COSTS AND ESTIMATED EARNINGS IN EXCESS OF BILLINGS ON UNCOMPLETED CONTRACTS

12 Months Ended

Dec. 31, 2011

COSTS AND ESTIMATED EARNINGS IN EXCESS OF BILLINGS ON UNCOMPLETED CONTRACTS [Abstract]

COSTS AND ESTIMATED EARNINGS IN EXCESS OF BILLINGS ON UNCOMPLETED CONTRACTS

7. COSTS AND ESTIMATED EARNINGS IN EXCESS OF BILLINGS ON UNCOMPLETED CONTRACTS: At December 31, 2011 and 2010, costs and estimated earnings in excess of billings on uncompleted contracts consist of:

	2011		2010
Costs incurred on uncompleted contracts	$	-	$	1,040,000
Estimated earnings		-		167,000
				1,207,000
Less: billings to date		-		(739,000	)
Cost and estimated earnings in excess of billings on uncompleted contracts	$	-	$	468,000