San Diego Business Journal

Cubic Describes Record Earnings, Sales

By Mike Allen Monday, May 7, 2012

Cubic Corp. reported record earnings and sales for the company’s second quarter ended March 31, the firm said May 3.

Net income for the quarter was $24.3 million, up 22 percent from net income in the like quarter of 2011.

Revenue was $341 million, up 2 percent from the revenue in the same quarter of last year.

For the first six months, Cubic said revenue was $660 million, up from $618 million in the first half of last year.

Net income for the half was $45.7 million, up 15 percent from the first half of last year.

Cubic has business segments in communications and combat training systems for defense; automated fare collection systems; and training and operational support for U.S. and allied military. The Kearny Mesa-based company reported a backlog of $3.1 billion at March 31, compared with a backlog of $2.84 billion at Sept. 30, 2011.

Traded on the New York Stock Exchange under CUB, shares closed May 4 at $45.32, down 73 cents from the prior day’s closing price. Its 52 week range is $36.71 to $54.95.