4. BILLINGS IN EXCESS OF COSTS AND ESTIMATED EARNINGS

6 Months Ended

Jun. 30, 2012

Notes to Financial Statements

NOTE 4: BILLINGS IN EXCESS OF COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS AND DEFERRED REVENUES

The components of billings in excess of costs and estimated earnings on uncompleted contracts are summarized below:

	June 30, 2012			December 31, 2011
Costs incurred on uncompleted contracts	$	728		$	473
Estimated earnings on uncompleted contracts		489			179
		1,217			652
Less: Billings to date on uncompleted contracts		(2,327	)		(2,335	)
	$	(1,110	)	$	(1,683	)
Included in the accompanying condensed consolidated balance sheets under the following captions:
Costs and estimated earnings in excess of billings on uncompleted contracts	$	327		$	84
Billings in excess of costs and estimated earnings on uncompleted contracts		(1,437	)		(1,767	)
	$	(1,110	)	$	(1,683	)

The balance in billings in excess of costs and estimated earnings on uncompleted contracts at June 30, 2012 and December 31, 2011 consisted primarily of unearned milestone billings on fixed-price contracts.