LONDON, UK / ACCESSWIRE / March 22, 2018 / Active-Investors.com has just released a free research report on Cubic Corp. (NYSE: CUB). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=CUB as the Company's latest news hit the wire. On March 20, 2018, the Company, which is a leading technology provider of integrated solutions that elevate situational understanding for transportation, defence C4ISR, and training customers worldwide, announced that its Cubic Global Defence (CGD) business division was included in Lockheed Martin (NYSE: LMT)'s winning team that won a seven-year $3.53 billion contract for US Army Training Aids, Devices, Simulators, and Simulations (TADSS) Maintenance Program. This contract was awarded by the Army Contracting Command-Orlando, in support of the nation's Army Program Executive Office for Simulation, Training, and Instrumentation, and would help sustain over 300,000 fielded, including live-fire ranges and instrumentation systems worldwide. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Cubic most and Lockheed Martin recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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The Announcement
Under the terms of the announcement, Cubic would receive over $185 million with substantial over-and-above work, likely to sustain TADSS across the live, virtual, constructive, and gaming domains at multiple locations, hence supporting the Army's readiness at home stations and Combat Training Centers (CTCs). The Company would be responsible for global operations supporting 21 locations across 10 states and three countries, with more than 500 personnel. The ATMP program would support over 61 different types of training aids and devices to include the Company's man-worn Multiple Integrated Laser Engagement System and Home Station Instrumented System.
Cubic viewed the announcement as a step to work closely with Lockheed Martin and other partners to improve operational availability of the Army's TADDS in the critical role of training soldiers across the world. ATMP, according to the Company, allows maintainers to use mobile devices with advanced management information technology to efficiently and effectively track and maintain a wide range of training systems. This would allow the Army to have maximum operational awareness and make informed decisions using on-demand access to accurate, complete, and timely data.
Lockheed Martin, according to the announcement, was the prime contractor of the award, with Cubic being a major subcontractor. Cubic would begin its five-month phase-in with full performance, expected to start on October 31, 2018.
Company Growth Prospects
Prior to the announcement, on March 12, 2018, the Company's Cubic Transportation Systems (CTS) business division and Transport for New South Wales announced that they would expand the open payment trial which was initially introduced to bring contactless ticketing into Australia, across the entire Sydney ferry and light rail network. The integration of contactless transport payment into the Opal ticketing system made the purchasing of one-off fares quick, easy, and seamless, delivering choice and convenience to customers.
Recently, on March 01, 2018, Cubic announced that its Global Defense division would be teaming with Thales in the UK to bid for the Training and Simulation Systems Programme Joint Fires Synthetic Training Project. The JFST Project is aimed at improving the training capabilities delivered to the British Army by delivering an immersive Joint Fires solution to train Joint Fires integrators in both mounted and dismounted roles-across land, littoral, and air domains, both at individual and collective levels.
Stock Performance Snapshot
March 21, 2018 - At Wednesday's closing bell, Cubic's stock was marginally up 0.69%, ending the trading session at $65.50.
Volume traded for the day: 92.26 thousand shares.
Stock performance in the last month - up 7.82%; previous three-month period - up 8.53%; past twelve-month period - up 21.63%; and year-to-date - up 11.11%
After yesterday's close, Cubic's market cap was at $1.80 billion.
The stock has a dividend yield of 0.41%.
The stock is part of the Technology sector, categorized under the Scientific & Technical Instruments industry.
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