Deferred Revenue

9 Months Ended

Sep. 30, 2015

Deferred Revenue [Abstract]

Deferred Revenue

8. DEFERRED REVENUE

Deferred revenue of $8,833 and $8,034 as of September 30, 2015 and December 31, 2014, respectively, consists of customer payments received for which the revenue recognition criteria have not yet been met as well as billings in excess of costs on percentage of completion projects. Advanced payments from customers typically relate to contracts with respect to which the Company has significantly fulfilled its obligations, but due to the Company’s continuing involvement with the material, revenue is precluded from being recognized until title, ownership, and risk of loss have passed to the customer.