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Leidos Earnings Plummet 52%

|Includes: Leidos Holdings, Inc. (LDOS)

Originally published at

Leidos Holdings Inc. (NYSE:LDOS) announced its financial results for the first fiscal quarter of 2014, with earnings falling 52% as a direct result of decreased government spending. The information technology company reported a 17% decrease in revenue to $1.32B, with health and engineering revenue decreasing 27% and national security solutions revenue decreasing 12%. Earnings this quarter were $37M and $0.47 per share, compared to the year-ago quarter's $77M and $0.92 per share, while adjusted earnings increased from $0.57 to $0.60 per share. Despite the drop in earnings and dip in revenue, the company still beat analyst predictions of $1.26B in revenue with earnings of $0.54 per share.

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