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Tax Benefit Helps Leidos Earnings Remain Level Despite Sales Drop; Krone Named Chairman

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Tax Benefit Helps Leidos Earnings Remain Level Despite Sales Drop; Krone Named Chairman

Leidos [LDOS] on Wednesday reported fourth quarter earnings that were the same as a year ago despite a decline in sales as a tax benefit strengthened the bottom line.Leidos also said that Roger Krone, who became the company's CEO last fall, was designated chairman on March 20, succeeding John Jumper, who will remain on the board.Fourth quarter revenues were $1.2 billion, compared to $1.3 billion in the previous year. Net income was level at $44 million, 59 cents earnings per…

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