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Earnings Down, Sales Up At Leidos In Third Quarter

Cal Biesecker By
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Earnings Down, Sales Up At Leidos In Third Quarter
Leidos Chairman and CEO Roger Krone. Photo: Leidos

Leidos [LDOS] on Tuesday reported lower net income on lower operating profit, higher taxes and a foreign exchange loss related to the acquisition of a business in Australia. Net income slid 21 percent to $164 million, $1.17 earnings per share (EPS), from $208 million ($1.43 EPS) a year ago due to higher taxes, lower operating income and a loss related to foreign exchange on the acquisition. Adjusted income, which excludes various acquisition-related costs and derivatives was $1.59 EPS, two cents…

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