Cubic Reports Second Quarter Fiscal Year 2021 Results

About this update from Lionheart Holdings

[{"type":"text","content":" SAN DIEGO--(BUSINESS WIRE)--\nCubic Corporation (NYSE: CUB) (“Cubic” or the “Company”) today announced its financial results for the second fiscal quarter ended March 31, 2021.\n\nIn light of the pending acquisition of Cubic by Veritas Capital and Evergreen Coast Capital Corporation, the Company will not be hosting a conference call to discuss its financial results. The pending acquisition remains subject to the receipt of certain regulatory approvals and the satisfaction of other closing conditions. Cubic currently anticipates that the pending acquisition will be completed during the second calendar quarter of 2021.\n\nSecond Quarter Fiscal 2021 Highlights\n\n\nSales of $343.4 million, increased 7% year-over-year\n\n\nNet loss from continuing operations attributable to Cubic of $36.0 million, or $1.14 per share, compared to $39.3 million, or $1.25 per share, in the second quarter of the fiscal year ended September 30, 2020 (“fiscal 2020”)\n\n\nAdjusted earnings per share (“EPS”) of $0.15, compared to a loss of $0.12 per share in the second quarter of fiscal 2020\n\n\nAdjusted EBITDA of $22.7 million, compared to $4.5 million in the second quarter of fiscal 2020\n\n\n“We delivered solid growth in Sales, Adjusted EBITDA and Adjusted EPS in the second quarter of fiscal 2021,” said Bradley H. Feldmann, chairman, president and chief executive officer of Cubic. “We continue to make great progress on our NextCUBIC strategy, which is driving innovation and sustainable value for our customers, employees and communities.”\n\n\n\nFinancial Results Summary (unaudited)\n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\nThree Months Ended \n\n\n\n \n\n\n\nSix Months Ended \n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\nMarch 31, \n\n\n\n \n\n\n\nMarch 31, \n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n \n\n\n\n2021\n\n\n\n \n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n(in millions, except per share data)\n\n\n\n \n\n\n\n\n\nSales\n\n\n\n \n\n\n\n$\n\n\n\n343.4\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n321.5\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n662.2\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n650.3\n\n\n\n \n\n\n\n \n\n\n\n\n\nOperating loss\n\n\n\n \n\n\n\n \n\n\n\n(25.6\n\n\n\n)\n\n\n\n \n\n\n\n \...

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