Contract Receivables

3 Months Ended

Mar. 31, 2012

4.	Contract Receivables

Contract receivables represent balances due from a broad base of both domestic and international customers. All contract receivables are considered to be collectible within twelve months. Recoverable costs and accrued profit not billed represent costs incurred and associated profit accrued on contracts that will become billable upon future milestones or completion of contracts. The components of contract receivables are as follows:

(in thousands)	March 31,			December 31,
	2012			2011

Billed receivables	$	12,918		$	8,258
Recoverable costs and accrued profit not billed		10,216			12,234
Allowance for doubtful accounts		(136	)		(136	)
Total contract receivables, net	$	22,998		$	20,356

Recoverable costs and accrued profit not billed totaled $10.2 million and $12.2 million as of March 31, 2012 and December 31, 2011, respectively. During April 2012, the Company invoiced $1.3 million of the unbilled amounts; the balance of the March 31, 2012 unbilled amounts is expected to be invoiced and collected within one year.

The following customers account for more than 10% of the Company’s consolidated contract receivables for the indicated periods:

	March 31,	December 31,
	2012	2011
Slovenské elektrárne, a.s.	25.7%	24.2%
British Energy Generation Ltd.	10.6%	8.5%