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Wired News – Cubic Receives Contract to Deliver Traveler and Merchant App for Los Angeles Metro TAP Gare Payment System

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LONDON, UK / ACCESSWIRE / January 05, 2018 / Active-Investors.com has just released a free research report on Cubic Corp. (NYSE: CUB). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=CUB as the Company's latest news hit the wire. On January 03, 2017, the Company, a leading integrated solutions provider in the field of transportation, defense C4ISR and customer training, announced that its Cubic Transportation Systems business division received a contract with the Los Angeles County Metropolitan Transportation Authority (Metro), to deliver an integrated mobile app which would enabled TAP regional contact-less fare system. The TAP links 24 transit agencies across the Los Angeles region in USA, where the mobile app would provide travelers with multiple features to enhance their daily travel. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Cubic most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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The Announcement

According to the Company, the app will be supported by its API portal provided on Cubic's Software-as-a-Service (SaaS) cloud platform enabled via the Company's collaboration with Microsoft (NASDAQ:MSFT) for its Azure cloud environment. Moreover, the Company's open APIs will enable third-party devices to securely interact with TAP cards for authentication, top-up or debiting card and account balances, which could be further used by commuters for ride or bike sharing, parking and fare subsidy programs.

The traveler app from Cubic will help smartphone users in multiple ways, including the feasibility of ordering a virtual TAP card for the ability to tap and pay with a smartphone, or receive account balance and related service alerts via push notifications and in-app alerts, along with real-time tracking of rides. The app would also help with integration of fare subsidy programs and enable the unbanked to load cash at participating retailers and TAP vending machines.

TAP is currently the largest regional smart fare payment system in the US with over 2 million active TAP card holders, spending over $320 million annually and accessing over 450 million riders annually across the network. The Company has also agreed to deliver a merchant app for retailers who sell and load fare products on TAP cards. The app will deliver access to the TAP product catalog and enables retailers to select from the list of available pass types and stored value amounts. Post successful payments, retailers use NFC reader/writer interface native to an Android tablet, phone or accessible point of sale terminal.

Company Growth Prospects

On November 29, 2017, Cubic announced that its Cubic Global Defense (CGD) business division was offered a contract of more than $61 million from the US Army Contracting Command to deliver rotational and pre-deployment training exercises at the US Army's Joint Readiness Training Center.

Under the terms of the announcement, training exercises would be provided for the combined one-year phase-in and base period with four additional option years. The Company agreed to perform work in Fort Polk, Louisiana, with an estimated completion date of November 24, 2022. According to the announcement, Cubic has been assisting the Army with training for combat teams and soldiers since 2001, where the exercises being conducted were meant for units targeted at deployment in support of ongoing military operations overseas.

Stock Performance Snapshot

January 04, 2018 - At Thursday's closing bell, Cubic's stock marginally rose 0.68%, ending the trading session at $59.05.

Volume traded for the day: 60.60 thousand shares.

Stock performance in the last three-month – up 11.94%; previous six-month period – up 28.37%; past twelve-month period – up 17.51%; and year-to-date - up 0.17%

After yesterday's close, Cubic's market cap was at $1.61 billion.

The stock has a dividend yield of 0.46%.

The stock is part of the Technology sector, categorized under the Scientific & Technical Instruments industry. This sector was up 0.4% at the end of the session.

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