

 

Raw material

 

$2,958

 

 

$3,273

 

Work-in-process

 

 

1,877

 

 

 

1,845

 

Finished goods

 

 

965

 

 

 

1,094

 

Inventories

 

$5,800

 

 

$6,212