Leidos announces $1.75 million gift to Drake State Community & Technical College

Rhea-AI Summary

Leidos (NYSE: LDOS) announced a $1.75 million donation to Drake State Community & Technical College in Huntsville, Alabama. The gift will fund advanced manufacturing and IT programs, student apprenticeships, campus upgrades, and a new scholarship endowment. Drake State will name its new advanced manufacturing facility the Leidos Advanced Training Complex. This initiative follows Drake State becoming a Leidos subcontractor supporting NASA under the AEGIS contract. The collaboration aligns with Leidos' commitment to supporting STEM education and Historically Black Colleges and Universities.

Positive

• Secured subcontractor relationship with Drake State for NASA's AEGIS contract, expanding business capabilities
• Strategic investment in workforce development and potential future talent pipeline

Negative

• None.

Insights

Financial Analyst

This $1.75 million donation to Drake State, while commendable from a corporate social responsibility perspective, represents a minimal financial impact on Leidos, accounting for less than 0.01% of their market capitalization. However, the strategic value lies in strengthening their workforce pipeline and enhancing their position in government contracting. The subcontractor relationship with Drake State for NASA's AEGIS contract could yield long-term operational benefits through access to skilled technical talent. This investment in STEM education and minority institutions aligns with federal contractor requirements and could positively influence future contract awards, particularly given increased emphasis on diversity initiatives in government procurement.

RESTON, Va., Nov. 13, 2024 /PRNewswire/ -- Leidos (NYSE: LDOS) today announced a $1.75 million donation to Drake State Community & Technical College in Huntsville, Alabama, creating new learning opportunities for students and allowing them to gain hands-on experience with complex technical and manufacturing projects. In recognition of this gift, Drake State will name its new advanced manufacturing facility the Leidos Advanced Training Complex.

"At Leidos, we believe in the transformative power of education, and we are committed to advancing opportunities for underrepresented communities," said Leidos CEO Tom Bell. "Through this collaboration with Drake State, we are not only investing in the future leaders of our industry but also supporting an institution that has a long history of nurturing talent, innovation, and excellence in Black communities. We are proud to contribute to the continued success of Drake State and its remarkable students."

"This generous gift from Leidos represents a powerful investment in the future of Drake State's students, faculty, and the broader community," said Drake State President Dr. Patricia Sims. "The new Leidos Advanced Training Complex will offer students access to hands-on engineering, manufacturing and technology experiences that will equip them for bright futures in aerospace, technology and advanced manufacturing. We thank Tom Bell and Leidos for their support and look forward to collaboration for years to come."

The Leidos gift will help fund advanced manufacturing and IT programs, student apprenticeships, campus technical and infrastructure upgrades, a new scholarship endowment, and faculty development opportunities.

The donation builds on the announcement earlier this year that Drake State has become a Leidos subcontractor in support of NASA, helping provide critical IT solutions and end-user services under the Advanced Enterprise Global IT Solutions (AEGIS) contract.

The collaboration with Drake State continues Leidos' long-standing commitment to supporting STEM (Science, Technology, Engineering, and Mathematics) education and Historically Black Colleges and Universities (HBCUs) and other Minority Serving Institutions (MSIs).

About Leidos

Leidos is a Fortune 500® innovation company rapidly addressing the world's most vexing challenges in national security and health. The company's global workforce of 48,000 collaborates to create smarter technology solutions for customers in heavily regulated industries. Headquartered in Reston, Virginia, Leidos reported annual revenues of approximately $15.4 billion for the fiscal year ended December 29, 2023. For more information, visit www.leidos.com.

About Drake State Community & Technical College

Drake State Community and Technical College offers flexible, affordable technical and university-transfer degrees, industry certification, adult and continuing education, and customized skills training to support and enhance the North Alabama community.

Certain statements in this announcement constitute "forward-looking statements" within the meaning of the rules and regulations of the U.S. Securities and Exchange Commission (SEC). These statements are based on management's current beliefs and expectations and are subject to significant risks and uncertainties. These statements are not guarantees of future results or occurrences. A number of factors could cause our actual results, performance, achievements, or industry results to be different from the results, performance, or achievements expressed or implied by such forward-looking statements. These factors include, but are not limited to, the "Risk Factors" set forth in Leidos' Annual Report on Form 10-K for the fiscal year ended December 29, 2023, and other such filings that Leidos makes with the SEC from time to time. Readers are cautioned not to place undue reliance on such forward-looking statements, which speak only as of the date hereof. Leidos does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements were made.

Contact:

Alyssa Pettus
(571) 526-6743
alyssa.t.pettus@leidos.com

Brandon VerVelde
(571) 526-6257
brandon.p.vervelde@leidos.com

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SOURCE Leidos Holdings, Inc.

FAQ

How much did Leidos (LDOS) donate to Drake State Community & Technical College?

Leidos donated $1.75 million to Drake State Community & Technical College in Huntsville, Alabama.

What will the Leidos (LDOS) donation to Drake State fund?

The donation will fund advanced manufacturing and IT programs, student apprenticeships, campus technical and infrastructure upgrades, a new scholarship endowment, and faculty development opportunities.

What is the name of Drake State's new facility funded by Leidos (LDOS)?

The new advanced manufacturing facility will be named the Leidos Advanced Training Complex.

What is the connection between Leidos (LDOS) and Drake State regarding NASA contracts?

Drake State has become a Leidos subcontractor supporting NASA, providing IT solutions and end-user services under the Advanced Enterprise Global IT Solutions (AEGIS) contract.