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INVENTORY
6 Months Ended
Jun. 30, 2024
Inventory Disclosure [Abstract]  
INVENTORY

5. INVENTORY:

Inventory consisted of the following (in thousands):

 

 

June 30, 2024

 

 

December 31, 2023

 

Raw materials

 

$

107,143

 

 

$

113,400

 

Work-in-process

 

 

20,204

 

 

 

9,433

 

Finished goods

 

 

44,496

 

 

 

52,962

 

Inventory

 

$

171,843

 

 

$

175,795

 

The Company recorded an increase in its inventory reserves of $289,000 and $781,000 for the three months ended June 30, 2024 and 2023, respectively, and $289,000 and $4.1 million for the six months ended June 30, 2024 and 2023, respectively, due to excess inventory levels in certain products.