Leidos (LDOS) Tops Q4 EPS by 21c; Appoints New Chairman

Leidos (NYSE: LDOS) reported Q4 EPS of $0.69, $0.21 better than the analyst estimate of $0.48. Revenue for the quarter came in at $1.17 billion versus the consensus estimate of $1.19 billion.

Fiscal Year Change

On March 20, 2015, the Company's Board of Directors approved a change in the Company's fiscal year-end from the Friday nearest the end of January to the Friday nearest the end of December, effective beginning with calendar year 2015. This change does not impact our current fiscal year (fiscal year 2015), which ended January 30, 2015. However, calendar year 2015 will be shortened from 12 months to 11 months and end on January 1, 2016.

The Company intends to file its quarterly reports on Form 10-Q based on the new calendar year end beginning with the first quarter of calendar year 2015, with quarterly Form 10-Q periods ending on the Friday nearest the end of March, June, and September. The Company also currently plans to report the first quarter of calendar year 2015 as a three month period which will include the results of the last month of fiscal year 2015. As such our Quarterly Report on Form 10-Q for the first quarter of calendar year 2015 would be for the three months ending April 3, 2015. Furthermore, the Company will file its Annual Report on Form 10-K for calendar year 2015 as its transition report, which will cover the 11 month period ending on January 1, 2016.

Calendar quarterly periods for 2015 are:

Chair of the Board

On March 20, 2015, the Company's Board of Directors designated CEO Roger A. Krone to serve as Chair of the Board, succeeding former CEO John P. Jumper in that role. Mr. Jumper will continue to serve as a member of the Board. Lawrence C. Nussdorf continues to serve as the Company's Lead Independent Director.

Leidos sees FY2016 EPS of $2.20-$2.45, versus the consensus of $2.53. Leidos sees FY2016 revenue of $4.6-5.0 billion, versus the consensus of $4.95 billion.

For earnings history and earnings-related data on Leidos (LDOS) click here.

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