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Leidos Opens Year With Higher Sales, Lower Earnings

Cal Biesecker By
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Leidos Opens Year With Higher Sales, Lower Earnings
Leidos Chairman and CEO Roger Krone. Photo: Leidos

  Leidos [LDOS] on Tuesday posted higher sales in the first quarter driven by gains across its operating segments, although earnings fell due largely to positive legal adjustment a year ago that buoyed results at the time and lower operating income in its Defense Solutions and Civil segments. Net income in the quarter declined 14 percent to $177 million, $1.25 earnings per share (EPS), from $205 million ($1.42 EPS) a year ago. Excluding various acquisition related costs and amortization of…

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