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Business/Financial

Leidos Posts Strong Sales But Income Dips On Higher Taxes

By Cal Biesecker

Tuesday, July 30th, 2019

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Leidos Posts Strong Sales But Income Dips On Higher Taxes

Leidos Chairman and CEO Roger Krone. Photo: Leidos

Leidos [LDOS] on Tuesday posted solid second quarter financial results driven by strong revenue growth and orders although net income was down due to higher taxes. Based on the results, Leidos increased its sales and earnings guidance for 2019 and believes the outlook remains bright into the coming years. The outline of a two-year budget deal between Congress and the Trump administration that increases defense and non-defense spending the next two years and “allows for stable, predictable” budgets to create…

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