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

Earnings Press Release
10-Q Quarterly Report
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Leidos Holdings, Inc.
Ticker: LDOS CIK: 1336920

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.

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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