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August 02, 2015 8:56 PM ET

Machinery

Company Overview of Cubic Transportation Systems, Inc.

Company Overview

Cubic Transportation Systems, Inc. operates as an integrator of payment and information solutions and related services for intelligent travel applications. It designs, develops, manufactures, supplies, installs, integrates, and services automated fare collection systems. The company offers integrated fare collection systems, which include fare payment and revenue control, card distribution/vending, data communication, and information management systems. It provides solutions in the areas of enterprise system, system integration, mobile, real-time passenger information, video ticketing, NextCity, intelligent transportation management, predictive analytic, and tolling aspects. The company offe...

5650 Kearny Mesa Road

San Diego, CA 92111

United States

Founded in 1972

Phone:

858-268-3100

Fax:

858-292-9987

Key Executives for Cubic Transportation Systems, Inc.

President and Executive Vice President of Cubic Corporation
Age: 64
President of Nextbus
Vice President, General Counsel and Secretary
Senior Vice President of Customer Service & Production - North America Operations
Senior Vice President of North America Operations and General Manager of North America Operations
Compensation as of Fiscal Year 2015.

Cubic Transportation Systems, Inc. Key Developments

Cubic Transportation Systems Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended March 31, 2015

Cubic Transportation Systems announced unaudited earnings results for the second quarter and six months ended March 31, 2015. For the six months, the company reported sales of $278.2 million against $276.1 million a year ago. Operating income was $39.1 million against $19.9 million a year ago. The increase in sales was partially offset by decreased work on system development contracts in the U.K. and U.S. In addition, changes in foreign currency exchange rates compared to last year reduced revenue by $14.8 million for the first half of 2015. The increase was attributable to an increase in gross margins on the contract in Chicago described above and a commercial settlement totaling $3.6 million. The increase in operating income was partially offset by cost growth on a system development contract in North America which reduced operating income by $7.6 million and the impact of changes in foreign currency exchange rates compared to last year which reduced operating income by $2.4 million. For the second quarter, the company reported sales of $146.7 million against $149 million a year ago. Operating income was $27 million against $16.8 million a year ago.

MasterCard Announces Global Partnership with Cubic Transportation Systems

MasterCard has announced a global partnership with Cubic Transportation Systems. The alliance is designed to help the millions of daily commuters around the world experience faster, more convenient and personalized ways to get around, tapping into the power of their mobile devices. By combining MasterCard's leadership in everyday payments and loyalty management with Cubic's 'NextCity' platform the partners aim to develop solutions that: Provide individual travelers with real-time guidance on their mobile devices on the smartest way to travel, offering fare incentives if the system becomes congested or overcrowded; and Enables transportation operators to offer flexible pricing based on system demand; Offers retailers at and around transportation hubs ways to alert travelers to personalized offers and rewards on the go. As part of the agreement, MasterPass, MasterCard's secure digital payment service, will be integrated with Cubic's NextWave ticketing and journey planning app. The partnership will help accelerate the conversion of the currently $200 billion cash payments into digital payments, saving operators cost for cash-handling and speeding up through-put. By introducing globally interoperable payment solutions for urban transportation systems, traveling between cities will become much easier, with no need to carry multiple tickets. MasterCard and Cubic are working together in cities such as Chicago and London.

Cubic Transportation Announces Earnings Results of 2014; Provides Earnings Guidance for 2015

Cubic Transportation (CTS) announced earnings results of 2014. For the year, the company's sales increased $70.2 million or 13% to a record of $599.7 million in fiscal 2014. Recent acquisitions contributed $53.8 million. Sales were also higher on contracts in Chicago, London and San Francisco. Sales were reduced by $18.4 million, due to a change in estimate on a contract in Vancouver. Operating income decreased 1% to $65.9 million for the year. Operating income was reduced by the $18.4 million Vancouver cost increase and startup losses on the Chicago contract. Offsetting these items were higher profits on contracts in the U.K. and Australia. The company expects profitability will increase in fiscal 2015.

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