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Inventories
 9 Months Ended
Sep. 30, 2016
Inventory Disclosure [Abstract]  
Inventories

5. Inventories

 

Inventories, net of reserves, as of September 30, 2016 and December 31, 2015 consisted of the following:

 

    September 30, 2016     December 31, 2015  
Current:                
Raw materials   $ 2,460     $ 2,735  
Finished goods     9,289       10,712  
    $ 11,749     $ 13,447  
Long-term:                
Raw materials   $ 477     $ 375  
Finished goods     1,276       1,643  
    $ 1,753     $ 2,018  

 

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, although there can be no assurance of the timing or amount of any sales.

 

Current finished goods do not include consigned inventory in the amounts of approximately $1,538 and $1,628 as of September 30, 2016 and December 31, 2015, respectively. Distributor channel inventories represent inventories 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, 2016 and 2015, respectively.

 

    Three months ended September 30,     Nine months ended September 30,  
    2016     2015     2016     2015  
Net loss on valuation of inventory and write-off of obsolete inventory   $ 328     $ 266     $ 458     $ 396