Cubic Corp. Reaffirms Improved Earnings Outlook for FY `02.Business Editors & High-Tech Writers SAN DIEGO--(BUSINESS WIRE)--Oct. 8, 2002 Cubic Corp. (AMEX AMEX See: American Stock Exchange :CUB cub the newborn of a number of animal species as diverse as lion, fox and bear. ) today announced that its operating performance continued to improve in its fiscal fourth quarter and reaffirmed its earlier stated outlook, saying that it expects a profit increase of approximately 30 percent for the fiscal year ended Sept. 30. In addition, the company realized a one-time tax benefit from a foreign subsidiary of approximately $2.5 million (9 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. ) in the fourth quarter, which will be added on top of the strong earnings from operations for the quarter. "We must complete the closing of our books and our numbers have yet to be audited, but we believe that the results will be even better than we had anticipated previously," stated Walter J. Zable, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Although we don't have the final figures yet, we want our shareholders to know what management expects the results to be. We will continue to let our shareholders know about our programs and expected growth," Zable added. Cubic will release fourth quarter and year-end earnings in early December. The Cubic Transportation Systems group designs and manufactures automatic fare collection systems for public mass transit mass transit, public transportation systems designed to move large numbers of passengers. Types and Advantages Mass transit refers to municipal or regional public shared transportation, such as buses, streetcars, and ferries, open to all on a , including rail and buses throughout the world. The Cubic Defense Applications group provides instrumented air and ground combat training systems, battle command training simulations, and simulation support for U.S. and allied military forces. The group also produces high technology avionics, data links and communications products for government and commercial customers and provides a wide range of technical and logistics services. For more information about Cubic, see the company's Web site at www.cubic.com. In addition to historical matters, this release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. which are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. These forward-looking statements involve predictions of future results. Investors are cautioned that forward-looking statements involve risks and uncertainties which may affect the company's business and prospects. These include the effects of politics on negotiations and business dealings with government entities, economic conditions in the various countries in which the company does or hopes to do business, competition and technology changes in the defense and transit industries, and other competitive and technological factors. |
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