v3.25.2
Contract Assets and Liabilities
6 Months Ended
Mar. 31, 2025
Revenue from Contract with Customer [Abstract]  
Contract Assets and Liabilities
Note 4 – Contract Assets
 and Liabilit
ies
Contract assets reflect costs and estimated earnings in excess of billings on uncompleted contracts as of March 31, 2025 and September 30, 2024,
a
n
d
consist of the following:
 
 
  
March 31, 2025
 
  
September 30, 2024
 
Costs incurred on uncompleted contracts
   $ 5,023,000      $ 14,508,000  
Estimated earnings
     1,776,000        6,977,000  
  
 
 
    
 
 
 
     6,799,000        21,485,000  
Billings to date
     2,419,000        12,146,000  
  
 
 
    
 
 
 
Contract assets
   $ 4,380,000      $ 9,339,000  
  
 
 
    
 
 
 
Contract liabilities reflect billings in excess of costs and estimated earnings on uncompleted contracts as of March 31, 2025, and consist of the following:
 
     March 31, 2025  
Costs incurred on uncompleted contracts
   $ 32,169,000  
Estimated earnings
     15,106,000  
  
 
 
 
     47,275,000  
Billings to date
     50,071,000  
  
 
 
 
Contract liabilities
   $ (2,796,000