Cubic Corp., the defense contractor that has a big footprint in the mass-transit space, reported net income of $13.2 million, or 49 cents per share, on revenue of $445.6 million in its fourth quarter, which ended Sept. 30.
Revenue was almost 10 percent higher than it was during the same quarter of 2016.
For the year, Cubic (NYSE: CUB) reported net loss of $11.2 million, or 41 cents per share, on all-time high revenue of $1.49 billion.
Annual revenue for the Kearny Mesa based corporation grew about 2 percent, from $1.46 billion. Cubic essentially broke even in fiscal 2016, with net income of $1.7 million or 6 cents per share.
The company’s total order backlog at Sept. 30 was a respectable $3.1 billion.
“With the recent New York Metropolitan Transportation Authority contract win, we now have the highest backlog in the company’s history and are well positioned to deliver strong organic growth,” Cubic CEO Bradley Feldmann said in a prepared statement.
Cubic’s net loss in the fourth quarter of 2016 was $7.5 million or 29 cents per share on revenue of $406.7 million.
The business forecast fiscal 2018 sales in the range of $1.51 billion to $1.56 billion.