Global science and technology company Leidos has reported revenues of $14.40bn for fiscal year 2022, up 5% compared to fiscal year 2021.
During the year that ended on 30 December, the company’s net income was $693m, or $4.96 per diluted share.
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Net income margin for the year dropped to 4.8%, from 5.5% in the previous year.
The company posted adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) of $1.49bn (a 10.4% margin), which was a 1% decrease over fiscal year 2021.
Net cash provided by operating activities was $986m and free cash flow was $857m.
For the year, Leidos’ backlog was $35.8bn and net bookings totalled $15.4bn.
In the fourth quarter (Q4), the company’s revenues were up 6% to $3.70bn, net income was $180m, or $1.28 per diluted share, and net income margin was down ten basis points year-over-year to 4.9%.
Adjusted EBITDA was up 11% to $397m in Q4 and net cash provided by operating activities for the quarter was $105m.
Leidos chairman and chief executive officer Roger Krone said: “The fourth quarter marked a strong finish to a banner year for Leidos, with record revenue and non-GAAP diluted EPS driving us to the top end of our revenue guidance range and beyond our EPS guidance range for the year.
“Our performance validated that our diversified and resilient portfolio and our investments in technology and innovation are positioning us for growth in key customer missions, including digital modernisation, cyber, hypersonics, and force protection.
“Each and every day, our 45,000 people are helping our customers execute on important missions and meet the world’s most complex challenges.”
The company expects revenues for fiscal year 2023 to be in the range of $14.7bn to $15.1bn and adjusted EBITDA margin to be 10.3% to 10.5%. The guidance is in line with Leidos’ long-term model.
