September 30,

December 31,

(dollars in thousands)

2012

2011

Costs incurred on uncompleted contracts

$

52,358

$

57,345

Estimated earnings

16,408

17,512

68,766

74,857

Less billings to date

(70,210

)

(73,861

)

$

(1,444

)

$

996

Included in the accompanying consolidated balance sheets under the following captions:

Costs and estimated earnings in excess on uncompleted contacts

$

7,057

$

10,643

Billings in excess of costs and estimated earnings on uncompleted contracts

(8,501

)

(9,647

)

$

(1,444

)

$

996