Saic, Inc. (LDOS) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, January 31, 2012

Exhibit 99.1

SAIC Announces Financial Results for Fourth Quarter and Fiscal Year 2012

Fourth Quarter Results

MCLEAN, Va., March 20, 2012 — SAIC, Inc. (NYSE: SAI), a scientific, engineering, and technology applications company, today announced financial results for the fourth quarter and fiscal year 2012, which ended January 31, 2012.

In addition, the Company announced the initiation of a quarterly dividend at $0.12 per share, the first payment of which will be on April 30, 2012 for stockholders of record on April 15, 2012.

“Our decision to initiate a quarterly dividend reflects our confidence in SAIC’s financial strength and our commitment to deploying capital to maximize shareholder value for the long-term. The dividend will augment our capital deployment strategy, which will continue to include strategic acquisitions and share repurchases while retaining an attractive credit rating profile,” said John P. Jumper, president and chief executive officer.

Summary Results

As a result of the previously announced CityTime settlement, the Company recorded an additional $308 million loss provision during the fourth quarter of fiscal 2012. Estimates made in the third quarter ended October 31, 2011 were adjusted during the fourth quarter to reflect the final settlement. Fourth quarter revenues and selling, general and administrative expenses were reduced by $358 million and $50 million, respectively, to reflect the final settlement for the fiscal year ended January 31, 2012. For the full fiscal year, the CityTime loss provision totaled $540 million, which was reflected as a $410 million reduction in revenue and a $130 million charge to selling, general and administrative expenses.

Revenues for the fourth quarter of fiscal 2012 were $2.49 billion. Full fiscal year revenues were $10.59 billion. Revenues excluding the CityTime loss provision were $2.85 billion for the fourth quarter, reflecting 3 percent internal revenue growth, and $11.00 billion for the fiscal year.