Blog Coverage Leidos Holdings Begins Operational Testing of Sea Hunter

Upcoming AWS Coverage on Broadridge Financial Solutions Post-Earnings Results

LONDON, UK / ACCESSWIRE / November 30, 2016 / Active Wall St. blog coverage looks at the headline from Reston, Virginia-based Leidos Holdings, Inc. (NYSE: LDOS) as the company announced on November 29, 2016, that it has commenced the operational testing of the Highly Autonomous Unmanned Surface Vessel. The tests are being undertaken off the coast of San Diego, California. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.

One of Leidos Holdings’ competitors within the Information & Delivery Services space, Broadridge Financial Solutions, Inc. (NYSE: BR), reported on November 09, 2016, its financial results for the first quarter ended September 30, 2016 of its fiscal year 2017. AWS will be initiating a research report on Broadridge Financial Solutions in the coming days.

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Leidos, a national security, health, and infrastructure solutions company, is working with DARPA and the Department of Defence (DoD) to develop a prototype unmanned vessel under DARPA’s Anti-Submarine Warfare (ASW) Continuous Trail Unmanned Vessel (ACTUV) program. The program aims to develop automated maritime platforms capable of tracking quiet diesel electric submarines. The team from Leidos were assigned with the task of developing a highly autonomous unmanned vessel capable of operating over thousands of kilometres on the open seas for months at a time with minimal remote supervisory control. Leidos team designed and built the ACTUV as per DARPA’s specifications and in April 2016 the said prototype was christened as “Sea Hunter”.

Commenting on the occasion, Mike Chagnon, President of the Leidos Advanced Solutions Group said:

“Sea Hunter is at the forefront of new autonomy technologies for the U.S. military. The operational testing is designed to showcase the unprecedented capabilities that this type of unmanned vessel could offer our military forces.”

About Sea Hunter

In 2014, Leidos had started work on the 132-foot Sea Hunter which has a modular trimaran design. The vessel can remain stable in any weather and is equipped with sonar, electro-optical, and short- and long-range radars.

Leidos had used a surrogate vessel and conducted various sea-tests to ensure that the ACTUV’s technology enables it to operate autonomously and in compliance with maritime laws and international safety standards. The key highlight of the vessel is that it is programmed to identify other vessels and predict their behaviour. The vessel can remotely be navigated from the pier and be deployed for 60-90 days at a time and during this period it does not require any maintenance or human contact. The unmanned vessel can track underwater threats for thousands of miles, and report back with identifying acoustic images of the vessels that it encounters. Once back from its mission the vessel requires very basic maintenance before being ready for deployment.

Extensive Testing of the Sea Hunter

The Sea Hunter is being tested for sensors, mission control hardware and software, and the autonomy system. So far, it has successfully completed initial performance trials in July 2016. The initial performance tests were aimed at testing the vessel for speed, manoeuvrability, stability, seakeeping, acceleration/deceleration, and fuel consumption, including reliability of the mechanical systems in an open-ocean environment. The performance of Sea Hunter for all these tests exceeded expectations.

The Sea Hunter has also successfully completed the autonomy testing by manoeuvring a multi-waypoint mission without anyone directing its course or speed. Leidos also completed the critical Remote Supervisory Control Station (RSCS) test on the Sea Hunter. This test is aimed at controlling the vessel remotely and giving it directions from a remote location whether the vessel is afloat or ashore. This test is critical as once this test is cleared, the Sea Hunter would start testing for other extensive autonomous operations. The Sea Hunter is scheduled to undergo various other extensive tests for two years under DARPA and the Office of Naval Research.

In August 2016, Leidos acquired the Information Systems & Global Solutions (IS&GS) business from Lockheed Martin through a tax-efficient Reverse Morris Trust transaction. The acquisition was valued at $4.6 billion.

Leidos reported its third quarter earnings result on November 03, 2016. Its revenues for the third quarter were $1.87 billion. Out of this $620 million revenue is from the Information Systems & Global Solutions business that Leidos acquired from Lockheed Martin. The non-GAAP diluted EPS from continuing operations for the quarter was $1.25.

Stock Performance

Leidos Holdings’ share price finished yesterday’s trading session at $51.26, rising 2.01%. A total volume of 1.67 million shares exchanged hands. The stock has advanced 29.26% and 41.98% in the last three months and past six months, respectively. Furthermore, since the start of the year, shares of the company have gained 26.42%. The stock is trading at a PE ratio of 13.46 and has a dividend yield of 2.50%. The stock has a market capital of $7.71 billion.

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