Quarterly report pursuant to sections 13 or 15(d)

Accounting Policies (Tables)

v2.4.0.6
Accounting Policies (Tables)
3 Months Ended
Dec. 30, 2012
Accounting Policies [Abstract]  
Schedule of Inventory, Current [Table Text Block]

Payments received for such undelivered inventory are classified as unliquidated progress payments and deducted from the gross inventory balance. As of December 30, 2012 and September 30, 2012, inventory included:

 

 

    (Thousands)  
    As of
December 30, 2012
    As of
September 30, 2012
 
             
Raw Materials   $ 6,004     $ 5,749  
Work in Process     2,735       1,890  
Finished Goods     116       599  
Gross Inventory   $ 8,855     $ 8,238  
Less:                
Unliquidated Progress Payments     -       (62 )
Inventory Reserves     (1,082 )     (1,082 )
Net Inventory   $ 7,773     $ 7,094  
Revenue Recognition, Milestone Method [Table Text Block]

The following table depicts the current contract milestone schedule as of December 30, 2012.

 

 

 

 

 

 

Thousands

 

Milestone Event

 

Estimated

Completion /
Invoice Date

 

 

Revenue

 

 

Customer Deposits / Liability

 

 

 

 

 

 

 

 

 

 

 

Start of Work Meeting
System Functional Review
Production Start of Work

 

 

Complete

 

 

$

34.4

 

 

$

552.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delivery of Two Prototypes

 

 

Complete

 

 

 

63.7

 

 

 

61.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Preliminary Design Review
PRM #1 (Meeting) Production
Readiness Review

 

 

Complete

 

 

 

25.0

 

 

 

1,032.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Critical Design Review
PRM #2 (Meeting)

 

 

Complete

 

 

 

25.0

 

 

 

150.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Placement of Long Lead Material (LLM)

 

 

Complete

 

 

 

25.0

 

 

 

100.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delivery of Two Engineering Development Units

 

 

Complete

 

 

 

55.0

 

 

 

100.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delivery of One Production Ready Unit

 

 

Complete

 

 

 

68.2

 

 

 

125.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

PRM #3 (Meeting)

 

 

Complete

 

 

 

84.2

 

 

 

570.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FAT and PCA Complete

 

 

Complete

 

 

 

275.2

 

 

 

449.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Delivery of Two Final Production Ready Units

 

 

Complete

 

 

 

9.7

 

 

 

125.6

 

Total Contract Milestones

 

 

 

 

 

$

665.4

 

 

$

3,268.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less: Liquidated Deposits (shipments)

 

 

 

 

 

 

 

 

 

 

(25.1

)

Less: Unpaid Milestones Invoices

 

 

 

 

 

 

 

 

 

 

(125.6

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Customer Deposits

 

 

 

 

 

 

 

 

 

$

3,117.4