INTERNATIONAL LOTTERY & TOTALIZATOR SYSTEMS INC | 2013 | FY | 3

6. CONTRACTS IN PROCESS

The amounts by which total costs exceeded or were less than billings on uncompleted contracts are as follows (in thousands):
   April 30,  April 30, 
   
2013
   
2012
 
Costs incurred and estimated earnings recognized on
uncompleted contracts
 
$
4,295
   
$
6,340
 
Billings on uncompleted contracts
   
(4,295
)
   
(5,614
)
   
$
-
   
$
726
 

The amounts shown in the table above are included in the associated balance sheet as follows (in thousands):
   April 30,  April 30, 
   
2013
   
2012
 
Costs and estimated earnings in excess of billings on uncompleted contracts
 
$
-
   
$
726
 
Billings in excess of costs and estimated earnings on uncompleted contracts
   
-
     
-
 
   
$
-
   
$
726
 
 

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