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Costs and Estimated Earnings in Excess of Billings
12 Months Ended
Apr. 30, 2020
Contractors [Abstract]  
Long-term Contracts or Programs Disclosure [Text Block]

4.    Costs and Estimated Earnings in Excess of Billings, Net


At April 30, 2020 and 2019, costs and estimated earnings in excess of billings, net, consisted of the following (in thousands):


   

2020

   

2019

 

Costs and estimated earnings in excess of billings

  $ 10,460     $ 8,278  

Billings in excess of costs and estimated earnings

    (3,507

)

    (1,608

)

Net asset

  $ 6,953     $ 6,670  

Such amounts represent revenue recognized on long-term contracts that have not been billed at the balance sheet dates or represent a liability for amounts billed in excess of the revenue recognized.  Amounts are billed to customers pursuant to contract terms.  In general, the recorded amounts will be billed and collected or revenue recognized within twelve months of the balance sheet date.  Revenue on these long-term contracts is accounted for on the POC basis.  During the years ended April 30, 2020 and 2019, revenue recognized under POC contracts was approximately $38.0 million and $45.3 million, respectively.  If contract losses


are anticipated, costs and estimated earnings in excess of billings are reduced for the full amount of such losses when they are determinable.  Total contract losses for the fiscal years ended April 30, 2020 and 2019 were approximately $2.4 million and $136,000, respectively.