Contract Receivables, net

3 Months Ended

Oct. 29, 2011

Contract Receivables, net [Abstract]

Contract Receivables, net

	October 29, 2011			July 31, 2011
United States government -
Billed	$	4,911,433		$	2,455,312
Unbilled		2,425,841			3,364,476
		7,337,274			5,819,788
Industrial customers and state and municipal governments -
Billed		36,459,917			40,181,320
Unbilled		27,026,076			24,504,849
		63,485,993			64,686,169
Allowance for doubtful accounts and contract adjustments		(7,850,597	)		(6,755,087	)
	$	62,972,670		$	63,750,870

United States government receivables arise from long-term U.S. government prime contracts and subcontracts. Unbilled receivables result from revenues which have been earned, but are not billed as of period-end.  The above unbilled balances are comprised of incurred costs plus fees not yet processed and billed; and differences between year-to-date provisional billings and year-to-date actual contract costs incurred.  Included in the balance of receivables for industrial customers and state and municipal customers are receivables due under the contracts with organizations in Kuwait of $14.2 million and $12.4 million at October 29, 2011 and July 31, 2011, respectively.  Of the outstanding balances, approximately $1.3 million and $1.8 million were included in billings in excess of revenue as of October 29, 2011 and July 31, 2011, respectively.  Management anticipates that the October 29, 2011 unbilled receivables will be substantially billed and collected within one year.   Within the above billed balances are contractual retainages in the amount of approximately $276,000 at October 29, 2011 and $222,000 at July 31, 2011. Management anticipates that the October 29, 2011 retainage balance will be substantially collected within one year.