Cubic 4Q, FY 2015 Earnings Top Street Forecasts; Record Set for Yearly Sales

CubicLogoCubic Corp. — one of 30 companies listed on Executive Mosaic’s GovCon Index — has reported respective earnings of $1.05 and $1.16 per share respectively for the fourth quarter and full 2015 fiscal year ended Sept. 30.

Both quarterly and full-year figures for the San Diego-based defense and transportation electronics maker exceeded the consensus Wall Street forecast by 9 cents.

Cubic also reported fourth quarter revenue of $425.9 million, which exceeded analyst estimates by $14.7 million and the prior year figure by 7.4 percent.

The company also said sales hit a full-year record of $1.4 billion for 2015 versus the Wall Street estimate of $1.48 billion but showed a 2.9 percent increase from 2014 revenue figures.

Cubic’s fiscal 2016 guidance has an outlook of between $1.30 and $1.55 earnings per share and a revenue range of $1.45 billion to $1.5 billion.

Fiscal 2015 earnings figures do not include an increase in effective tax rate the company estimated to have a 31-cent impact on earnings in the fourth quarter, which brought adjusted earnings per share to 74 cents in the fourth quarter and 85 cents for the year.

Restructuring costs also impacted Cubic’s full-year earnings figures as the company realigned its operating structure in February from three segments into two with one in global defense and the other in transportation systems.

With those costs, the company recorded a 22-cent loss in its first quarter.

Shares in Cubic have declined 1.13 percent since the year’s start and are down 15.27 percent over 12 months.

Video of the Day

GovCon Wire Logo

Sign Up Now! GovCon Wire provides you with Daily Updates and News Briefings about Financial Report

Related Articles

The Ultimate Guide to Winning Government Contracts Let us show you how top executives are winning so you can replicate it