Note 2 - Contract Receivables

3 Months Ended

Mar. 31, 2017

Notes to Financial Statements

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

NOTE

2

– CONTRACT RECEIVABLE

S

Contract receivables consisted of the following:

	March 31, 2017			December 31, 2016
Billed	$	167,561		$	170,436
Unbilled		114,385			113,520
Allowance for doubtful accounts		(3,151	)		(2,591	)
Contract receivables, net	$	278,795		$	281,365

Contract receivables, net of the established allowance for doubtful accounts, are stated at amounts expected to be realized in future periods. Unbilled receivables result from revenue earned in advance of billing

and which 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, which permits the Company to classify them as current assets in accordance with industry practice.

The Company considers a number of factors in its estimate of allowance for doubtful accounts, including the customer

’s financial condition, historical collection experience, and other factors that

may

bear on collectability of the receivables. The Company writes off contract receivables when such amounts are determined to be uncollectible.