Cubic Defence New Zealand ranked six among ‘Ten Companies to Watch’ by Technology Investment Network
SAN DIEGO – November 1, 2016 – Cubic Global Defense (CGD), a business unit of Cubic Corporation (NYSE: CUB), today announced that Cubic Defence New Zealand (CDNZ) was named one of ‘Ten Companies to Watch’ with the largest revenue growth in 2016 by Technology Investment Network (TIN), the publisher of the TIN100 Report in New Zealand. The TIN100 Report tracks the performance of New Zealand’s 200 largest technology exporters in the fields of high-tech manufacturing, Information and Communication Technology (ICT) and biotechnology.
The TIN100 ‘Ten Companies to Watch’ recognizes companies that achieved the highest dollar value increase in revenue during the past fiscal year as well as a minimum growth of five percent. CDNZ reported an annual growth of $29 million NZD from 2015, totaling 2016 revenue of $103 million NZD.
CDNZ develops world-class, customized training solutions that enable defense customers to achieve performance-based training outcomes. The company grew in size by 20 percent and significantly expanded the technical breadth of its training solutions in 2016.
“CDNZ’s strong revenue growth this year reflects our company’s ability to win large and demanding defense customers with innovative solutions of increasing scale and sophistication,” said Eric Stierna, general manager of Cubic Defence New Zealand. “We are proud to be part of New Zealand’s fast growing technology sector and would like to thank Callaghan Innovation for their ongoing support through the R&D Growth Grant.”
The TIN100 is an industry report sponsored by Callaghan Innovation, New Zealand Trade and Enterprise, EY and AJ Park. The TIN100 Report is a critical reference for benchmarking the performance of New Zealand’s 200 largest globally focused technology companies. The twelfth edition of the TIN100 Report is now available at www.tin100.com and contains exclusive trend data and content showcasing New Zealand’s top ten and most promising companies in various categories.
A Cubic release