Revenue at Leidos’ Defense Solutions segment increased 10.7% to USD1.4 billion in the fourth quarter of fiscal year 2019, fueled by a mix of increased programme volumes and new contract awards, according to the US technology company.
The segment’s operating income surged by 55% to USD124 million in the fourth quarter, Leidos said on 18 February.
For the full year, revenue at Defense Solutions totalled USD5.4 billion, up 8.1% from FY 2018, while operating income climbed 15.3% to USD407 million. The segment accounted for almost half of Leidos’ revenue.
For external reporting, the business of newly acquired Dynetics will be consolidated into Defense Solutions, said Roger Krone, Leidos’ chairman and CEO.
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