FURMANITE CORP | 2012 | FY | 3


4. Inventories, net

Inventories consisted of the following at December 31, (in thousands):

 

                 
    2012     2011  

Raw materials and supplies

  $ 25,124     $ 21,341  

Work-in-process

    8,449       6,801  

Finished goods

    116       113  

Excess and obsolete reserve

    (1,978     (1,698
   

 

 

   

 

 

 

Total inventories

  $ 31,711     $ 26,557  
   

 

 

   

 

 

 

For the years ended December 31, 2012 and 2010, the Company recognized expense of $0.3 million and $0.7 million, respectively, in operating costs for excess and obsolete inventory. Amounts expensed for excess and obsolete inventory were not significant for the year ended December 31, 2011.

 


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