Cubic Corp was incorporated in the State of California in 1949 and began operations in 1951. The Company is engaged in the design, development, manufacture, integration, and sustainment of technology systems and products. It also provides engineering, training, technical, logistic, and information technology services. It serves the needs of various federal and regional government agencies in the U.S. and allied nations around the world with products and services that have both defense and civil applications. Its main areas of focus are in mass transit automated fare payment and revenue management infrastructure, defense, intelligence, homeland security, and information technology, including cyber security. The Company operates in three reportable business segments: transportation systems, defense services and defense systems. The transportation systems business is engaged in the design, development, production, installation, maintenance and operation of automated fare payment, traffic management and enforcement solutions, real-time information collection systems, and revenue management infrastructure and technologies for transportation agencies. As part of its turnkey solutions, CTS also provides these customers with a comprehensive suite of business process outsourcing (BPO) services and expertise, such as card and payment media management, central systems and application support, retail network management, passenger call centers and financial clearing and settlement support. The defense services is a provider of training, operations, intelligence, maintenance, technical, and other support services to the U.S. government and its agencies and allied nations. Its business base includes integrated live, virtual and constructive training support; distance learning and other professional military education; comprehensive logistics and maintenance support; weapons effects and analytical modeling; analysis, training, and other support to the national security community, including intelligence and special operations forces; homeland security training and exercises; training and preparation of U.S. Army and Marine Corps foreign service advisor teams; and military force modernization. It provides in-country logistics, maintenance, operational and training support to U.S. Forces deployed in overseas locations. The defense systems segment operates two primary lines of business: training systems and secure communications (SC) products. The first line of business, training systems, is well diversified and supplies to the DoD and 40 allied nations. Training systems provided by defense systems include customized military range instrumentation systems, live-fire range design and maintenance, laser-based training systems, virtual simulation systems, and game-based synthetic training environments. The second line of business, SC, includes ISR data links, modular networking and broadband communications equipment, power amplifiers, avionics systems, and cross domain products to solve data access challenges across multi-level security designations.