CONTRACT ASSETS AND CONTRACT LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2018

Contract Assets And Contract Liabilities Tables Abstract

Schedule of net contract assets (liabilities)

Net Contract assets (liabilities) consist of the following:

	June 30, 2018
	U.S.
	Government			Commercial			Total
Contract assets	$	53,171,382		$	62,009,073		$	115,180,455
Contract liabilities		(535,366	)		(48,214	)		(583,580	)
Net contract assets (liabilities)	$	52,636,016		$	61,960,859		$	114,596,875

		December 31, 2017 (1)
	U.S.
	Government			Commercial			Total
Contract assets	$	54,591,601		$	56,566,950		$	111,158,551
Contract liabilities		(224,339	)		(21,991	)		(246,330	)
Net contract assets (liabilities)	$	54,367,262		$	56,544,959		$	110,912,221

(1) On January 1, 2018, as a result of the adoption of ASC 606, the Company reclassified costs and estimated earnings in excess of billings on uncompleted contracts to contract assets and billings in excess of costs and estimated earnings on uncompleted contracts to contract liabilities.