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Cubic Posts Loss In Fourth Quarter, Sees Rebound In 2017

Cal Biesecker By
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Cubic Posts Loss In Fourth Quarter, Sees Rebound In 2017
Cubic President and CEO Bradley Feldmann. Photo: Cubic Corp.

Cubic Corp. [CUB] on Monday reported a net loss and lower sales in its fourth quarter due to previously announced delays in orders with the Defense Department.The net loss was $7.5 million, 29 cents earnings per share (EPS), on sales of $406.6 million, which were down 5 percent from $425.9 million a year ago. Last month Cubic warned investors that order delays from the Pentagon meant the company had to lower its expectations for the fourth quarter.Sales were also negatively…

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