Derivative Instruments (Tables)

6 Months Ended

Jun. 30, 2013

Derivative Instruments [Abstract]

Estimated fair value of the contracts in the consolidated balance sheets

The Company has not designated any of the foreign exchange contracts outstanding as hedges and has recorded the estimated fair value of the contracts in the consolidated balance sheets as follows:

		June 30,			December 31,
(in thousands)		2013			2012
Asset derivatives
Prepaid expenses and other current assets		$	231		$	296
Other assets			16			20
			247			316
Liability derivatives
Other current liabilities			(270	)		(190	)
Other liabilities			-			(149	)
			(270	)		(339	)
	Net fair value	$	(23	)	$	(23	)

Gain (loss) from derivative instruments

For the three and six months ended June 30, 2013 and 2012, the Company recognized a net gain (loss) on its derivative instruments as outlined below:

		Three Months ended		Six Months ended
		June 30,		June 30,
(in thousands)		2013	2012	2013	2012
Foreign exchange contracts- change in
	fair value	$         (548)	$           (93)	$              1	$             93
Remeasurement of related contract
	receivables, billings in excess of
	revenue earned, and subcontractor
	accruals	138	(291)	(144)	(77)
Gain (loss) on derivative instruments, net		$         (410)	$         (384)	$         (143)	$             16