Cubic Corp. reported a net loss of $9.8 million on sales of $340.7 million in its first quarter of fiscal 2018, which ended Dec. 31.
The Kearny Mesa-based corporation, which splits its business between defense contracting and equipment for public transit systems, reported the financial results Feb. 6.
In the same quarter of last year, Cubic (NYSE: CUB) reported a net loss of $2.9 million on sales of $334.7 million.
Adjusted EBITDA was $17 million, down from $20.1 million in the same quarter last year. The abbreviation stands for earnings before interest, taxes, depreciation and amortization.
For the fiscal year, which ends Sept. 30, Cubic said it expects total sales of $1.51 billion to $1.56 billion, and adjusted EBITDA of $110 million to $135 million, on a constant currency basis with 2017.
The business reported a record backlog of $3.64 billion.