Accounts Receivable

3 Months Ended

Sep. 30, 2012

Receivables [Abstract]

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

4. Accounts Receivable:

Accounts receivable, net as of June 30, 2012 and September 30, 2012 consisted of the following (in thousands):

	June 30,			September 30,
	2012			2012
Billed and billable, net of allowance of $532 and $626 as of June 30, 2012 and September 30, 2012, respectively	$	290,620		$	231,734
Unbilled:
Retainages		3,391			3,338
Revenue recorded in excess of milestone billings on fixed-price contracts		14,518			18,022
Revenue recorded in excess of contractual authorization, billable upon receipt of contractual documents		6,174			2,404
Allowance for unbillable amounts		(5,269	)		(4,923	)
Total unbilled		18,814			18,841
Accounts receivable, net	$	309,434		$	250,575

The billable receivables included in the billed and billable line item above represent primarily revenue earned in the final month of the reporting period. Consistent with industry practice, certain receivables related to long-term contracts are classified as current, although $2.2 million of retainages are not expected to be billed and collected within one year. The Company’s accounts receivable are primarily from federal government agencies or customers engaged in work for the federal government. The Company believes there is no material credit risk associated with these receivables.

Billings in excess of revenue totaled $8.6 million and $8.2 million at June 30, 2012 and September 30, 2012, respectively. Billings in excess of the revenue recognized are classified as a current liability in the condensed consolidated balance sheet.