Leidos Holdings, Inc. Reports Third Quarter Fiscal Year 2016 Results

 

 



Quarter Ended September 30, 2016



As reported


Acquisition and integration costs


Amortization of intangibles


Restructuring expenses


Non-GAAP results

Income from continuing operations, before income taxes


$

75



$

(44)



$

(27)



$

(5)



$

151


Depreciation expense


10









10


Amortization expense


27





27






Interest expense, net


25









25


EBITDA


$

137



$

(44)



$



$

(5)



$

186


 

LEIDOS HOLDINGS, INC.

UNAUDITED NON-GAAP FINANCIAL MEASURES

(in millions, except per share amounts)




Quarter Ended October 2, 2015



As reported


Asset impairment charges


Amortization of intangibles1


Restructuring expenses


Non-GAAP results

Revenue


$

1,302



$



$



$



$

1,302


Cost of revenues


1,138









1,138


Selling, general and administrative expenses 2


66





2



1



63


Asset impairment charges


4



4








Operating income


94



(4)



(2)



(1)



101


Non-operating expense, net


(14)









(14)


Income from continuing operations, before
  income taxes


80



(4)



(2)



(1)



87


Income tax (expense) benefit 3


(31)



2



1





(34)


Income from continuing operations


$

49



$

(2)



$

(1)



$

(1)



$

53













Diluted EPS from continuing operations 4


$

0.67



$

(0.03)



$

(0.01)



$

(0.01)



$

0.73


Diluted shares


73



73



73



73



73



(1) Prior period has been recast to reflect amortization of acquired intangible assets as a non-GAAP adjustment.

(2) Selling, general and administrative expenses includes bad debt expense of $13 million and restructuring expense of $1 million.

(3) Calculation uses an estimated statutory tax rate on non-GAAP tax deductible adjustments.

(4) Earnings per share is computed independently for each of the non-GAAP adjustment presented and therefore may not sum to the total
      non-GAAP earnings per share due to rounding.


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