COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

9 Months Ended

Sep. 30, 2012

COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

8. COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

Costs and estimated earnings on uncompleted contracts consist of the following:

	As of September 30, 2012			As of December 31, 2011
	(in thousands)
Cost incurred on uncompleted contracts	$	48,749		$	37,790
Estimated earnings		17,919			14,268
Billings to date		(47,728	)		(34,706	)
	$	18,940		$	17,352

These amounts are included on the accompanying Consolidated Balance Sheets under the following captions:

	As of September 30, 2012			As of December 31, 2011
	(in thousands)
Costs and estimated earnings in excess of billings on uncompleted contracts	$	19,896		$	17,655
Other current liabilities (Billings in excess of costs and estimated earnings on uncompleted contracts)		(956	)		(303	)
	$	18,940		$	17,352

At September 30, 2012, five significant customers comprised 78.8% of the costs and estimated earnings in excess of billings on uncompleted contracts, net of billings in excess of costs and estimated earnings, while at December 31, 2011, five significant customers comprised 91.4% of the costs and estimated earnings in excess of billings on uncompleted contracts, net of billings in excess of costs and estimated earnings.