REVENUE (Tables)

3 Months Ended

Mar. 31, 2018

REVENUE

Schedule of disaggregation of revenue

(in thousands)	Three Months Ended March 31, 2018
Cost-plus reimbursement contracts	$	33,777
Fixed-price contracts		9,344
Total	$	43,121

Schedule of contract balances

	March 31, 2018				December 31, 2017 (1)
(in thousands)	Asset		Liability		Asset		Liability
Costs and estimated earnings on contracts in progress	$	33,758	$	(2,559)	$	22,274	$	(422)
Billings on contracts in progress		(23,912)		(2,735)		(10,787)		(6,627)
Contracts in progress, net	$	9,846	$	(5,294)	$	11,487	$	(7,049)

(1) Prior period amounts have not been adjusted for the adoption of ASC Topic 606 under the modified retrospective method.

For the three months ended March 31, 2018, the Company recognized revenue of approximately $4.5 million that was included in the corresponding contracts in progress liability balance at December 31, 2017.

Schedule of transaction price allocated to the remaining performance obligations

(in thousands)	2019		2020		Thereafter		Total
Fixed-price contracts	$	6,500	$	6,500	$	9,526		22,526