Costs and Estimated Earnings in Excess of Billings on Uncompleted Contracts

12 Months Ended

Dec. 31, 2012

Costs and Estimated Earnings in Excess of Billings on Uncompleted Contracts

10. COSTS AND ESTIMATED EARNINGS IN EXCESS OF BILLINGS ON UNCOMPLETED CONTRACTS

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

	As of			As of
	December 31, 2012			December 31, 2011
	(in thousands)
Costs incurred on uncompleted contracts	$	55,349		$	37,790
Estimated earnings		20,883			14,268
Billings to date		(53,708	)		(34,706	)
	$	22,524		$	17,352

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

	As of			As of
	December 31, 2012			December 31, 2011
	(in thousands)
Costs and estimated earnings in excess of billings on uncompleted contracts	$	23,644		$	17,655
Other current liabilities (Billings in excess of costs and estimated earnings on uncompleted contracts)		(1,120	)		(303	)
	$	22,524		$	17,352

At December 31, 2012, five significant customers comprised 86.5% 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.