Girish Mahajan (Editor)

Cubic Corporation

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Type
  
Public

Number of employees
  
7,900 (July 2015)

Founder
  
Walter J. Zable

Founded
  
1951 (1951)

Website
  
www.cubic.com

Cubic Corporation httpswwwcubiccomPortals0SkinscubicDefense

Traded as
  
NYSE: CUB S&P 600 Component

Industry
  
Public transport and defense

Stock price
  
CUB (NYSE) US$ 52.50 -0.90 (-1.69%)3 Mar, 4:02 PM GMT-5 - Disclaimer

Headquarters
  
San Diego, California, United States

Subsidiaries
  
Cubic Transportation Systems, CUBIC (U.K.) Ltd

CEO
  
Bradley H. Feldmann (1 Jul 2014–), William W. Boyle (Jun 2012–)

Cubic Corporation is an American public corporation providing diversified systems and services to the transportation and defense markets worldwide. Founded and headquartered in 9333 Balboa Avenue, San Diego, CA, 92123. Cubic Corporation is the parent company of two major businesses, Cubic Transportation Systems and Cubic Global Defense.

Contents

Cubic employs 7,900 people with offices locations across the globe. Cubic's fiscal year 2014 sales totaled $1.398 billion. Bradley H. Feldmann was named president and chief executive officer of Cubic Corporation in July 2014.

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Company Divisions

Cubic's operating segments include:

  • Cubic Global Defense is a leading provider of realistic combat training systems, secure communications, operations, maintenance, technical and other support services for the U.S. and allied nations.
  • Cubic Transportation Systems designs, integrates, and provides outsourced business process and information technology services for automated fare collection systems for public transit operations. Additionally, this segment provides the fare payment infrastructure, including gates, ticket machines and smart card readers, and the back-end or central system for processing and reporting revenue and other data. Cubic’s wide range of services includes customer support, software support, and operations services.

    • Cubic Transportation Systems is the operator of Ventra, the electronic fare payment system for the Chicago Transit Authority (CTA).

    Accounting Restatement

    On August 1, 2012, after discussion with the Audit committee, Cubic's management agreed to restate its financial statements for the year ended October 31, 2011, 2010, and 2009. Consequently, Cubic was forced to restate all of its previous Quarterly financial statements.

    What prompted the restatement was an issue with the revenue recognition policy adopted by management. The restatement produced an increase in equity of $26.9 million.

    References

    Cubic Corporation Wikipedia
    (Text) CC BY-SA