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Acquisition Lifts Leidos In Second Quarter; Guidance Increased

Cal Biesecker By
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Acquisition Lifts Leidos In Second Quarter; Guidance Increased
Leidos Chairman and CEO Roger Krone. Photo: Leidos

Leidos [LDOS] on Thursday posted higher sales and earnings in its second quarter driven the acquisition last year of a former Lockheed Martin [LMT] segment, improved operating results and a lower than expected tax rate.The acquisition of the Information Systems & Global Solutions (IS&GS) business in the 2016 third quarter drove the entire sales increase, with revenues for the quarter at $2.6 billion versus $1.3 billion a year ago.  The IS&GS segment added $1.4 billion to the top line, and…

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