Leidos Holdings, Inc. Reports Fourth Quarter and Fiscal Year 2017 Results

 

 

LEIDOS HOLDINGS, INC.
UNAUDITED SEGMENT OPERATING RESULTS
(in millions)

During the first quarter of fiscal 2017, the Company completed its business reorganization, which resulted in identification of three reportable segments - Defense Solutions, Civil and Health. Additionally, the Company separately presents the costs associated with corporate functions as Corporate. The Company commenced operating and reporting under the new organizational structure effective the beginning of fiscal year 2017. As a result of this change, prior year segment results and disclosures have been recast to reflect the new reportable segments.

The segment information for the periods presented was as follows:



Three Months Ended


Twelve Months Ended



December 29,
 2017


December 30,
 2016


Dollar
change


Percent
change


December 29,
 2017


December 30,
 2016


Dollar
change


Percent
change

Revenues:

















Defense Solutions


$

1,221



$

1,269



$

(48)



(3.8)

%


$

4,959



$

3,843



$

1,116



29.0

%

Civil


854



862



(8)



(0.9)

%


3,409



2,082



1,327



63.7

%

Health


441



443



(2)



(0.5)

%


1,802



1,117



685



61.3

%

Corporate




1



(1)



NM




1



(1)



NM

Total


$

2,516



$

2,575



$

(59)



(2.3)

%


$

10,170



$

7,043



$

3,127



44.4

%


















Operating income
(loss):

















Defense Solutions


$

85



$

88



$

(3)



(3.4)

%


$

307



$

312



$

(5)



(1.6)

%

Civil


56



66



(10)



(15.2)

%


226



146



80



54.8

%

Health


44



48



(4)



(8.3)

%


228



110



118



107.3

%

Corporate


(84)



(50)



(34)



68.0

%


(202)



(151)



(51)



33.8

%

Total


$

101



$

152



$

(51)



(33.6)

%


$

559



$

417



$

142



34.1

%


















Operating income
margin:

















Defense Solutions


7.0

%


6.9

%






6.2

%


8.1

%





Civil


6.6

%


7.7

%






6.6

%


7.0

%





Health


10.0

%


10.8

%






12.7

%


9.8

%





Total


4.0

%


5.9

%






5.5

%


5.9

%






NM - Not Meaningful


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