Leidos Holdings, Inc. - LDOS STOCK NEWS

Leidos (NYSE: LDOS) has announced a conference call on February 23, 2021, at 8 a.m. ET to discuss its fourth quarter and full year 2020 financial results, which will cover the period ending January 1, 2021. The earnings press release will be issued prior to the call. Investors can listen via telephone or the internet. Last reported annual revenues were approximately $11.09 billion for the fiscal year ended January 3, 2020. Additional details are available on the Leidos Investor Relations website.

Leidos has finalized its acquisition of 1901 Group for approximately $215 million in cash, enhancing its cloud and digital modernization capabilities. The deal, previously announced on Dec. 10, 2020, adds nearly 400 IT and cloud specialists to Leidos, enabling it to better support mission-critical needs for its customers. 1901 Group, a provider of managed IT services and cloud solutions, will operate as a wholly-owned subsidiary, expected to drive future growth and innovative solutions in the defense sector.

Leidos (NYSE:LDOS), a leader in science and technology, has been awarded a prime contract valued at $64 million from the FAA to modernize their safety analysis tools through the Operational Analysis and Reporting System (OARS). The contract includes a four-year base period and two two-year options, with operations based in Gaithersburg, Maryland, and Morgantown, West Virginia. This initiative supports the FAA's ATO Safety Management System by enhancing safety risk management using advanced technologies.

Leidos (NYSE: LDOS) announced its acquisition of 1901 Group for $215 million, enhancing its position in the digital modernization market. This strategic move aims to expand Leidos' capabilities in cloud and IT services, meeting the growing customer demand for utility-based solutions. Both companies' Boards have approved the transaction, expected to close in Q1 2021, subject to regulatory approvals. 1901 Group, established in 2009, provides managed IT services, cybersecurity, and cloud solutions, making it a valuable addition to Leidos' portfolio.

Leidos (NYSE: LDOS), a FORTUNE 500® leader in science and technology, will participate in the Credit Suisse 8th Annual Virtual Industrials Conference on December 2, 2020, at 3:10 p.m. ET.

Jim Reagan, Executive Vice President and CFO, will engage in a 'fireside chat' during the event. A live audio webcast will be accessible on the Leidos Investor Relations website, with a replay available for 30 days post-event. Leidos reported approximately $11.09 billion in annual revenues for the fiscal year ending January 3, 2020, and employs about 38,000 people across various sectors.

Leidos (NYSE: LDOS) was awarded a cost-plus-fixed-fee contract by Naval Medical Logistics Command worth up to $82 million for operational medicine and warfighter performance research. This contract spans 60 months and will be executed primarily at the Naval Health Research Center in San Diego, California. The research will enhance military health and support the Department of Defense's operational readiness through data-driven modeling and human performance analysis, focusing on improving mission readiness and resilience among military personnel.

The Leidos Partnership for Defense Health has announced further deployments of the MHS GENESIS electronic health record system at military treatment facilities in Nevada, California, and Alaska. This initiative, which started in 2015, aims to streamline health records for millions of service members and their families. Up to 10,000 clinicians can now access a unified health record. Recent waves have included significant expansions for the U.S. Coast Guard, with full deployment expected by the end of 2023.

Leidos Holdings reported third-quarter revenues of $3.24 billion, a 14.4% increase from the previous year, attributed to acquisitions of Dynetics and L3Harris Technologies' SD&A Businesses. Operating income rose to $258 million with a margin decrease to 8.0%. Diluted EPS reached $1.13, slightly up from $1.11. The company revised fiscal 2020 guidance, projecting revenues between $12.3 billion and $12.5 billion and non-GAAP diluted EPS of $5.65 to $5.85. Backlog stands at $31.7 billion.

Leidos Holdings, Inc. (NYSE: LDOS) has declared a quarterly cash dividend of $0.34 per share, payable on Dec. 31, 2020, to stockholders of record as of Dec. 15, 2020. The announcement reflects the company's ongoing commitment to returning value to its shareholders. For the fiscal year ended January 3, 2020, Leidos reported annual revenues of approximately $11.09 billion.