NOTE 5 - COSTS & EARNINGS ON UNCOMPLETED CONTRACTS & BILLINGS

3 Months Ended

Sep. 30, 2011

Notes to Financial Statements

NOTE 5 - COSTS & EARNINGS ON UNCOMPLETED CONTRACTS & BILLINGS

NOTE 5 - COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS AND CUSTOMER ADVANCES

1) Information relating to uncompleted contracts as of September 30, 2011 is as

follows:

(000's omitted)

Costs incurred on uncompleted contracts	$    2,262
Estimated earnings	949
	3,211
Less: Billings to date	3,471
	$     (260)

Included in the accompanying condensed consolidated balance sheet at September 30, 2011 under the following captions:

Costs and estimated earnings in excess of billings on       uncompleted contracts	$    557
Less: Billings in excess of costs and estimated earnings       on uncompleted contracts	817
	$   (260)

2) Customer advances consist of the following as of September 30, 2011:

		Related
	Total	Party	Other
Total Advances	$  7,109	-	$  7,109
Less: Advances
on contracts under construction	3,471	-	3,471
	$  3,638	-	$  3,638