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Taxes Trim Leidos’ Fourth Quarter Earnings Despite Strong Sales

Cal Biesecker By
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Taxes Trim Leidos’ Fourth Quarter Earnings Despite Strong Sales
Leidos Chairman and CEO Roger Krone. Photo: Leidos

Higher taxes led Leidos [LDOS] to report a slight dip in its fourth quarter earnings, but sales were strong and adjusted earnings easily topped analysts’ estimates. Net income in the quarter fell nearly 4 percent to $181 million, $1.26 earnings per share (EPS), from $188 million ($1.25 EPS) a year ago. Per share results rose a penny due to a reduced share count. Excluding the tax adjustments and other non-operating costs, adjusted earnings of $1.51 EPS topped consensus estimates by…

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