Aerospace Group:

Business/Financial

Acquisitions, Payment Boost Leidos In Second Quarter

By Cal Biesecker

Tuesday, August 4th, 2020

SHARE:

Acquisitions, Payment Boost Leidos In Second Quarter

Leidos Chairman and CEO Roger Krone. Photo: Leidos

Leidos [LDOS] on Tuesday posted higher sales and earnings in its second quarter driven by two acquisitions earlier this year and a payment related to patent infringement, more than offsetting higher than expected negative impacts from the ongoing pandemic. Net income increased 13 percent to $153 million, $1.06 earnings per share (EPS), from $136 million (93 cents EPS). Adjusted earnings, which exclude acquisition, integration and restructuring costs, asset impairment charges, and the gain or loss on the sale of a…

Unmanned Systems

In Response To Flag Concerns, DoD Looks To Reduce Drone Prices, As Order for 30,000 Looms

The Pentagon is bargain shopping for Group 1 drones, as other countries, including Ukraine and China, have taken advantage of consumer electronics-level prices to bolster their stables. “In last spring’s […]

Pentagon

Amid Questions On Weapons Stockpiles, Caine Says U.S. Has ‘Sufficient’ Munitions For Iran Operation

Pentagon leaders on Wednesday sought to quell concerns over the rate at which the U.S. is employing critical munitions in its military strike campaign against Iran, with lawmakers also pressing […]

Congress

SASC Leaders Criticize Trump’s Defense Strategy, Press Colby On Policy Shifts

Senate Armed Services Committee (SASC) leadership on Tuesday criticized the Trump administration’s new National Defense Strategy (NDS) and pressed the Pentagon’s top policy official to explain the document’s priorities. SASC […]

Congress

Wicker Wants Legislation On DoD’s Equity Investments In Minerals Supply Chain

Legislation regarding equity investments by the Defense Department in critical mineral supply chains is needed to strengthen the larger defense industrial base and demonstrate to the “free market” that the […]