Costs and Estimated Earnings on Uncompleted Contracts

12 Months Ended

Feb. 24, 2012

Costs and Estimated Earnings on Uncompleted Contracts [Abstract]

Costs and Estimated Earnings on Uncompleted Contracts

4.	Costs and Estimated Earnings on Uncompleted Contracts

The following is a summary of long-term contracts in progress at February 24, 2012 and February 25, 2011:

	February 24, 2012			February 25, 2011
Cost incurred on uncompleted long-term contracts	$	80,543		$	46,335
Estimated earnings		48,748			31,650
		129,291			77,985
Less: billings to date		(117,044	)		(75,148	)
	$	12,247		$	2,837

Included in accompanying balance sheets under the following captions:

	February 24, 2012			February 25, 2011
Costs and estimated earnings in excess of billings on uncompleted long-term contracts	$	18,766		$	10,371
Billings in excess of costs and estimated earnings on uncompleted long-term contracts		(6,519	)		(7,534	)
	$	12,247		$	2,837

Included in billings in excess of costs and estimated earnings on uncompleted long-term contracts is a provision for unexpected losses on contracts of $200 in fiscal 2012 and fiscal 2011.

In accordance with industry practices, costs and estimated earnings in excess of billings on uncompleted long-term contracts are classified as current even though a portion of these amounts may not be realized within one year.