SOURCE: Cubic Corporation

Cubic Corporation

December 12, 2011 07:00 ET

Cubic Wins Middle East Training Contract Worth $120 Million With Options

Covers Systems for Basic and Advanced Individual Marksmanship, Collective Team, Section and Platoon Level Exercises, Direct and Indirect Firing, and Judgmental Training

SAN DIEGO, CA--(Marketwire - Dec 12, 2011) - Cubic Corporation (NYSE: CUB) announced today that it has signed a prime contract with a major Middle East customer to provide comprehensive marksmanship and small arms training capabilities.

Worth more than $120 million including various options, it is the largest single contract ever awarded to Cubic's Simulation System Division, based in Orlando, Florida.

Under the contract, Cubic will provide immersive training equipment for a variety of weapons at more than 20 sites. The capabilities include a wide range of tactical requirements including sniper, mortar and close air support.

"This contract underscores Cubic's commitment to our security partners in the Middle East region," said Bradley Feldmann, President Cubic Defense Applications, Inc. "Won in the face of intense international competition, it provides a solid multiyear foundation for our virtual training business and reinforces Cubic's role as the leading provider of immersive and marksmanship training equipment."

Cubic Corporation is the parent company of three major business segments: Defense Systems, Mission Support Services and Transportation Systems. Cubic Defense Systems is a leading provider of realistic combat training systems and defense electronics. Mission Support Services is a leading provider of training, operations, maintenance, technical and support services. Cubic Transportation Systems is the world's leading provider of automated fare collection systems and services for public transit authorities. For more information about Cubic, see the company's Web site at www.cubic.com.

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