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Leidos Reports Strong Earnings, Lower Sales In First Quarter

Cal Biesecker By
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Leidos Reports Strong Earnings, Lower Sales In First Quarter
Leidos Chairman and CEO Roger Krone. Photo: Leidos

Leidos [LDOS] on Thursday reported higher earnings in its first quarter despite a dip in sales as the bottom line results were driven by lower acquisition integration and restructuring costs and stronger program performance in its Defense Solutions and Civil segments.Net income soared 38 percent to $102 million, 66 cents earnings per share (EPS), from $72 million (47 cents EPS) a year ago. Operating margin rose a percent to 6.5 percent.Excluding the charges from a year ago related to the…

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