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Cubic Corporation Message Board

  • the_mad_pom the_mad_pom Apr 28, 1999 1:57 AM Flag

    Earnings release date.

    I recall someone (not sure if it was a widgie or
    a woman) telling me that Cubic's second quarter
    results would be made public sometime during the second
    week of May. I'm sure a 'phone call to San Diego would
    confirm... go on and spend a dime for us...

    please let us know your guess for the Q2

    I am the only one in the pool so far at 0.38...
    it's my understanding that the closest Yahoo guess
    will win a secondhand Klix machine...

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • ...45c for Q2, 1.50 for 99, and 1.90 for 00.
      Longer term, they see 3 bucks in 02-04, with a price
      between 50 and 35. But goodness help you, Lucien Virgile
      is the analyst here, and he/she (not sure) has
      become one of those names in VL that I've learned to

      You know, I can see the orders as well as
      anyone, but at least according to the VL array of data
      going back to 1983 this company hasn't been too
      impressive. After all, eps in 83 was 1.46, in 99 estimated at
      1.50. The stock price has basically missed the entire
      bull market since 1987 (and maybe before that - don't
      have the detail).

      Return on equity sucks.
      Return on assets suck. There's no real dividend growth
      to speak of. Operating and net margins have been
      pitiful. Apparently the same management team is in place
      (you tell me).

      Bottom line: why should I
      believe that the company will translate these orders into
      any real profitability? History seems to suggest a
      healthy lack of disrespect here.

      So tell me, why
      should I change my mind? I'm an institutional investor
      of sorts (a flea-spot one), and the orders DO have
      me intrigued, but....

      ...and forgive me
      for my UNsofistiCAtion --> what is klix?

      • 2 Replies to tis1994
      • I wonder if you're looking at the same Value Line
        report I am.

        Estimates, Q1 through Q4: .30, .35,
        .40, .45 = 1.50

        The Q4 estimate is .45, not Q2.

        Just wondering why you distrust the assessment of Mr.
        Virgile? He seems to give more thought than most to his

      • Let me address as many of your points as I am

        If 0.45 is the Q2 number, the '99 total will be much
        higher than 1.50 - this should be obvious, since the new
        contracts will begin accruing during '99; most of these
        contracts run several years; whilst I will grant that the
        record of cost over-runs is abysmal, any variance on the
        projections for the recent orders are unlikely to be
        recognized until at least next year - so how could they
        report 0.30, 0.45 and then only 0.75 for the remaining 6
        months without some kind of extraordinary charge? I
        think 0.45 is high, but I'll be chuffed if they hit it
        - suffice to say I am in agreement with your
        assessment of the worth of Mr/Ms Virgile's

        As far as the management is concerned, you should be
        aware that the main mission of the London office (at
        least since Cubic bought out Westinghouse) has been to
        appease the London Transport Authorities enough to ensure
        that Cubic was awarded the entire transport systems
        contract once the system was put on the privatization
        block by the British Government. Doing business in the
        world of secret handshakes and the old school tie can
        be a tricky business, something Americans often do
        not appreciate. The London office was crawling with
        Americans until the PRESTIGE contract was secured last
        year. Now there is an Englishman back in charge, thank

        I believe Cubic expects Automated Revenue
        Collection will offer the greatest potential for sustained
        growth over the coming decade, although if NATO keeps
        blowing things up, who knows?

        As far as Klix is
        concerned, I posted a link back in message #35 or

        Do be a sport then, and give us your guess for the
        Q2 EPS.

40.84+0.08(+0.20%)Jul 29 4:02 PMEDT