DWSN » Topics » Revenue Recognition

These excerpts taken from the DWSN 10-K filed Dec 9, 2008.
Revenue Recognition
 
Services are provided under cancelable service contracts. These contracts are either “turnkey” or “term” agreements. Under both types of agreements, the Company recognizes revenues when revenue is realizable and services have been performed. Services are defined as the commencement of data acquisition or processing operations. Revenues are considered realizable when earned according to the terms of the service contracts. Under turnkey agreements, revenue is recognized on a per unit of data acquired rate as services are performed. Under term agreements, revenue is recognized on a per unit of time worked rate as services are performed. In the case of a cancelled service contract, revenue is recognized and the customer is billed for services performed up to the date of cancellation.
 
The Company receives reimbursements for certain out-of-pocket expenses under the terms of the service contracts. Amounts billed to clients are recorded in revenue at the gross amount including out-of-pocket expenses that are reimbursed by the client.
 
In some instances, customers are billed in advance of services performed. In those cases, the Company recognizes the liability as deferred revenue.
 
Revenue
Recognition



 



Services are provided under cancelable service contracts. These
contracts are either “turnkey” or “term”
agreements. Under both types of agreements, the Company
recognizes revenues when revenue is realizable and services have
been performed. Services are defined as the commencement of data
acquisition or processing operations. Revenues are considered
realizable when earned according to the terms of the service
contracts. Under turnkey agreements, revenue is recognized on a
per unit of data acquired rate as services are performed. Under
term agreements, revenue is recognized on a per unit of time
worked rate as services are performed. In the case of a
cancelled service contract, revenue is recognized and the
customer is billed for services performed up to the date of
cancellation.


 



The Company receives reimbursements for certain out-of-pocket
expenses under the terms of the service contracts. Amounts
billed to clients are recorded in revenue at the gross amount
including out-of-pocket expenses that are reimbursed by the
client.


 



In some instances, customers are billed in advance of services
performed. In those cases, the Company recognizes the liability
as deferred revenue.


 




This excerpt taken from the DWSN 10-K filed Dec 7, 2007.
Revenue Recognition
 
Services are provided under cancelable service contracts. These contracts are either “turnkey” or “term” agreements. Under both types of agreements, the Company recognizes revenues when revenue is realizable and services have been performed. Services are defined as the commencement of data acquisition or processing operations. Revenues are considered realizable when earned according to the terms of the service contracts. Under turnkey agreements, revenue is recognized on a per unit of data acquired rate as services are performed. Under term agreements, revenue is recognized on a per unit of time worked rate as services are performed. In the case of a cancelled service contract, revenue is recognized and the customer is billed for services performed up to the date of cancellation.
 
The Company receives reimbursements for certain out-of-pocket expenses under the terms of the service contracts. Amounts billed to clients are recorded in revenue at the gross amount including out-of-pocket expenses that are reimbursed by the client.
 
In some instances, customers are billed in advance of services performed. In those cases, the Company recognizes the liability as deferred revenue.
 
This excerpt taken from the DWSN 10-K filed Dec 4, 2006.
Revenue Recognition
 
Contracts for service are provided for under cancelable contracts. These contracts are either “turnkey” or “term” agreements. The Company recognizes revenues when services are performed under both types of agreements. Services are defined as the commencement of data acquisition or processing operations. Under turnkey agreements, revenue is recognized on a per unit of data acquired rate, as services are performed. Under term agreements, revenue is recognized on a per unit of time worked rate, as services are performed. In the case of a cancelled contract, revenue is recognized and the customer is billed for services performed up to the date of cancellation.
 
The Company also receives reimbursements for certain out-of-pocket expenses under the terms of its master contracts. Amounts billed to clients are recorded in revenue at the gross amount including out-of-pocket expenses which are reimbursed by the client.
 
In some instances, customers are billed in advance of services performed, and the Company recognizes the liability as deferred revenue.
 
Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki