Leidos CFO says budget deal's effects will not be immediate

Jim Reagan, the chief financial officer of Leidos, said Tuesday the recently reached bipartisan budget deal represents a "significant step forward," but will take years to reach industry's bottom line.

"It takes about two years for a budget agreement to translate into outlays," he said at a conference hosted by Credit Suisse. "I don't think we as an industry can expect that significant of an uptick for the coming budget year compared to what it might look like two years out."