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Cubic Reports Record Sales, Backlog in FY2011; Profit Grows 20%

Cubic Corp. (NYSE: CUB) has released financial results for its 2011 fiscal year ended Sept. 30, 2011.

The company reported record high sales totaling approximately $1.3 billion, an increase of 8 percent over sales of nearly $1.2 billion in 2010.

Profit rose 20 percent to $84.8 million, or $3.17 per share, from $70.6 million, or $2.64 per share last year.

Total backlog also reached a record high of approximately $2.8 billion, compared to nearly $2.5 billion in 2010.

The company’s defense systems segment reported its sales increased 8 percent, to $392.7 million in 2011 from $362.8 million in 2010.

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