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Leidos Takes $14M Charge Related to Reveal Acquisition

Cal Biesecker By
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Leidos [LDOS] says it took a $14 million non-cash charge in its third quarter related to its acquisition of explosives detection systems (EDS) manufacturer Reveal Imaging three years ago and because of an announcement by the Transportation Security Administration (TSA) in late October that it plans to buy fewer EDS systems over the next few years for checked baggage screening than expected. In addition to weakness with its Reveal product line in the quarter, the company’s security business was hit…

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