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Note 3 - Cost and Estimated Earnings in Excess of Billings on Uncompleted Contracts and Billings in Excess of Costs and Estimated Earnings
 12 Months Ended
Dec. 31, 2016
Notes to Financial Statements  
Costs and Estimated Earnings in Excess of Billings on Uncompleted Contracts and Billings in Excess of Costs and Estimated Earnings [Text Block]
3
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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,
 
 
 
2016
 
 
2015
 
 
 
(in thousands)
 
Costs incurred on uncompleted contracts
   $
238,050
    $
210,716
 
Estimated earnings
    
7,247
     
31,921
 
     
245,297
     
242,637
 
Less billings to date
    
(203,672
 )    
(200,565
 )
    $
41,625
    $
42,072
 
Amounts are presented in the Consolidated Balance Sheets as follows:
                
Costs and estimated earnings in excess of billings on uncompleted contracts
   $
43,663
    $
42,592
 
Billings in excess of costs and estimated earnings on uncompleted contracts
    
(2,038
 )    
(520
 )
    $
41,625
    $
42,072