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Cubic: Fiscal 4Q Earnings Snapshot

·1 min read

SAN DIEGO (AP) _ Cubic Corp. (CUB) on Wednesday reported fiscal fourth-quarter earnings of $57 million.

The San Diego-based company said it had net income of $1.82 per share. Earnings, adjusted for one-time gains and costs, came to $2.82 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.03 per share.

The electronics company posted revenue of $475.4 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $482.3 million.

For the year, the company reported a loss of $3.2 million, or 10 cents per share, swinging to a loss in the period. Revenue was reported as $1.48 billion.

Cubic expects full-year earnings in the range of $3 to $3.60 per share, with revenue in the range of $1.55 billion to $1.6 billion.

Cubic shares have climbed slightly more than 2% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $65.03, a drop of 11% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CUB at https://www.zacks.com/ap/CUB