SOURCE: Cubic Corporation

July 09, 2008 12:00 ET

Cubic Wins $45+ Million Contract Award From Miami-Dade Transit, Building on 25-Year Relationship as Fare Collection System Supplier

SAN DIEGO, CA--(Marketwire - July 9, 2008) - Cubic Transportation Systems, Inc., a subsidiary of San Diego-based Cubic Corporation (AMEX: CUB), has been awarded a contract to replace Miami-Dade Transit's current fare collection system with an industry leading, contactless smart card system. The solution replaces an original Cubic system (installed in 1983) and will lower agency operating costs and create new service options for patrons.

"This award demonstrates Cubic's commitment to the long-term support of our customers -- in this case, 25 years. Our customers have confidence in Cubic's ability to maintain the productivity and health of their systems over time, including the transition to new technologies that will strengthen their operations," said Walter C. Zable, chairman of Cubic Transportation Systems, Inc. "We're also proud to be able to deliver an all-American system that will create American jobs and keep tax revenues in the U.S."

As the first transit agency in Florida to adopt contactless technology, Miami-Dade County will lead the way toward future interoperability with other agencies in the South Florida region, including the South Florida Regional Transportation Authority (SFRTA)/Tri-Rail, Broward and Palm Beach counties. To achieve this objective, the system will be compliant with the Contactless Fare Media Standard ratified and published by the American Public Transportation Association in 2007. Cubic's recent smart card system launches for the Port Authority Trans-Hudson Corporation (PATH) in New York-New Jersey and the Port Authority Transit Corporation (PATCO) in Philadelphia are the nation's first, and only, CFMS-compliant fare collection systems since the standard was adopted.

Miami's new fare collection system will be based on Cubic's proven technology and software platform for all-contactless smart card ticketing, most recently delivered to the Metropolitan Atlanta Regional Transit Authority (MARTA), a Cubic customer since 1978.

The fare collection technology will be based on Cubic's Nextfare® Solution Suite, and includes all hardware, software and support utilities. The suite features Cubic's open architecture Tri-Reader® smart card processor and the Nextfare® Business Management System, a total enterprise management system for fare collection operations. Miami-Dade Transit will be the tenth deployment of Nextfare® since its introduction in 2005. Other users of this suite include: Washington, D.C.; Baltimore; Atlanta; Los Angeles; San Diego; Minneapolis; Brisbane, Australia; PATH and PATCO.

New features such as Auto-Reload and Web Ticket Purchases will be facilitated by the overall solution. The Miami fare collection system will use both full-feature smart cards for regular commuters and limited use smart cards for visitors and occasional riders, providing added convenience for Metrobus and Metrorail users.

Cubic Transportation Systems, one of Cubic Corporation's major segments, designs and manufactures automated fare collection systems for public mass transit authorities. The corporation's other major segment, Cubic Defense Applications (CDA), is a world leader in realistic combat training systems, mission support services and defense electronics. For more information about Cubic, see the company's website at www.cubic.com.

Contact Information

  • Contact:
    David Liddle
    858-505-2642
    9333 Balboa Ave.
    San Diego, CA 92123
    www.cubic.com