Cubic to Produce Electronics for War GamesMonday, August 29, 2011
Cubic Corp. said Aug. 29 that it received a $13 million task order to begin full production of its Tactical Vehicle System, to be used in U.S. Army war games. Cubic said that it received the task order at the end of July and that it will deliver equipment in 2012.
Altogether, Cubic said it has been awarded almost $18 million under the indefinite delivery/indefinite quantity contract, and that the deal could eventually surpass $100 million over four option years.
Cubic said the system includes laser sensors mounted at strategic spots on vehicles, as well as other electronics. The electronics tell vehicle crews when laser-simulated weapons score “hits” during training.
The Program Executive Office for Simulation, Training and Instrumentation was the U.S. Army office that issued the contract.
Cubic trades on the New York Stock Exchange under the symbol CUB. Shares closed at $42.26 on Aug. 29. The stock’s 52-week range as of Aug. 29 was $36.75 to $58.33.
— Brad Graves