Cubic Corp. Reports Rise in Quarter’s Net

Cubic Corp. reported that net income rose to $2 million for the second quarter ended March 30, up from $414,000 a year ago. Revenue rose by 3% to $88.7 million. Net income for the first half rose from $1.5 million to $4.5 million. First-half revenue rose by 6% to $176 million.

Cubic--which produces defense electronics, elevator systems and fare collection systems--is “rebounding nicely from the unsatisfactory performance experienced during fiscal 1986,” according to Cubic Chief Executive Walter Zable. “We expect improved performance through the rest of fiscal 1987.”