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Business/Financial

Acquisitions, Payment Boost Leidos In Second Quarter

By Cal Biesecker

Tuesday, August 4th, 2020

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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…

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