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Counter-Drone Work Leads Leonardo DRS To Strong Third Quarter

Cal Biesecker By
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Counter-Drone Work Leads Leonardo DRS To Strong Third Quarter
The Leonard DRS Single Vehicle M-LIDS. Photo: Leonardo DRS

Supported by the breadth of its programs, in particular counter-unmanned aircraft (C-UAS) systems and related products, Leonardo DRS [DRS] on Wednesday strong third quarter financial results. Net income jumped 26 percent to $72 million, 26 cents earnings per share (EPS), from $57 million (21 cents EPS) a year ago. Excluding one-time non-operational expenses, amortization of acquired intangible assets, deal-related acquisition costs and restructuring costs, adjusted earnings of 29 cents per share beat consensus estimates by a penny. Sales increased 18…

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