Cubic Corp (CUB) 銘柄情報

CUBIC REPORTS RECORD 4th QUARTER

https://www.cubic.com/news-events/news/cubic-reports-record-fourth-quarter-and-record-fiscal-2019-sales-and-adjusted

Cubic providing Hurricane Dorian Aid to the Bahamas

https://www.cubic.com/news-events/blogs/reconnecting-after-hurricane-dorian

Cubic Leads Masterclass on Mobility as a Service at the Scottish Transport Show

https://finance.yahoo.com/news/cubic-leads-masterclass-mobility-scottish-110200386.html

Cubic to deliver CBRND Collective Training Simulation System for Australian Army

https://www.cubic.com/news-events/news/cubic-deliver-cbrnd-collective-training-simulation-system-australian-army

.14 Dividend this year. Ex-Dividend date August 29th.

https://www.dividend.com/dividend-stocks/technology/scientific-and-technical-instruments/cub-cubic-corp/

Earnings release:

https://www.cubic.com/news-events/news/cubic-reports-third-quarter-fiscal-year-2019-results-delivers-strong-growth-and

Third Quarter Fiscal Year 2019 Highlights

Sales of $382.7 million, up 29% year-over-year
Net income from continuing operations attributable to Cubic of $24.1 million, or $0.77 per share, including $32.6 million gain on sale of fixed assets; Adjusted EPS of $0.66, up 38% year-over-year
Adjusted EBITDA of $30.6 million, up 9% year-over-year
Net cash provided by operating activities of $1.1 million; Adjusted Free Cash Flow of $52.5 million
Sold real estate assets for net cash proceeds of $44.9 million
Acquired 20% stake in Pixia for $50 million to enhance Cubic Mission Solutions portfolio
Narrowed fiscal year 2019 guidance: Sales $1,440-$1,480 million; Adjusted EBITDA $145-155 million; Adjusted EPS $3.00-$3.35

This message board has been pretty sparse.

Lets liven it up a little bit.

Anyone? Anyone? Bueller?

wassup here.. i am alerted by multiple folks..anyone CAN share some DD

Value investors may want to take a look at Cubic $CUB after stock's drop yesterday: analysis

Barron’s likes CUB for its mass-transit participation: #msg-120518175.

impressive gains--and the company is plowing money back into the org.

I took profits on my entire CUB position today to use the cash for various purchases, mainly CLF. Good luck to all.

Through various trusts. Zable’s heirs now own a 34.7% stake in CUB, according to today’s 13D filing:

http://www.sec.gov/Archives/edgar/data/26076/000110465912049401/a12-16318_1sc13d.htm

I commented on the DealBook piece in #msg-77470091. Regards, Dew

A useful analytical piece in Thursday's NYT online:

http://dealbook.nytimes.com/2012/07/12/after-its-founders-death-speculation-about-cubic-corp/?partner=yahoofinance

Fortunately, an estate of this size takes a long time to be settled, so we have ample time to see how the story plays out before a large number of shares is placed on the market by Zable’s heirs and beneficiaries.

I think Zable’s death means CUB is more likely to be sold, which is probably why the shares were up 4% on a down day for the market (#msg-76957330). What do you think?

I'm inclined to think it was more knee-jerk speculation rather than informed buying.

CUB's January Proxy indicated Walter J. held something like 38% of outstanding shares in trusts and a charitable corporation under his sole control (I believe that was the exact wording). I assume that he was a control freak, and has dictated from the grave regarding future company ownership. Perhaps in his wisdom he opted for monetization of those assets; perhaps he couldn't abide unknown parties acquiring his life's work.

The lack of a CEO-succession plan lends credence to a buyout, IMO: #msg-76972872.

what are your thoughts about an exit strategy for the 39% of CUB's outstanding shares which are owned by its [then] 95 y.o. founder/Pres/CEO and "Chairman of the Executive Committee," Walter J. Zable, "indirectly through Trusts and a public benefit charitable corporation"? I think Zable’s death means CUB is more likely to be sold, which is probably why the shares were up 4% on a down day for the market (#msg-76957330). What do you think?

CUB +4% on death of CEO, which makes a buyout more likely, IMO:

#msg-76957330

CUB Reports FY2Q12 Results: #msg-75220554.

CUB introduces open-payment platform for transit fare collection:

http://finance.yahoo.com/news/cubic-introduces-account-based-open-110000424.html

…shareholders be AWARE...Walter J Zable is no longer in control of the corporation, it appears his Executive Assistant is, named Kathryn Starr and several other old cronies who hold Independent Directorships.Please substantiate your assertions. T.i.a.

CUBIC shareholders be AWARE...Walter J Zable is no longer in control of the corporation, it appears his Executive Assistant is, named Kathryn Starr and several other old cronies who hold Independent Directorships.
A shareholders meeting is being held on Feb 28, 2012 at CUBIC headquarters in San Diego, CA. Should you hold shares in this secretive company, I suggest you take a look.

Shareholders meeting being held on Feb 28, 2012.
Might be about time to air some dirty laundry. Everyone talking about a corporate melt-down due to age of majority stockholder.
Fasten the seat belts folks, it might be a bumpy ride.
Does anyone know who is in control? Mighty big company to let the wolves fleece.

SELL? Anybody have any information on Zable?

CUB Reports FY1Q12 Results

[For archival purposes—this PR was issued after the close on 2/2/12 and covers the fiscal quarter ending 12/31/11. The share price is up 3% since this PR was issued.

CUB does not issue sales or EPS guidance and does not hold quarterly CC’s.]

http://finance.yahoo.com/news/Cubic-Corp-NYSE-CUB-Reports-iw-3102340402.html?x=0

›Cubic Corp. Reports Higher Sales and Earnings and Record Backlog for the Quarter Ended December 31, 2011

SAN DIEGO, CA--(Marketwire -02/02/12)- Cubic Corporation (NYSE: CUB) today reported earnings and sales for the quarter ended December 31, 2011. Sales for the first fiscal quarter were $318.7 million compared to $284.4 million last year, an increase of 12 percent. Net income attributable to Cubic shareholders increased by 8 percent to $21.4 million (80 cents per share) this year compared to $19.9 million (74 cents per share) last year.

Operating income increased by 4 percent in the first fiscal quarter to $28.2 million, compared to $27.2 million last year. Cash flows used in operations were $38.4 million primarily due to increases in accounts receivable caused by increased sales.

Other income in the first quarter this year included a net foreign currency exchange gain of $1.9 million, before taxes. The effective tax rate increased to 29.1 percent for this fiscal quarter compared to 27.0 percent for the same quarter last year. The increase in the effective rate was primarily due to the retroactive reinstatement of the U.S. research and development credit in 2010, which reduced the income tax provision by $1.5 million for the quarter ended December 31, 2010. In contrast, the expiration of this credit during this fiscal year increased the effective rate for the quarter ended December 31, 2011.

Total backlog was a record high $3.184 billion at December 31, 2011 compared to $2.837 billion at September 30, 2011, the Company's previous high backlog. During the quarter ended December 31, 2011, Cubic Transportation Systems signed a contract with the Chicago Transit Authority (CTA) to design, build, operate and maintain CTA's next-generation open payment fare system which added $454 million to backlog as of December 31, 2011 [#msg-70419168].

The company continues to maintain a strong liquidity position, ending the period with $308.0 million in cash and short-term investments, and total debt of only $11.8 million.

Cubic Corporation is the parent company of three major business segments: defense systems, mission support services and transportation systems. Cubic Defense Systems is a leading provider of realistic combat training systems and defense electronics. Mission Support Services is a leading provider of training, operations, maintenance, technical and other support services for U.S. and allied military and security forces. Cubic Transportation Systems is the world's leading provider of automated fare collection systems and services for public transit authorities. For more information about Cubic, see the company's Web site at www.cubic.com.‹

CUB Reports Record FY2011 Results

[For archival purposes—PR issued 11/22/11. The PR states only the results for the full fiscal year, so the FY4Q11 numbers must be calculated by subtracting the 9-month results from those for the full FY. (See actual PR for financial tables.)

FY4Q11 EPS was $0.90, up from $0.49 in FY4Q10. However, FY4Q11 sales were flat YoY; the EPS increase came entirely from favorable currency and a lower tax rate. For the full FY2011, EPS was $3.17, up from $2.64 in FY2010, and sales were $1.29B, +8% YoY. The FY2011-ending backlog was $2.84B, +14% YoY.]

http://ih.advfn.com/p.php?pid=nmona&article=50138116

›Nov 22, 2011 6:00 AM EST

SAN DIEGO, CA--(Marketwire -11/22/11)- Cubic Corporation (NYSE: CUB) today reported record high sales and earnings for the fiscal year ended September 30, 2011. Sales in fiscal 2011 were $1.285 billion, representing an increase of 8 percent over sales of $1.194 billion in 2010. Net income attributable to Cubic shareholders increased 20 percent, to $84.8 million ($3.17 per share) in 2011 from $70.6 million ($2.64 per share) last year.

Operating income increased 6 percent, to $112.3 million this year from $105.5 million in 2010 and cash flows from operations were $132.6 million in 2011. The Company's financial condition continued to be very strong in 2011. Cash and short-term investments at September 30, 2011 were $355.0 million while total debt was only $15.9 million.

Total backlog reached a record high $2.837 billion at September 30, 2011 compared to $2.486 billion at September 30, 2010. Funded backlog was $2.163 billion at September 30, 2011 compared to $1.872 billion at the end of last year.

Details of Consolidated Results

The average exchange rates between the prevailing currencies in the Company's foreign operations and the U.S. dollar resulted in an increase in sales in 2011 of $21.5 million, an increase of $3.4 million in operating income, and an increase in net income attributable to Cubic shareholders of $2.4 million, or $0.09 per share.

Cubic's net income also increased in 2011 due to the impact of foreign currency exchange rate changes on U.S. dollar-denominated investments held by our wholly-owned subsidiary in the U.K. that has the British Pound as its functional currency. The impact of exchange rates on these U.S. dollar-denominated investments is recorded as non-operating income and resulted in a gain of $2.3 million after taxes, or $0.09 per share.

The Company's effective tax rate in 2011 decreased to 27.7 percent of pretax income compared to 33.3 percent of pretax income in 2010 primarily due to use of available U.S. research and development tax credits and an increase in the amount of income earned in foreign jurisdictions that is taxed at lower rates than the U.S. federal statutory tax rate.

Transportation Systems Segment

Cubic Transportation Systems (CTS) sales increased 8 percent to $415.4 million in 2011 from $386.0 million in 2010. Sales were higher in 2011 from work in Europe and Australia, but were lower in North America.

Operating income from CTS increased 2 percent in 2011 to $56.0 million from $54.7 million in 2010. Increased income in 2011 resulted from higher sales in the U.K. and Australia, and an increase in operating margin in Australia due to a reduction in bid and proposal costs. Lower operating income on lower sales in North America partially offset these increases.

Defense Systems Segment

Cubic Defense Systems (CDS) sales increased 8 percent to $392.7 million in 2011 from $362.8 million in 2010. Sales increased in the training systems business, while communications business revenue decreased.

Operating income from CDS increased 32 percent to $37.9 million in 2011 from $28.7 million in 2010. Higher sales and improved profit margins from training systems contributed to the increase. In 2010, CDS acquired two new businesses that are developing cross domain and global tracking products. During 2011 and 2010 CDA increased its investment in the development and marketing of these products which resulted in these businesses incurring operating losses totaling $11.3 million in 2011 and $3.0 million in 2010.

Mission Support Services Segment

Sales at Mission Support Services (MSS) increased 7 percent to $475.8 million in 2011 from $443.3 million in 2010. The acquisition of Abraxas added $50.0 million to 2011 revenue. Lower sales at the Joint Readiness Training Center in Fort Polk, Louisiana, and from the U.S. Army Quartermaster Center and School partially offset the increase in 2011 sales. The acquisition also added $106.8 million to the year end backlog.

Operating income from MSS was 9 percent lower in 2011 at $24.0 million compared to $26.5 million last year. This was primarily due to the amortization of intangibles of $8.2 million and costs of $0.7 million for the acquisition made this fiscal year. Higher operating margins on increased sales from information operation contracts partially offset the decrease.

Cubic Corporation is the parent company of three major business segments: Defense Systems, Mission Support Services and Transportation Systems. Cubic Defense Systems is a leading provider of realistic combat training systems and defense electronics. Mission Support Services is a leading provider of training, operations, maintenance, technical and other support services. Cubic Transportation Systems is the world's leading provider of automated fare collection systems and services for public transit authorities. For more information about Cubic, see the Company's Web site at www.cubic.com.‹

CUB wins $454M transit contract with Chicago (from 11/17/11):

http://ih.advfn.com/p.php?pid=nmona&article=50080775

The recent insider transactions by CEO, Walter Zable are not actually sales, but rather transfers of shares from Zable’s personal account to his various trust accounts.

Cubic Inks $120M Training Contract With Unspecified Middle East Country

http://finance.yahoo.com/news/Cubic-Wins-Middle-East-iw-1346129398.html?x=0

›Covers Systems for Basic and Advanced Individual Marksmanship, Collective Team, Section and Platoon Level Exercises, Direct and Indirect Firing, and Judgmental Training

12-Dec-2012 7:00am ET

SAN DIEGO, CA--(Marketwire -12/12/11)- Cubic Corporation (NYSE: CUB) announced today that it has signed a prime contract with a major Middle East customer to provide comprehensive marksmanship and small arms training capabilities.

Worth more than $120 million including various options, it is the largest single contract ever awarded to Cubic's Simulation System Division, based in Orlando, Florida.

Under the contract, Cubic will provide immersive training equipment for a variety of weapons at more than 20 sites. The capabilities include a wide range of tactical requirements including sniper, mortar and close air support.

"This contract underscores Cubic's commitment to our security partners in the Middle East region," said Bradley Feldmann, President Cubic Defense Applications, Inc. "Won in the face of intense international competition, it provides a solid multiyear foundation for our virtual training business and reinforces Cubic's role as the leading provider of immersive and marksmanship training equipment."‹

The 10-K for the FY ending 9/30/11 has been filed:

http://www.sec.gov/Archives/edgar/data/26076/000110465911065583/a11-27382_110k.htm

CUB inks deal with top bank-card issuers for contactless fare payment on mass-transit systems:

http://finance.yahoo.com/news/Cubic-Receives-Contactless-iw-1110189532.html?x=0

why specifically do you ascribe "buyout vig"…to CUB?The individuals in the inner circle are very old and might be inclined to sell: http://www.cubic.com/About-Us/Leadership . …a term I've never come across anywhere else… Vig is a common backgammon word, and I used to be a tournament backgammon player.

Clipper fare-collection system in San Francisco

Interesting, not least because some of their challenges arise not from their technology but from BART/Muni malfunctions that are completely independent of the technology, e.g., delays stemming from track fatalities (12! in less than 9 months) and electrical outages -- but if CUB can design functional battleground technology they can surely cope with these less-challenging conditions.

btw, why specifically do you ascribe "buyout vig" (a term I've never come across anywhere else) to CUB?

Somewhat critical article on CUB’s Clipper fare-collection system in San Francisco Bay Area:

http://www.nytimes.com/2011/09/09/us/09bcjames.html

Over time, these kinds of problems will presumably diminish as they have at CUB’s other large fare-collection systems, e.g. in London.

CUB’s FY2010 Sales by Segment and Geography: #msg-66355098.

I recommend yesterday’s Jefferies webcast (25 minutes including Q&A):

http://wsw.com/webcast/jeff57/register.aspx?conf=jeff57&page=cub&url=http%3A//wsw.com/webcast/jeff57/cub/

FY3Q11 press release with my annotations: #msg-65911392.

Good question insofar as CUB does not fit into a recognized pigeonhole. I could see conglomerates such as GE and HON having an interest in CUB for both the defense and transit businesses. Moreover, any of the leading defense companies might want to acquire CUB with the intention of divesting the transit segment. All told, CUB probably has more buyout vig than any industrial company I follow.

DD, since I seem to be in a mood to post questions today, what are your thoughts about an exit strategy for the 39% of CUB's outstanding shares which are owned by its 95 y.o. founder/Pres/CEO and "Chairman of the Executive Committee," Walter J. Zable, "indirectly through Trusts and a public benefit charitable corporation" (according to the 1/11 Proxy)? I realize Zable's kid is VP of CUB and Vice-Chair of the Ex. Comm. (and probably also a trustee of his dad's trusts...), but I can't imagine that the trusts would want to maintain such a high concentration of their assets in the co. going forward.

You've mentioned this issue in passing on the CUB board, remarking on the company's "buyout vig," but I also have to wonder what the exit scenario for the company itself might be? I assume via an acquisition, but any more-specific thoughts? I'm thinking particularly of whether/how CUB's Transportation Segment would fit into a defense industry play. It would be a shame for such a promising initiative to be lost...

thx for your thoughts.

High-Speed Rail Poised to Alter China:

#msg-64573693

Tangentially relevant to CUB’s transit business.

Yes—I still hold CUB; the premise for owning it remains unchanged, IMO. Regards, Dew

You still holding this...

Looks to be in a down trend...

Still think there's going to be a buy out?

TIA

GLTA

CUB reports FY2Q11 results: #msg-62923285.

Cubic Reports FY1Q11 Results and Record Backlog:

#msg-59585614

No options activity either...

That probably won’t happen because it’s such a low-profile company. They don’t even hold quarterly conference calls.

IF the options would get more liquid, I would watch it closer...

LOL<older then sin