Cubic Corporation

Cubic Corporation is an American public corporation providing diversified systems and services to the transportation and defense markets worldwide. Cubic Corporation is the parent company of three major divisions: Cubic Transportation Systems, Cubic Mission Solutions and Cubic Global Defense.

Cubic Corporation
Public
Traded asNYSE: CUB
S&P 600 Component
IndustryPublic transport and defense
Founded1951 (1951)
FounderWalter J. Zable
HeadquartersSan Diego, California, U.S.
Key people
Chairman, President & Chief Executive Officer Bradley H. Feldmann; EVP & CFO Anshooman Aga; SVP & President of Cubic Transportation Systems Matt Cole; SVP & President of Cubic Global Defense Michael Knowles; SVP & President of Cubic Mission Solutions Mike Twyman
Number of employees
6,200 (2020) [1]
DivisionsCubic Global Defense, Cubic Mission Solutions, Cubic Transportation Systems
WebsiteCubic.com

Company details

Cubic employs 7,900 people with office locations across the globe. Cubic's fiscal year 2014 sales totaled $1.398 billion.[2] Bradley H. Feldmann was named president and chief executive officer of Cubic Corporation in July 2014.[3]

Company divisions

Cubic's operating segments include:[4]

  • Global Defense is a provider of realistic combat training systems, secure communications, operations, maintenance, technical and other support services for the U.S. and allied nations.[5]
  • Cubic Transportation Systems designs, integrates, and provides outsourced business process and information technology services for automated fare collection systems for public transit operations.[6] Additionally, this segment provides the fare payment infrastructure, including gates, ticket machines and smart card readers, and the back-end or central system for processing and reporting revenue and other data. Services include customer support, software support, and operations services.
  • Cubic Mission Solutions provides networked command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) capabilities for defense, intelligence, security and commercial missions.[7][8]
  • Cubic Defence New Zealand Ltd (previously, OSCMAR International Limited) is a manufacturer of training and simulations systems for military forces around the world. It is based in Auckland, New Zealand and owned by Cubic Corporation.

Other units

DTECH Labs (Acquired 2014)

DTECH Labs provides deployable and tactical communications products and solutions for military, government, first-responders and civilian customers.[9]

Teralogics, LLC. (Acquired 2015)

TeraLogics is a provider of real-time Full Motion Video Processing Exploitation and Dissemination for the Department of Defense, the intelligence community and commercial customers based in Ashburn, Virginia.[10]

GATR Technologies (Acquired 2016)

GATR Technologies manufactures portable, inflatable SATCOM and C4ISR terminals for tactical communications in harsh and forward or remote deployed environments.[11]

Vocality (Acquired 2016)

Vocality provides embedded technology that unifies communication platforms enabling its business, government and military customers to communicate securely using legacy systems with the latest wireless and cellular networks.[12]

Accounting restatement

On August 1, 2012, after discussion with the audit committee, Cubic's management agreed to restate its financial statements for the year ended October 31, 2011, 2010, and 2009.[13] Consequently, Cubic was forced to restate all of its previous Quarterly financial statements. What prompted the restatement was an issue with the revenue recognition policy adopted by management. The restatement produced an increase in equity of $26.9 million.[14]

Partnerships

Cubic Transportation Systems is the operator of Ventra, the electronic fare payment system for the Chicago Transit Authority (CTA).

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References
  1. "Cubic Corporation - About". Cubic Corporation.
  2. NYSE
  3. "Bradley H. Feldmann: Executive Profile & Biography". Bloomberg.
  4. no title given Marketwatch online
  5. Yahoo.com page
  6. Cubic Transportation Systems
  7. "Cubic Mission Solutions".
  8. "Cubic Mission Solutions Expands". Archived from the original on 2017-03-28. Retrieved 2017-03-27.
  9. "Cubic Acquires DTECH Labs".
  10. "Cubic acquires Teralogics".
  11. "Cubic Acquires GATR Technologies".
  12. "Cubic Acquires Vocality".
  13. restate
  14. "Cubic Corporation Reports Financial Results for Fiscal Year Ended September 30, 2012 / Completes Restatement for Fiscal Years 2009, 2010, and 2011 and Interim Periods", Marketwire, "FinanzNachrichten", December 14, 2012
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