2. COSTS, ESTIMATED EARNINGS AND BILLINGS ON UNCOMPLETED CONTRACTS

12 Months Ended

Dec. 31, 2012

Costs Estimated Earnings And Billings On Uncompleted Contracts

NOTE 2: COSTS, ESTIMATED EARNINGS AND BILLINGS ON UNCOMPLETED CONTRACTS

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

	December 31, 2012			December 31, 2011
Costs incurred on uncompleted contracts	$	9,915		$	473
Estimated earnings on uncompleted contracts		4,714			179
		14,629			652
Less: Billings to date on uncompleted contracts		(12,835	)		(2,335	)
	$	1,794		$	(1,683	)
Included in the accompanying consolidated balance sheets under the following captions:
Costs and estimated earnings in excess of billings on uncompleted contracts	$	2,547		$	84
Billings in excess of costs and estimated earnings on uncompleted contracts		(753	)		(1,767	)
	$	1,794		$	(1,683	)

The balances in costs in excess of billings and estimated earnings on uncompleted contracts at December 31, 2012 and 2011 consisted of earned but unbilled revenues related to large fixed-price projects.

The balances in billings in excess of costs and estimated earnings on uncompleted contracts at December 31, 2012 and 2011 consisted of unearned milestone billings related to large fixed-price projects.