I was very concerned to read a recent article in the Washington Post about the resignation of Leidos COO Stuart Shea. According to the article, Shea’s resignation may be linked to the ongoing decline in the company’s revenues and profits.
Leidos reported an 18% drop in fourth quarter revenues from 2012 to 2013, and a 75% drop in fourth quarter profit from 2012 to 2013. I am disappointed with these financial results and hope that they are a temporary aberration. I also hope that the split up of SAIC into two separate companies has not had a negative effect on the ability of Leidos to win new business, and to make a profit on the business that it has.
, Bob