Inventories

Inventories, net of reserves, as of September 30, 2012 and December 31, 2011 consisted of the following:



	September 30, 2012		December 31, 2011
Current:
Raw materials	$	867	$	1,091
Finished goods	11,125		11,474
	$	11,992	$	12,565

Long-term:
Raw materials	$	650	$	444
Finished goods	1,782		1,461
	$	2,432	$	1,905

Long-term inventory represents inventory held in excess of our current requirements for the next 12 months based on our recent sales and forecasted level of sales. We expect to sell the above inventory, net of reserves, at or above the stated cost and believe that no loss will be incurred on its sale.

Current finished goods include consigned inventory in the amounts of approximately $1,270 and $1,199 as of September 30, 2012 and December 31, 2011, respectively. Consigned inventory represents inventory at distributors and other customers where revenue recognition criteria have not yet been achieved.

The following table summarizes the losses incurred on valuation of inventory at lower of cost or market value and write-off of obsolete inventory during the three and nine months ended September 30, 2012 and 2011, respectively.



	Three months ended September 30,				Nine months ended September 30,
	2012		2011		2012		2011
Losses incurred on valuation of inventory and write-off of obsolete inventory	$	—	$	—	$	278	$	—