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Last $42.15 USD
Change Today +0.09 / 0.21%
Volume 422.5K
LDOS On Other Exchanges
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As of 8:04 PM 04/24/15 All times are local (Market data is delayed by at least 15 minutes).

leidos holdings inc (LDOS) Key Developments

United States Army Awards $7.2 Billion Prime Contract to Leidos

Leidos was awarded a prime contract by the United States Army Intelligence and Security Command (INSCOM) to provide global intelligence support services. The multiple-award indefinite-delivery/indefinite-quantity contract has a five-year period of performance and a total contract ceiling of $7.2 billion ($5 billion for full and open and $2.2 billion for small business awardees). Leidos is one of thirteen large business contractors eligible to compete for task orders under the contract.

Former Executive Seeks $45 Million in Lawsuit against Leidos Holdings, Inc

A former Leidos Holdings Inc. executive is accusing the Reston-based government contractor of discrimination and wrongful termination and alleging the company and its former CEO defamed him. In an amended complaint filed March 30 in U.S. District Court in Alexandria, Joseph Craver, a former president of the company's health and engineering sector, alleges Leidos and former CEO John Jumper fired him in December 2013 because he was diagnosed with Parkinson's disease. Craver is seeking more than $45 million in damages in the case, which was originally filed May 8, 2014, in the Virginia Circuit Court of Fairfax and moved to federal court in March. Craver's lawsuit claims his termination was because of a perception that his Parkinson's disease diagnosis 'substantially limited his major life activities, even though there was no basis for this perception. An attorney for Leidos and Jumper did not respond to a request for comment. According to the court filing, Craver said he was always in good standing with the company, enjoying a successful and lucrative career that began as a staff engineer. Craver claims the severance package did not fairly compensate him for his nearly 25 years of service to Leidos and its previous incarnation as Science Applications International Corp., the suit alleges. It also claims Leidos cut off his stock options that were to vest in the next 15 months. Craver also claims Leidos and Jumper defamed him in a statement that appeared in a March 14 online post in theWashington Business Journal. Craver's complaint said the statement made it impossible to find other employment and exacerbated his emotional and physical distress.

Ripken Baseball and Leidos, Inc. Announces Stadium Naming Rights Partnership

Ripken Baseball and Leidos, Inc. announced a multi-year partnership granting Leidos the naming rights for Ripken Stadium in Aberdeen, Md. Leidos Field at Ripken Stadium is now the home of the Aberdeen IronBirds, New York-Penn League short-season affiliate of the Baltimore Orioles. The IronBirds home opener at Leidos Field at Ripken Stadium is set for June 19 at 7:30 p.m. against the Hudson Valley Renegades. The IronBirds and Leidos Field at Ripken Stadium will also play host to the 2015 New-York Penn League All-Star Game in August. Season ticket packages are currently available and offered through full season, half season and 9-game ticket plans.

Leidos Holdings, Inc. Announces Unaudited Consolidated Earnings Results for Fourth Quarter and Full Year Ended January 30, 2015 ; Provides Outlook for the 12 Month Period from January 3, 2015 to January 1, 2016 ; Approves Change in the Company's Fiscal Year

Leidos Holdings, Inc. announced unaudited consolidated earnings results for fourth quarter and full year ended January 30, 2015. For the quarter, the company reported revenues of $1,169 million, operating income of $37 million, income from continuing operations before income taxes of $24 million, net income of $44 million, income from continuing operations of $26 million or $0.35 per diluted share, net income of $44 million or $0.59 per diluted share, total cash flows provided by operating activities of continuing operations of $102 million, expenditures for property, plant and equipment of $3 million compared to the revenues of $1,291 million, operating income of $81 million, income from continuing operations before income taxes of $47 million, net income of $44 million, income from continuing operations of $47 million or $0.56 per diluted share, net income of $44 million or $0.52 per diluted share, total cash flows provided by operating activities of continuing operations of $109 million, expenditures for property, plant and equipment of $22 million for the same quarter a year ago. Non-GAAP diluted earnings per share from continuing operations was $0.69, down from $0.70 in the prior year. For the year, the company reported revenues of $5,063 million, operating loss of $214 million, loss from continuing operations before income taxes of $283 million, net loss of $323 million, loss from continuing operations of $330 million or $4.46 per diluted share, net income of $323 million or $4.36 per diluted share, total cash flows provided by operating activities of continuing operations of $396 million, expenditures for property, plant and equipment of $29 million compared to the revenues of $5,755 million, operating income of $163 million, income from continuing operations before income taxes of $88 million, net income of $164 million, income from continuing operations of $84 million or $0.98 per diluted share, net income of $164 million or $1.94 per diluted share, total cash flows provided by operating activities of continuing operations of $191 million, expenditures for property, plant and equipment of $53 million for the previous year. The company provided outlook for the 12 month period from January 3, 2015 to January 1, 2016. For the period, the company expected revenues of $4.6 billion to $5.0 billion, non-GAAP diluted earnings per share from continuing operations of $2.20 to $2.45 and cash flows provided by operating activities from continuing operations of at or above $200 million. On March 20, 2015, the Company's Board of Directors approved a change in the company's fiscal year-end from the Friday nearest the end of January to the Friday nearest the end of December, effective beginning with calendar year 2015. This change does not impact current fiscal year (fiscal year 2015), which ended January 30, 2015. However, calendar year 2015 will be shortened from 12 months to 11 months and end on January 1, 2016.

Leidos Holdings, Inc. Declares Quarterly Cash Dividend, Payable on April 30, 2015; Announces Executive Changes

Leidos Holdings, Inc. announced that its Board of Directors declared a quarterly cash dividend of $0.32 per share payable on April 30, 2015 to stockholders of record as of the close of business on April 15, 2015. On March 20, 2015, the company's Board of Directors designated CEO Roger A. Krone to serve as Chair of the Board, succeeding former CEO John P. Jumper in that role. Mr. Jumper will continue to serve as a member of the Board. Lawrence C. Nussdorf continues to serve as the Company's Lead Independent Director.

 

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