Leidos Commemorates New Company's Launch As A National Security, Health And Engineering Solutions Leader New York Stock Exchange Opening Bell® Ringing Marks First Day of Trading; Successful Spin-off Transaction Completes Separation of Leidos and SAIC
NEW YORK, Sept. 30, 2013 /PRNewswire/ -- Leidos Holdings, Inc. (Leidos) [NYSE: LDOS], a science and technology solutions leader working to address challenges facing national security, health, and engineering, today celebrates its launch as a new company.
John Jumper, Chairman and CEO, Stu Shea, President and COO, and other members of the executive leadership team, will ring The Opening Bell® at the New York Stock Exchange (NYSE), marking the first day of trading for Leidos shares under the ticker symbol LDOS, following the successful spin-off transaction.
Headquartered in Reston VA, Leidos has scale and leadership in three large addressable markets: national security, which represents about 70 percent of the company's annualized $6 billion in revenues, and health and engineering, which together represent about 30 percent. The Leidos name, clipped from 'ka-leidos-cope,' evokes the new company's ability to approach problems from multiple angles to deliver innovative solutions.
"Today we launch Leidos, building on a proud 44-year legacy," said John Jumper. "Leidos is strongly positioned to address evolving customer challenges and enable better performance. This is an exciting day for our people, who apply their talents and passion every day to support the vital missions of government and commercial customers and protect our nation's physical and digital infrastructure."
Stu Shea said, "Leidos is a unique company defined by core competencies in big data analytics, cyber security and engineering, all underpinned by a robust science and technology foundation. Our national security, health and engineering markets increasingly demand integrated, information-based capabilities that make things smart, efficient, sustainable and secure. We are excited about the opportunities for leveraging the full breadth of our innovative potential to deliver industry-specific solutions."
Today's launch is also being celebrated by 23,000 Leidos employees world-wide. Leidos is a top employer in the Washington D.C. area, serving all branches of the U.S. military, agencies of the U.S. Department of Defense (DoD), the intelligence community, the U.S. Department of Homeland Security (DHS), and other U.S. Government civil agencies. Major national security hubs include Dayton, Ohio, where Leidos is expanding to support the growth of aeronautics, human performance, and manned and unmanned aircraft systems. Healthcare hubs include the Baltimore area, home to the Leidos-operated Federally Funded Research and Development Center for the National Cancer Institute, Leidos Biomedical Research, in Frederick, Md. The company's engineering division has a significant presence in Oklahoma City and Tulsa, Okla., New Orleans, La., Denver, Colo., Detroit, Mich., and St. Louis, Mo. among others. Other major U.S. locations for Leidos include Boston, Mass.; Indianapolis, Ind.; Orlando, Fla.; and San Diego, Calif.
Leidos is a science and technology solutions leader working to address some of the world's toughest challenges in national security, health, and engineering. The Company's 23,000 employees support vital missions for our government and the commercial sector, develop innovative solutions to drive better outcomes, and defend our Nation's digital and physical infrastructure from 'new world' threats. Leidos is headquartered in Reston, Va. and had approximately $6 billion in revenues for fiscal year 2013, on a pro forma basis, following the spin-off of the company's technical, engineering and enterprise IT business on Sept. 27, 2013. For more information, visit www.Leidos.com.
Statements in this announcement, other than historical data and information, constitute forward-looking statements that involve risks and uncertainties. A number of factors could cause our actual results, performance, achievements, or industry results to be very different from the results, performance, or achievements expressed or implied by such forward-looking statements. Some of these factors include, but are not limited to, the risk factors set forth in Leidos' Annual Report on Form 10-K for the period ended January 31, 2013, and other such filings that Leidos makes with the SEC from time to time. Due to such uncertainties and risks, readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof.
SOURCE Leidos Holdings, Inc.