Inventories

Inventories, net of reserves, as of March 31, 2015 and December 31, 2014 consisted of the following:



	March 31, 2015		December 31, 2014
Current:
Raw materials	$	3,071	$	3,056
Finished goods	12,338		11,408
	$	15,409	$	14,464
Long-term:
Raw materials	$	70	$	59
Finished goods	620		817
	$	690	$	876

Long-term inventory represents inventory held in excess of our current (next 12 months) requirements 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 $1,540 and $1,698 as of March 31, 2015 and December 31, 2014, 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 months ended March 31, 2015 and 2014, respectively.



	Three months ended March 31,
	2015		2014
Net loss (gain) on valuation of inventory and write-off of obsolete inventory	$	47	$	416