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Business/Financial

Operating Profit Slides At Leidos On Charge, U.S. Troop Drawdown

By Cal Biesecker

Tuesday, May 12th, 2015

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Operating Profit Slides At Leidos On Charge, U.S. Troop Drawdown

Leidos Chairman and CEO Roger Krone. Photo: Leidos

Leidos [LDOS] on Tuesday reported lower operating profit and sales in its first quarter driven by a loss related to the pending sale of a biomass power plant, the drawdown of United States military forces from overseas contingencies, and lower government spending.The company’s net income increased 11 percent to $41 million, 55 cents earnings per share (EPS), on the strength of an $18 million profit contribution from discontinued operations, which suffered an $8 million loss a year ago. Net income…

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