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Cubic wins $18.3M contract from Lockheed Martin

Cubic Defense Systems, a subsidiary of Cubic Corp. (NYSE: CUB), was awarded an $18.3 million contract from Lockheed Martin Aeronautics to design and integrate its latest-generation air combat training system for the F-35 Lightning II, also known as the Joint Strike Fighter (JSF).

Cubic is scheduled to deliver airborne instrumentation and ground station planning and debrief software systems as part of F-35 System Development. Cubic's air combat training system will be deployed to several countries receiving the F-35 jets including the United States, United Kingdom, Italy, Australia, and Norway.

"The F-35 Training Subsystem will be embedded and integrated in the aircraft as they roll off Lockheed Martin's production line," said Dave Schmitz, president of Cubic Defense Systems. "Our tradition of innovation continues as we deliver a solution that leverages our customers’ prior investments and continues to advance the effectiveness of training events."

Cubic and its principal subcontractor, DRS Technologies Inc., will use an embedded P5 solution as the baseline for the F-35 Internal Training Subsystem. Engineering work for the training systems will be performed in San Diego. The contract is the first delivery of production units that will be deployed with the Block 3 F-35 stealth fighters.

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Cubic Corp.

Company Website

9333 Balboa Ave.
San Diego, CA 92123

Company Trade Data

Stock Symbol Close
Change
Chg %Chg
Volume
52-Week
High Low
CUB
43.25
  0.24  
+ 0.56%
96,581,000
55.73
39.83

Insider Trade Data

Date Insider Shares Type Value
08/07/2015 Zable, Walter C Jr 66,974 Sell $3,100,242
08/07/2015 Zable, Walter C Jr 66,974 Sell $3,100,242
06/24/2015 Zable, Walter C Jr 134,453 Sell $6,658,951
06/24/2015 Zable, Walter C Jr 134,453 Sell $6,658,951
06/24/2015 Zable, Walter C Jr 134,453 Sell $6,658,951

Cubic Corp. Executive(s):

Bradley Feldmann

  • Chief Operating Officer, President

John Thomas

  • Chief Financial Officer, Executive Vice President

James Edwards

  • Senior Vice President, General Counsel

Mark Harrison

  • Senior Vice President, Corporate Controller

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Interview with Bradley Feldmann

July 29, 2015 -- George Chamberlin and Bradley Feldmann, president and CEO of Cubic Corp., talk about the many businesses Cubic is involved in, including defense and transportation.

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2014