Cubic Posts Profit

(RTTNews) - Cubic Corp (CUB) Tuesday reported fourth-quarter net earnings of $32 million or $1.22 per share, led by the growth in operating income. Analysts polled by Thomson Reuters estimated earnings of $0.94 per share for the quarter. Analysts' estimates typically exclude special items.

Cubic said the 2014 operating income was positively impacted by higher margins from increased sales in the U.K., Australia, and the U.S. Increased international sales of air combat training systems also boosted operating profit. Meanwhile the prior year's results were hurt by impairment charges of $50 million.

Revenues for the quarter were $396.4 million compared with $340.8 million in the prior year. Analysts estimated revenues of $390.5 million for the quarter.

For the fiscal year 2015, the company expects earnings of $2.60 to $2.85 per share on revenues of $1.43 billion to $1.47 billion. Analysts expect earnings of $2.93 per share on revenues of $1.46 billion.

Cubic, based in San Diego, is globally diversified in transportation and defense markets.