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Cubic Board Announces Dividend and Plans for Stock Split; Company on Target for Improved Earnings SAN DIEGO, Feb 13, 2002 (BUSINESS WIRE) -- Cubic Corp (AMEX: CUB) today announced at its annual shareholders meeting that the company`s board of directors has approved a regular semi-annual dividend of 19 cents per share, payable on March 16, 2002 to shareholders of record at the close of business on Feb. 18, 2002. Cubic has paid uninterrupted semi-annual dividends for 30 consecutive years. The company also announced that the board has approved a three-for-one split of the company`s common stock, subject to shareholder approval. The stock split must be approved by shareholders at a special meeting, the date and time of which will be announced as soon as possible. If approved, the split will be implemented as soon as practicable. In remarks made at the shareholders meeting, Cubic Chief Financial Officer William Boyle stated, "The earnings target we have set for ourselves for 2002 is a 20 percent increase, and we are in line to meet that goal." Last month, the company announced that net income for the first quarter of fiscal 2002 increased to $5.7 million or 64 cents a share from $4.7 million or 52 cents a share for the same quarter the prior year. The company reported sales of $123.9 million, compared to sales of $120.3 million for the same period last year. The Cubic Transportation Systems Group designs and manufactures automatic fare collection systems for public mass transit, including rail and buses throughout the world. The Cubic Defense Group provides instrumented air and ground combat training systems, battle command training simulations, and simulation support for U.S. and allied military forces. The group also produces high technology avionics, data links and communications products for government and commercial customers and provides a wide range of technical and logistics services. For more information about Cubic, see the company`s Web site at www.cubic.com. In addition to historical matters, this release contains forward-looking statements which are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. These forward-looking statements involve predictions of future results. Investors are cautioned that forward-looking statements involve risks and uncertainties which may affect the company`s business and prospects. These include the effects of politics on negotiations and business dealings with government entities, economic conditions in the various countries in which the company does or hopes to do business, competition and technology changes in the defense and transit industries, and other competitive and technological factors. |
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| aus der Diskussion: | aggressiv kaufen |
| Autor (Datum des Eintrages): | frank55 (13.02.02 21:49:10) |
| Beitrag: | 14 von 135 (ID:5583948) |
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