Cubic's CEO Zable targets triple earnings in 1995.SAN DIEGO--(BUSINESS WIRE)--Dec. 22, 1994--Strong backlog Backlog The total value of sales orders waiting to be fulfilled. Notes: This figure is used mainly in the manufacturing industry. Increases or decreases in a company's backlog indicate the future direction of sales and earnings. of unfilled orders as a result of improved new business bookings, sales and income from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the was reported Thursday Thursday: see week. by Cubic Corp. (ASE (Adaptive Server Enterprise) A relational DBMS from Sybase that runs on Windows NT/2000, Linux and a variety of Unix platforms. ASE is a comprehensive and robust data management product with a long history dating back to the late 1980s. :CUB cub the newborn of a number of animal species as diverse as lion, fox and bear. ) for fiscal-year 1994, ended Sept. 30. Walter Wal·ter , Bruno 1876-1962. German conductor noted for his interpretations of Mozart and Mahler. Noun 1. Walter - German conductor (1876-1962) Bruno Walter J. Zable, chief executive officer of the San Diego-based firm which serves the defense, public-transit and toll-road industries, announced sales of $260,622,000 up from $221,437,000 reported for fiscal-year 1993, ended Sept. 30. Income from continuing operations for fiscal 1994 was $2,533,000, or 42 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. after profit sharing profit sharing, arrangement by which employees receive, in addition to their wages, a share of the net profits of a business. The purpose is to give them an incentive to increase their output through enhanced morale, less wasteful use of materials, better care of , compared with $2.21 million, equal to 36 cents per share, reported at fiscal year end in 1993. Sales for the fourth quarter of fiscal 1994 were $78,245,000, vs. $58,704,000 in the same fiscal period in 1993. Net income for the fourth quarter of 1994, ended Sept. 30, was $1,205,000, or 20 cents per share, vs. $1,346,000, equal to 22 cents per share, reported for the like period in 1993. "Our backlog at the end of fiscal 1994 was $407 million, compared to $246 million at the end of the prior year. The company received $350 million in new business bookings for the year," Zable said. "The company's financial position and markets are strong. Our 1995 target is to triple our earnings." -0-
CUBIC CORP.
FINANCIAL RESULTS
(Amounts in thousands, except per-share data)
Fiscal year ended Sept. 30,
1994 1993
Sales $ 260,622 $ 221,437
Income from:
Continuing operations $ 2,533 $ 2,210
Discontinued operations (153) 20,071
Cumulative effect of
accounting change 1,379 0
Net income $ 3,759 $ 22,281
Net income per share from:
Continuing operations $ .42 $ .36
Discontinued operations $ (.03) $ 3.30
Cumulative effect of
accounting change $ .23 $ 0
$ .62 $ 3.66
Average shares of common stock
outstanding 6,023 6,095
Backlog from continuing operations $ 406,500 $ 246,100
-0-
Fourth Quarter Ended Sept. 30,
1994 1993
Sales $ 78,245 $ 58,704
Net income (loss) from:
Continuing operations $ 1,205 $ 2,067
Discontinued operations 0 (721)
Net income $ 1,205 $ 1,346
Income (loss) per share from:
Continuing operations $ .20 $ .34
Discontinued operations 0 (.12)
Net income $ .20 $ .22
CONTACT: Cubic Corp., San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay.
Gerry Reeves, 619/277-6780 (office)
619/447-2582 (home)
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