Leidos Holdings, Inc. Reports Third Quarter Fiscal Year 2017 Results

 

LEIDOS HOLDINGS, INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(in millions, except per share amounts)

 
   

Three Months Ended

 

Nine Months Ended

   

September 29,
 2017

 

September 30,
 2016

 

September 29,
 2017

 

September 30,
 2016

Revenues

 

$

2,503

   

$

1,868

   

$

7,654

   

$

4,468

 

     Cost of revenues

 

2,189

   

1,630

   

6,692

   

3,925

 

     Selling, general and administrative expenses

 

141

   

88

   

428

   

204

 

     Acquisition and integration costs

 

21

   

44

   

56

   

68

 

     Restructuring expenses

 

6

   

5

   

25

   

6

 

     Equity earnings of non-consolidated subsidiaries

 

(5)

   

   

(5)

   

 

Operating income

 

151

   

101

   

458

   

265

 

     Interest income

 

1

   

3

   

5

   

8

 

     Interest expense

 

(36)

   

(28)

   

(110)

   

(57)

 

     Other (expense) income, net

 

   

(1)

   

6

   

(3)

 

Income from continuing operations before income taxes

 

116

   

75

   

359

   

213

 

Income tax (expense) benefit

 

(37)

   

17

   

(108)

   

(27)

 

Net income

 

79

   

92

   

251

   

186

 

Less: net (loss) income attributable to non-controlling
  interest

 

(3)

   

1

   

(1)

   

1

 

Net income attributable to Leidos common stockholders

 

$

82

   

$

91

   

$

252

   

$

185

 

Earnings per share:

               

     Basic

 

$

0.54

   

$

0.81

   

$

1.67

   

$

2.18

 

     Diluted

 

0.53

   

0.80

   

1.65

   

2.13

 

Weighted average number of common shares 
   outstanding:

               

     Basic

 

152

   

112

   

151

   

85

 

     Diluted

 

154

   

114

   

153

   

87

 
                 

Cash dividends declared per share

 

$

0.32

   

$

13.96

   

$

0.96

   

$

14.60

 

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