About Cubic Corporation
Cubic Corporation is the parent company of three major business segments: Defense Systems, Mission Support Services and Transportation. Cubic Defense Applications is a leading supplier of combat training systems, communications, cyber technologies, and global tracking solutions. Cubic Mission Support Services is a leading provider of training, operations, maintenance, and technical 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.
SAN DIEGO, California – June 5, 2012 –Aviation Week & Space Technology, the leading aerospace and defense weekly, has listed Cubic Corporation (NYSE: CUB) among the top performing aerospace and defense companies reporting revenues between $1 billion and $5 billion over the past five years.
Last year, Aviation Week honored Cubic as the No. 1 top performing company in the $1 billion to $5 billion revenue category during a ceremony at the Paris Air Show. This year, the magazine ranked Cubic as No. 2 and the company was only 01 point shy of the No. 1 ranking. Over the five-year period, Cubic rated No. 3.
Aviation Week & Space Technology and independent aerospace and defense analysts used metrics embedded in four performance categories, including Return on Invested Capital (ROIC), Earnings Momentum, Asset Management and Financial Health, to determine the companies that consistently placed high in their rankings category.
Jim Schwendinger, a Top Performing Companies (TPC) adviser for Aviation Week, stated in the magazine’s May 28, 2012 issue, “At the end of the day, the real test ought to be how consistent somebody is. If I were a shareholder or a board member and wanted to hold my CEO and executive team accountable, I would look at where they have taken the company and whether they were able to sustain excellence over time in the face of improving competition.”
Commented Michael K. Lowry, Project Manager, Top Performing Companies, for Aviation Week & Space Technology: “Unlike the stock market, past performance at Cubic does seem to indicate future results. Operations remain simply outstanding – not just for the numbers that it posts, but also for its execution when compared against the industry’s best-run companies.”
According to the magazine, Cubic has placed among top three among companies reporting revenues of $1 billion to $5 billion three times since 2009. Cubic reported revenues of over $1 billion for the first time in fiscal year 2009 and continued that trend in fiscal year 2010. The company’s revenues topped $1.285 billion in fiscal year 2011 as Cubic reported a good revenue stream from all of its businesses and exceptionally strong growth for its transportation systems and services segment. Cubic Transportation Systems is the world’s leading provider of automated fare collection systems and services for public transit. It has been awarded significant contracts over the past several years in Sydney, Vancouver and Chicago and has been a major supplier of regional transportation technology and services in the United Kingdom.
Cubic was founded in 1951 by Walter J. Zable, the company's chairman, president and CEO. In its early years, the company focused primarily on aerospace and defense products for the U.S. market. Today it is a diverse global enterprise focused on increasing its commercial transportation and logistics tracking businesses while maintaining and growing its market presence in defense and mission support.
"Cubic had its best year ever in 2011 and our good performance is bringing us new opportunities,” said Walter J. Zable. "We have a strong backlog, a strong pipeline of solutions, and a vision for the future. It’s a great honor that Aviation Week & Space Technology has acknowledged us once again as one of the top companies in America."