Cubic Corp. (NYSE: CUB) has announced financial results for its fourth quarter and full 2014 fiscal year ended Sept. 30, 2014.
The San Diego-based defense and transportation technology contractor reported a 3-percent increase in revenue to $1.398 billion for the full year and a 16-percent jump to a record figure of $396.4 million for the quarter.
Cubic also reported a record profit for the fourth quarter at $32.8 million and a full year profit figure at $69.5 million.
Transportation segment sales in the U.K. and Australia and training system sales from the company’s defense systems segment drove the revenue increase, Cubic said.
Backlog for the year increased 20.1 percent to a new record-high of $3.18 billion, a figure Cubic attributed primarily to a potential seven-year, $704.2 million contract for the company to operate and maintain a fare collection system for London.
Cubic has set its sales guidance for its 2015 fiscal year at between $1.425 billion and $1.465 billion.