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.

Company details

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

Company divisions

Cubic's operating segments include:

DTECH Labs (Acquired 2014)

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

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.

GATR Technologies (Acquired 2016)

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

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.

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. 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.

Partnerships

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