Leidos Holdings (NYSE:LDOS) reported first quarter earnings before the bell today, that beat street view.
On a GAAP basis, LDOS reported net income of $ 72.00 million or 47 cents per share, compared with income of $ 53.00 million or 72 cents per share, a year ago period.
Excluding special items, the company announced Non-GAAP net income of $ 134.00 million or 88 cents per share.
Headquartered in Reston, Virginia, LDOS recorded Revenue that rose 97% to $ 2.58 billion from $ 1.31 billion in the same quarter last year.
Analysts polled by Thomson Reuters expected Leidos Holdings to reveal income of $ 0.79 per share on revenue of $ 2.54 billion for the first quarter.
Roger Krone, Chairman and CEO, commented: The Company had a good start to the year with first quarter performance exceeding our expectations on revenue, margins and earnings per share.The diverse mix of our business, as well as our focus on execution of both customer programs and cost reduction initiatives, enabled these strong results, and reinforces our confidence in our previously issued full year guidance.
Leidos Holdings affirms Fiscal 2017 Guidance, revenues in the range of $1930 million to $1970 million and Non-GAAP earnings in the range of $3.05 to $3.35 per share.