4. BILLINGS, COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

3 Months Ended

Mar. 31, 2014

Billings Costs And Estimated Earnings On Uncompleted Contracts

BILLINGS, COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

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

	March 31, 2014			December 31, 2013
Costs incurred on uncompleted contracts	$	5,881		$	14,496
Estimated earnings on uncompleted contracts		3,908			5,539
		9,789			20,035
Less: Billings to date on uncompleted contracts		(5,193	)		(14,389	)
	$	4,596		$	5,646
Included in the accompanying consolidated balance sheets under the following captions:
Costs and estimated earnings in excess of billings on uncompleted contracts	$	4,908		$	5,847
Billings in excess of costs and estimated earnings on uncompleted contracts		(312	)		(201	)
	$	4,596		$	5,646

The balances in costs and estimated earnings in excess of billings on uncompleted contracts at March 31, 2014 and December 31, 2013 consisted of earned but unbilled revenues related to fixed-price projects.

The balances in billings in excess of costs and estimated earnings on uncompleted contracts at March 31, 2014 and December 31, 2013 consisted of unearned milestone billings related to fixed-price projects.