NOTE 5 - COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

3 Months Ended

Mar. 31, 2013

Notes to Financial Statements

NOTE 5 - COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

NOTE 5 - COSTS & ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

1) Information relating to uncompleted contracts as of March 31, 2013 is as follows:

(000's omitted)

Costs incurred on uncompleted contracts	$	1,374
Estimated earnings		1,208
		2,582
Less: Billings to date		2,094
Total Costs and estimated earnings on uncompleted contracts	$	488

Included in the accompanying condensed consolidated balance sheet at March 31, 2013 under the following captions:

Costs and estimated earnings in excess of billings on uncompleted contracts	$	488
Less: Billings in excess of costs and estimated earnings on uncompleted contracts		—
Total costs and estimated earnings on uncompleted contracts	$	488

2) Customer advances consist of the following as of March 31, 2013:

	Total
Total Advances	$	6,857
Less: Advances on contracts under construction		2,094
Total Customer Advances	$	4,763