Note 3 - Contract Receivables

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

NOTE

3

—CONTRACT RECEIVABLES

Contract receivables consisted of the following at

December

 

31:

 

	201 6			201 5
Billed	$	168,012		$	159,985
Unbilled		108,432			90,262
Retainages		5,088			5,486
Other		2,424			3,370
Allowance for doubtful accounts		(2,591	)		(2,138	)
Contract receivables, net	$	281,365		$	256,965

Contract receivables, net of the established allowance, are stated at amounts expected to be realized in future periods. Unbilled receivables result from revenue that has been earned in advance of billing. Unbilled receivables can be invoiced at contractually defined intervals or milestones, as well as upon completion of the contract or government audits. The Company anticipates that the majority of unbilled receivables will be substantially billed and collected within

one

year, and therefore, classifies them as current assets in accordance with industry practice.