Note 2 - Costs and Estimated Earnings in Excess of Billings on Uncompleted Contracts and Billings in Excess of Costs and Estimated Earnings

12 Months Ended

Dec. 31, 2015

Costs and Estimated Earnings in Excess of Billings on Uncompleted Contracts and Billings in Excess of Costs and Estimated Earnings [Text Block]

2.	COSTS AND ESTIMATED EARNINGS IN EXCESS OF BILLINGS ON UNCOMPLETED CONTRACTS AND BILLINGS IN EXCESS OF COSTS AND ESTIMATED EARNINGS:

Costs and estimated earnings in excess of billings on uncompleted contracts represents revenue earned under the percentage-of-completion method but not yet billable based on the terms of the contracts. These amounts are billed based on the terms of the contracts, which include achievement of milestones, partial shipments or completion of the contracts. Billings in excess of costs and estimated earnings on uncompleted contracts represents amounts billed based on the terms of the contracts in advance of costs incurred and revenue earned.

	December 31,
	2015			2014
	(in thousands)
Costs incurred on uncompleted contracts	$	210,716		$	265,552
Estimated earnings		31,921			53,744
		242,637			319,296
Less billings to date		(200,565	)		(276,284	)
	$	42,072		$	43,012
Amounts are presented in the Consolidated Balance Sheets as follows:
Costs and estimated earnings in excess of billings on uncompleted contracts	$	42,592		$	45,847
Billings in excess of costs and estimated earnings on uncompleted contracts		(520	)		(2,835	)
	$	42,072		$	43,012