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Leidos Earnings, Sales Fall In Fourth Quarter Amid Continued Headwinds; Shea Resigns

Cal Biesecker By
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Leidos Earnings, Sales Fall In Fourth Quarter Amid Continued Headwinds; Shea Resigns
Leidos Chairman and CEO John Jumper. Photo: Leidos

Beset by continued drags on defense and government spending and lower volume in its health and engineering group, Leidos Holdings [LDOS] on Thursday posted declines in income and sales in its fourth quarter and expects sales to contract further in 2015. The company also announced that Stu Shea, the company’s president and chief operating officer and the architect of the breakup of the old SAIC into Leidos and the new SAIC [SAIC], will resign effective April 6. The company said…

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