Leidos Sees 8.8% Revenue Growth in FY 2019; Roger Krone Quoted

Roger Krone
Roger Krone

TYSONS CORNER, VA, March 5, 2020 — Leidos (NYSE: LDOS) generated $11.09B in revenue during its 2019 fiscal year, an increase of 8.8 percent from the previous year, ExecutiveGov reported Feb. 20.

The Reston, Va.-based company said Feb. 18 its operating income for the full year reached $912M and operating cash flow was $992M compared to the $749M and $768M figures repectively reported in FY 2018.

Leidos’ defense solutions segment recorded $5.8B in revenue, up 8.1 percent from the previous year, and the increase was attributed to new contract awards and an increase in the volume of programs. The company noted  a potential 15-year, $1B flight services contract from the Federal Aviation Administration in December as one of its notable recent awards.

"Our growth and execution momentum accelerated throughout 2019 and has continued into 2020 with significant new program wins and the opportunity to create value from our two recently announced acquisitions," said Roger Krone, chairman and CEO of Leidos and a 2020 Wash100 winner.

For FY 2020, the company projects revenue in the $12.6B-$13B range.

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