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Stock Market & Financial Investment News

News Breaks
January 24, 2013
12:39 EDTCUBCubic acquires NextBus from Webtech for C$20.75M
Cubic Transportation Systems announced it has acquired NextBus from Webtech Wireless for C$20.75M. NextBus is a provider of real-time passenger information systemswith more than 100 transit agency deployments in the United States and Canada.
News For CUB From The Last 14 Days
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February 24, 2015
12:04 EDTCUBCubic raises semi-annual dividend 12.5% to 13.5c per share
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February 18, 2015
16:09 EDTCUBCubic combines defense segments
Cubic Corporation announced effective it has combined its two defense operating segments into a single segment called Cubic Global Defense, CGD, to better align its organizational structure with customer requirements, increase operational efficiencies and improve collaboration and innovation across the enterprise. The formation of CGD also supports the companyís announcement to streamline its functions across the enterprise to improve profitability and competitiveness. Cubicís defense business totals approximately $800M in annual revenues and serves a diverse U.S. and international customer base concentrated in live, virtual, constructive and gaming training domains, leader and doctrine development, national security programs, special operations and secure communications in the C4ISR market. The consolidated CGD is comprised of six business units with more than 5,500 employees. William J. Toti, former president of Cubicís Mission Support Services segment, has been named president of CGD. Prior to joining Cubic, Toti led a $1.3B business unit in Hewlett-Packardís Enterprise Services sector for the U.S. Navy and Marine Corps Next Generation Enterprise Network program. Prior to HP, Toti was vice president of the Mission Support Operations unit at Raytheon. He also served more than 26 years in the U.S. Navy.
16:05 EDTCUBCubic implements cost-saving initiatives to improve profitability
Cubic Corporation announced the next steps in streamlining its corporate and business segment operations as part of a company-wide activity to improve profitability and competitiveness through its One Cubic initiatives. The companyís new operating structure is effective immediately. These initiatives are anticipated to yield $15-16M in annualized pre-tax savings in fiscal year 2016. The company will incur a pre-tax charge in the second quarter of fiscal year 2015 of approximately $6M due to the restructuring, but estimates cost savings for the balance of the year will result in the restructuring having a neutral impact on its earnings per share for fiscal year 2015.

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