Cubic sees FY17 EPS 40c-80c, consensus $1.88
Sees FY17 sales of $1.505B-$1.555B, consensus $1.54B. Reports total backlog was $2.94B at the end of fiscal year 2016, compared to $2.976B in the prior year, a decrease of $36.0M. Businesses acquired in fiscal 2016 added $49.0M of backlog at acquisition. Changes in exchange rates between the prevailing currency in the company's foreign operations and the U.S. dollar as of the end of fiscal 2016 decreased backlog by $81.3M compared to September 30, 2015. "We expect our financial performance in fiscal year 2017 will show a strong improvement over fiscal year 2016 results. We believe our growth prospects are sound with several key contracts in the coming year. We have a superb team that will drive growth and increase shareholder value, said CEO Bradley Feldmann.