Quarterly report pursuant to Section 13 or 15(d)

Inventories

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Inventories
3 Months Ended
Mar. 31, 2012
Inventories [Abstract]  
Inventories

2) Inventories

Inventories are stated at the lower of cost or market, cost being determined in accordance with the first-in, first-out method. Inventories are as follows:

 

                 
(In thousands)   March 31,
2012
    Dec. 31,
2011
 

Finished Goods

  $ 7,918     $ 7,420  

Work in Progress

    9,683       8,477  

Raw Material

    24,689       24,197  
   

 

 

   

 

 

 
    $ 42,290     $ 40,094  
   

 

 

   

 

 

 

The Company records valuation reserves to provide for excess, slow moving or obsolete inventory or to reduce inventory to the lower of cost or market value. In determining the appropriate reserve, the Company considers the age of inventory on hand, the overall inventory levels in relation to forecasted demands as well as reserving for specifically identified inventory that the Company believes is no longer salable.