Cubic Corp. Reports Adj. Profit In Q1; Sales Down 3% - Quick Facts

(RTTNews) - Cubic Corp. (CUB) reported first quarter adjusted earnings per share of $0.38, compared to a loss of $0.12, a year ago. On average, six analysts polled by Thomson Reuters expected the company to report breakeven per share, for the quarter. Analysts' estimates typically exclude special items. Adjusted EBITDA was $29.7 million, an increase of 161% year-over-year. First quarter sales were $318.8 million, down 3% year-over-year. Analysts expected revenue of $329.15 million, for the quarter.

"While sales were slightly lower year-over-year, primarily due to differences in order timing, we delivered robust growth in adjusted EBITDA and adjusted EPS in the first quarter of fiscal 2021, supported by strong operational performance, including progress on our NextCUBIC strategy," said Bradley Feldmann, CEO of Cubic.