XML 14 R2.htm IDEA: XBRL DOCUMENT v3.20.2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Net sales:        
Net sales $ 350,439 $ 382,679 $ 1,000,760 $ 1,025,277
Costs and expenses:        
Selling, general and administrative expenses 62,272 82,167 206,481 211,348
Research and development 12,254 12,470 32,036 38,236
Amortization of purchased intangibles 16,358 9,717 42,940 32,677
Gain on sale of property, plant and equipment (40) (32,563) (170) (32,563)
Restructuring costs 3,393 8,505 8,775 12,254
Total costs and expenses 325,733 347,954 1,012,471 997,659
Operating income (loss) 24,706 34,725 (11,711) 27,618
Other income (expenses):        
Interest and dividend income 1,997 1,696 5,908 4,343
Interest expense (7,366) (6,132) (20,948) (14,695)
Loss on extinguishment of debt     (16,090) 0
Other income (expense), net (6,773) (8,714) (26,564) (17,069)
Income (loss) from continuing operations before income taxes 12,564 21,575 (69,405) 197
Income tax provision (benefit) 4,602 1,029 (8,936) (305)
Income (loss) from continuing operations 7,962 20,546 (60,469) 502
Net income (loss) from discontinued operations 252 (202) (203) (1,541)
Net (income) loss 8,214 20,344 (60,672) (1,039)
Less noncontrolling interest in net income (loss) of VIE 9,369 (3,566) 181 (8,970)
Net income (loss) attributable to Cubic (1,155) 23,910 (60,853) 7,931
Amounts attributable to Cubic:        
Net income (loss) from continuing operations (1,407) 24,112 (60,650) 9,472
Net income (loss) from discontinued operations 252 (202) (203) (1,541)
Net income (loss) attributable to Cubic $ (1,155) $ 23,910 $ (60,853) $ 7,931
Basic        
Continuing operations attributable to Cubic (in dollars per share) $ (0.04) $ 0.77 $ (1.94) $ 0.31
Discontinued operations (in dollars per share) 0.01 (0.01) (0.01) (0.05)
Basic earnings per share attributable to Cubic (in dollars per share) (0.04) 0.77 (1.94) 0.26
Diluted        
Continuing operations attributable to Cubic (in dollars per share) (0.04) 0.77 (1.94) 0.31
Discontinued operations (in dollars per share) 0.01 (0.01) (0.01) (0.05)
Diluted earnings per share attributable to Cubic (in dollars per share) $ (0.04) $ 0.77 (1.94) 0.26
Dividends per common share (in dollars per share)     $ 0.14 $ 0.14
Weighted average shares used in per share calculations:        
Basic (in shares) 31,299 31,160 31,289 30,267
Diluted (in shares) 31,299 31,249 31,289 30,332
Products        
Net sales:        
Net sales $ 221,039 $ 255,900 $ 609,137 $ 660,897
Costs and expenses:        
Costs 151,553 190,434 471,398 491,856
Services        
Net sales:        
Net sales 129,400 126,779 391,623 364,380
Costs and expenses:        
Costs $ 79,943 $ 77,224 $ 251,011 $ 243,851