4. BILLINGS, COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

3 Months Ended

Mar. 31, 2013

Billings Costs And Estimated Earnings On Uncompleted Contracts

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

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

	March 31, 2013			December 31, 2012
Costs incurred on uncompleted contracts	$	8,962		$	9,915
Estimated earnings on uncompleted contracts		4,597			4,714
		13,559			14,629
Less: Billings to date on uncompleted contracts		(11,350	)		(12,835	)
	$	2,209		$	1,794
Included in the accompanying consolidated balance sheets under the following captions:
Costs and estimated earnings in excess of billings on uncompleted contracts	$	3,432		$	2,547
Billings in excess of costs and estimated earnings on uncompleted contracts		(1,223	)		(753	)
	$	2,209		$	1,794

The balances in costs in excess of billings and estimated earnings on uncompleted contracts at March 31, 2013 and December 31, 2012 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 March 31, 2013 and December 31, 2012 consisted of unearned milestone billings related to large fixed-price projects.