4. COSTS, ESTIMATED EARNINGS AND BILLINGS ON UNCOMPLETED CONTRACTS

9 Months Ended

Sep. 30, 2012

Costs Estimated Earnings And Billings On Uncompleted Contracts

NOTE 4: COSTS, ESTIMATED EARNINGS AND BILLINGS ON UNCOMPLETED CONTRACTS

Costs, estimated earnings and billings on uncompleted contracts are summarized below:

	September 30, 2012			December 31, 2011
Costs incurred on uncompleted contracts	$	5,200		$	473
Estimated earnings on uncompleted contracts		3,381			179
		8,581			652
Less: Billings on uncompleted contracts		(7,123	)		(2,335	)
	$	1,458		$	(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	$	1,726		$	84
Billings in excess of costs and estimated earnings on uncompleted contracts		(268	)		(1,767	)
	$	1,458		$	(1,683	)

The balance in costs and estimated earnings in excess of billings on uncompleted contracts at September 30, 2012 consisted primarily of accrued revenues on fixed-price contracts.

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