San Diego-based Cubic Corp. (NYSE: CUB) reported at the close of last week higher sales and earnings for the fiscal year ended Sept. 30.
According to a release from the company, sales in fiscal year 2012 settled at $1.381 billion, an increase of 7 percent over the prior year, which were reported to be $1.296 billion.
The year-end financial report also showed that net income attributable to Cubic shareholders increased to $91.9 million, or $3.44 per share, from $83.6 million, in the prior year, as restated. The sales and net income figures were both record highs, the report indicated.
Figures included filings to the Securities and Exchange Commission of Cubic's financial statements for the quarter ended June 30 and the fiscal year ended Sept. 30. The company also filed its restated financial statements for the fiscal years ended Sept. 30, 2011, 2010 and 2009, as well as the quarters ended March 31, 2012 and Dec. 31, 2011, and each of the prior quarters of 2011 and 2010.
The restatement resulted in a cumulative increase in equity of $26.9 million through March 31, 2012.
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