Cubic reports Q3 EPS (81c), may not compare to consensus 5c
Reports Q3 revenue $361.9M, consensus $383.47M. The company said, "The operating loss for the third quarter and increase in the operating loss for the first nine months of fiscal 2017 were primarily driven by significant acceleration of investment in research & development (R&D) activity and bid preparation expense, particularly in the transportation business, and losses on a market-entry contract in the road tolling industry. The operating losses for the quarter and nine-month period were partially offset by the $8.0 million gain noted above related to a contract adjustment approved by the U.S. Navy. The increase in the operating loss for the first nine months of the fiscal year was also partially offset by a reduction in general and administrative expenses that was primarily attributable to a decrease in acquisition-related expenses from acquired businesses."