Cubic Corporation
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| Type | Private |
|---|---|
| Industry | Public transport and defense |
| Founded | 1951 |
| Founder | Walter J. Zable |
| Headquarters | San Diego, California, U.S. |
Key people | Bradley H. Feldmann (Chairman, President & Chief Executive Officer) Anshooman Aga (EVP & CFO) |
| Revenue | 890,000,000 United States dollar (2017)  |
Number of employees | 6,200 (2020) [1] |
| Divisions | Cubic Mission and Performance Solutions Cubic Transportation Systems |
| Website | Cubic.com |
Cubic Corporation is an American public transportation and defense corporation. It operates two business segments, Cubic Transportation Systems and Cubic Mission and Performance Solutions, respectively.[2]
Company details[]
Cubic employs 6,200 people globally. Cubic's fiscal year 2014 sales totaled $1.398 billion.[3] Bradley H. Feldmann was named president and chief executive officer of Cubic Corporation in July 2014.[4]
As of May 25, 2021, Cubic has announced the completion of sale to private equity firm Veritas Capital and Evergreen Coast Capital, turning a NYSE company into a private company.[5]
Company divisions[]
Cubic's operating segments include:
- Cubic Mission and Performance Solutions provides networked command, control, communications, computers, intelligence, surveillance and reconnaissance (C4ISR) capabilities for defense, intelligence, security and commercial missions, as well as realistic combat training systems, secure communications, operations, maintenance, technical and other support services for the U.S. and allied nations.[6][7][2]
- Cubic Transportation Systems designs, integrates, and provides outsourced business process and information technology services for automated fare collection systems for public transit operations. 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 Transportation Systems lost the contract for the COMPASS card system used by passengers using San Diego Metropolitan Transit System (SDMTS). Those cards no longer work on September 1, 2021, because they have been replaced by PRONTO cards implemented by INIT, Inc. [8]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]
PIXIA Corp. (Acquired 2020)[]
is an imagery management company. [13]
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.[14] 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.[15]
References[]
- ^ "Cubic Corporation - About". Cubic Corporation.
- ^ Jump up to: a b "Cubic Streamlines Business Segments to Drive Superior Customer Value and Enhance Operational Effectiveness". Cubic Corporation. Retrieved 5 October 2020.
- ^ NYSE
- ^ "Bradley H. Feldmann: Executive Profile & Biography". Bloomberg.
- ^ "Cubic Announces Completion of Acquisition by Veritas Capital and Evergreen Coast Capital".
- ^ "Cubic Mission Solutions".
- ^ "Cubic Mission Solutions Expands". Archived from the original on 2017-03-28. Retrieved 2017-03-27.
- ^ http://www.ridePRONTO.com. Missing or empty
|title=(help) - ^ "Cubic Acquires DTECH Labs". 16 December 2014.
- ^ "Cubic acquires Teralogics". 21 December 2015.
- ^ "Cubic Acquires GATR Technologies". 21 December 2015.
- ^ "Cubic Acquires Vocality". 2 December 2016.
- ^ "Cubic Completes Acquisition Of Imagery Management Company PIXIA". 6 January 2020.
- ^ "Cubic Corporation to Restate Financial Statements > Cubic Corporation". 2016-03-06. Archived from the original on 2016-03-06. Retrieved 2021-03-02.
- ^ "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
External links[]
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- Companies listed on the New York Stock Exchange
- Manufacturing companies based in San Diego
- Manufacturing companies established in 1951
- Defense companies of the United States
- American companies established in 1951
- Announced mergers and acquisitions