(in thousands) | December 31, 2013 | December 31, 2012 | |||||
Costs of in-process contracts | $ | 80,407 | $ | 85,842 | |||
Estimated earnings, net of estimated losses | 22,158 | 30,822 | |||||
Less: progress billings | (81,799 | ) | (79,023 | ) | |||
$ | 20,766 | $ | 37,641 | ||||
Unbilled contract revenues | $ | 26,915 | $ | 42,287 | |||
Billings in excess of costs and estimated earnings | (6,149 | ) | (4,646 | ) | |||
$ | 20,766 | $ | 37,641 |