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Tax Benefit Lifts Leidos In Fourth Quarter

Cal Biesecker By
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Tax Benefit Lifts Leidos In Fourth Quarter
Leidos Chairman and CEO Roger Krone. Photo: Leidos

Leidos [LDOS] on Thursday posted a hefty increase in net income in its fourth quarter squarely on the back of a one-time tax benefit whiles sales dipped slightly.Net income nearly doubled to $114 million, 74 cents earnings per share (EPS), from $59 million (39 cents EPS) a year ago, with the tax gain contributing $115 million (75 cents EPS) to the bottom line. Operating income actually fell by about one-third to $101 million and operating margin slid 190 basis points…

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