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Leidos Holdings, Inc. (LDOS) SEC Filing 10-Q Quarterly report for the period ending Friday, September 28, 2018

Leidos Holdings, Inc.

CIK: 1336920 Ticker: LDOS


EXHIBIT 99.1

Leidos Holdings, Inc. Reports Third Quarter Fiscal Year 2018 Results

Revenues: $2.58 billion
Diluted Earnings per Share: $0.96
Non-GAAP Diluted Earnings per Share: $1.14
Net Bookings: $4.6 billion (book-to-bill ratio of 1.8)

RESTON, Va., October 25, 2018 – Leidos Holdings, Inc. (NYSE: LDOS), a FORTUNE 500® science and technology leader, today reported financial results for the third quarter of fiscal year 2018.  
Roger Krone, Leidos Chairman and Chief Executive Officer, commented: "Revenue growth, robust bookings, and the record backlog position achieved during the third quarter demonstrate a continued build of our growth trajectory. We were successful in translating this growth into value for our shareholders through higher levels of profits and cash. We will continue to deploy excess cash in a thoughtful and disciplined manner."
Summary Results
Revenues for the quarter were $2.58 billion, compared to $2.50 billion in the prior year quarter, reflecting a 2.9% increase.
Operating income for the quarter was $203 million, compared to $151 million in the prior year quarter. Operating income margin increased to 7.9% from 6.0% in the prior year quarter, primarily due to decreases in amortization of intangible assets and integration and restructuring costs. Non-GAAP operating income margin for the quarter was 10.2%, same as in the prior year quarter.
Diluted earnings per share ("EPS") attributable to Leidos common stockholders for the quarter was $0.96, compared to $0.53 in the prior year quarter. Non-GAAP diluted EPS for the quarter was $1.14, compared to $0.95 in the prior year quarter. The weighted average diluted share count for the quarter was 153 million compared to 154 million in the prior year quarter.
Defense Solutions
Defense Solutions revenues for the quarter of $1,249 million increased by $48 million, or 4.0%, compared to the prior year quarter. The revenue increase was primarily attributable to ramp up of volumes from new programs, partially offset by the completion of certain contracts.
Defense Solutions operating income margin for the quarter was 7.0%, compared to 6.7% in the prior year quarter. On a non-GAAP basis, operating income margin for the quarter was 8.4%, same as in the prior year quarter.
Civil
Civil revenues for the quarter of $882 million increased by $44 million, or 5.3%, compared to the prior year quarter. The revenue increase was primarily due to ramp up of volumes from new programs, a net increase in program volumes and higher net profit write-ups in the current year quarter, partially offset by the completion of certain contracts.
Civil operating income margin for the quarter was 10.5%, compared to 6.0% in the prior year quarter. On a non-GAAP basis, operating income margin for the quarter was 13.3%, compared to 11.2% in the prior year quarter, primarily attributable to higher net profit write-ups in the current year quarter.

1

The following information was filed by Leidos Holdings, Inc. (LDOS) on Thursday, October 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Leidos Holdings, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited)
Condensed Consolidated Statements Of Equity (Unaudited)
Condensed Consolidated Statements Of Income (Unaudited)
Accounting Standards
Accounting Standards (Details)
Accounting Standards (Tables)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (Schedule Of Accumulated Other Comprehensive Loss) (Detail)
Accumulated Other Comprehensive Income (Tables)
Acquisitions
Acquisitions (Integration Costs) (Details)
Acquisitions (Tables)
Acquisitions (Textual) (Details)
Business Segments
Business Segments (Schedule Of Segment Reporting Information By Segment) (Detail)
Business Segments (Tables)
Commitments
Commitments (Additional Information) (Detail)
Contingencies
Contingencies (Additional Information) (Detail)
Contract Asset And Liabilities
Contract Asset And Liabilities (Details)
Contract Asset And Liabilities (Tables)
Debt
Debt (Revolving Credit Facility) (Detail)
Debt (Senior Secured Notes And Senior Secured Term Loans) (Detail)
Debt (Summary Of Debt) (Detail)
Debt (Tables)
Derivative Instruments
Derivative Instruments (Details)
Derivative Instruments (Tables)
Divestiture (Tables)
Divestitures
Divestitures (Balance Sheet) (Details)
Divestitures (Narrative) (Details)
Earnings Per Share (Eps)
Earnings Per Share (Eps) (Narrative) (Details)
Earnings Per Share (Eps) (Reconciliation Of Weighted Average Number Of Shares Outstanding) (Detail)
Earnings Per Share (Eps) (Tables)
Fair Value Measurements
Fair Value Measurements (Details)
Fair Value Measurements (Tables)
Goodwill
Goodwill (Schedule Of Changes In Goodwill By Segment) (Detail)
Goodwill (Tables)
Income Taxes
Income Taxes (Details)
Intangible Assets
Intangible Assets (Amortization Of Intangibles) (Details)
Intangible Assets (Narrative) (Details)
Intangible Assets (Summary) (Details)
Intangible Assets (Tables)
Nature Of Operations And Basis Of Presentation
Nature Of Operations And Basis Of Presentation (Additional Information) (Detail)
Property, Plant And Equipment
Property, Plant And Equipment (Details)
Property, Plant And Equipment (Tables)
Restructuring Expenses
Restructuring Expenses (Details)
Restructuring Expenses (Tables)
Revenues
Revenues (Disaggregation Of Revenue) (Details)
Revenues (Dual Reporting) (Details)
Revenues (Narrative) (Details)
Revenues (Tables)
Significant Accounting Policies
Significant Accounting Policies (Details)
Significant Accounting Policies (Policies)
Significant Accounting Policies (Tables)
Supplementary Cash Flow Information And Restricted Cash
Supplementary Cash Flow Information And Restricted Cash (Detail)
Supplementary Cash Flow Information And Restricted Cash (Tables)

Material Contracts, Statements, Certifications & more

Leidos Holdings, Inc. provided additional information to their SEC Filing as exhibits

Ticker: LDOS
CIK: 1336920
Form Type: 10-Q Quarterly Report
Accession Number: 0001336920-18-000052
Submitted to the SEC: Thu Oct 25 2018 9:40:19 AM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Friday, September 28, 2018
Industry: Computer Integrated Systems Design

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