Cubic Corp. reported net income of $6.3 million on net sales of $296.2 million for its third quarter, which ended June 30.
In the third quarter of 2017, Cubic (NYSE: CUB) reported a net loss of $22 million on net sales of $266.2 million.
The business is a defense contractor that also offers equipment and services to mass-transit and government transportation agencies.
Cubic Transportation Systems increased its sales year-over-year by 21 percent. Cubic Mission Solutions, a defense contracting unit, increased its sales 5 percent.
Sales from Cubic Global Defense Systems — a unit that the company sold — were flat. Cubic closed the sale of its business unit on May 31.
The company said it had a record total backlog of $3.7 billion at the end of the quarter.
The recently ended quarter saw Cubic get a contract for a next-generation mass-transit ticketing system in Brisbane, Australia.