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Cubic Global Defense, a business unit of $CUB said it received a four-year contract to support the U.S. Army Europe (USAREUR) Joint Multinational Readiness Center (JMRC) situated in Hohenfels, Germany. The $3.6MM contract is an expansion of a five-year contract the Joint Multinational Simulation Center awarded to $CUB this year.
$CUB appointed Kirsten Nielsen as VP of investor relations. Nielsen will be responsible for the development and execution of Cubic's investor relations strategy to include strategic positioning, messaging and communications to the financial and investor community.
$CUB, a diversified technology company, swings back into profit primarily due to the changes in the effective tax rate and increased sales. Net income were $13.2MM, or $0.49 per share, versus net loss of $11.2MM, or $0.41 per share during the prior year period. Net sales rose 10% YoY to $445.6MM during the quarter. Adjusted EBITDA stood at $50.2MM.
$CUB's Cubic Global Defense business division received 4 additional delivery orders totaling $22MM, from an Indefinite Delivery/Indefinite Quantity (IDIQ) contract, to support the U.S. Navy's Littoral Combat Ship (LCS) with the creation and delivery of immersive game-based courseware.
Diversified technology company $CUB has appointed James Craig as VP and GM of ground training systems. Earlier, Craig served Lockheed Martin for 35 years, with the most recent role being Director of Business Transformation for the rotary and mission systems business. At Lockheed Martin, he also served as VP of Global Training and Logistics.
$CUB subsidiary Cubic Transportation Systems said Dirk Van de Meerssche, sales and marketing director of intelligent transport systems and tolling for its Asia Pacific arm, has joined the BoD of iMOVE CRC in Australia. Cubic is currently a partner to iMOVE, a transportation technology company, for development of intelligent transport systems.
Cubic Global Defense, a business division of $CUB, received a contract award worth more than $25MM from a customer in the Asia-Pacific region for the delivery of three mobile combat training centers. Cubic will provide its latest generation laser-based simulation equipment for dismounted soldiers, vehicles and numerous weapon configurations.
Public transport company $CUB said its revenue fell 6% to $343.7MM in 2Q17, partially hurt by forex rates. Net income fell to $0.5MM, or 2 cents per share, from $10.1MM, or 38 cents per share in the year-ago period. Adjusted EBITDA stood at $16.8MM during the quarter.
Cubic Global Defense, a unit of $CUB, received a contract award worth over $35MM to continue supporting the British Army. The three-year contract allows Cubic to deliver services and repair to the Area Weapons Effects Simulator at Salisbury Plain Training Area in the UK.
$CUB launched VaultedTM, a new software-as-a-service (SaaS) security compliance and team collaboration application, developed by its subsidiary TeraLogics. Vaulted simplifies the compliance and reporting process for new and existing applications by bringing security resources, requirements and teammates into a single workspace.
Cubic Transportation Systems, a unit of $CUB, has named Tony Gale as VP of NextBus, the firm's real-time passenger information system. With over two decades of experience in SaaS, Gale was previously GM of TripSpark Technologies’ School Transportation Division, a unit of Trapeze Software.
Cubic Transportation Systems, a business unit of $CUB, was awarded a $1.1MM, a five-year contract extension from the University of Maryland to upgrade its NextBus fleet management system. The installation of this new system is expected to begin in February 2017.
$CUB announced nomination of financial executive Maureen Breakiron-Evans to the company's BoD. Additionally, the company announced that Robert Sullivan, Dean of the Rady School of Management at UC San Diego, has decided not to seek re-election to the BoD and will end his term following the annual shareholders meeting in Feb. 2017.
Cubic Transportation Systems (CTS), a business unit of $CUB, appointed Dirk Van de Meerssche, sales and marketing director of intelligent transport systems and tolling for Asia Pacific at CTS, to the BoD for Intelligent Transport Systems (ITS) Australia.
$CUB announced the acquisition of Vocality International, a leading provider of embedded technology that unifies communications platforms, enhances voice quality, increases video performance and optimizes data throughput. The purchase price is $10MM subject to other customary adjustments per the terms of the stock purchase agreement.
$CUB closed purchase of Vocality International. This further expands Cubic Mission Solutions' portfolio in Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance for secure and expeditionary communications, and ISR Processing, Exploitation and Dissemination.