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

Leidos Holdings, Inc.

CIK: 1336920 Ticker: LDOS

Exhibit 99.1

SAIC Announces Financial Results for Fourth Quarter and Fiscal Year 2012

Fourth Quarter Results

 

   

Revenues: $2.49 billion; $2.85 billion excluding the CityTime loss provision

 

   

Operating Income: $(111) million; $197 million excluding the CityTime loss provision

 

   

Diluted EPS from Continuing Operations: $(0.49); $0.31 excluding the CityTime loss provision

 

   

Initiation of Quarterly Cash Dividend: $0.12 per share payable on April 30, 2012

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.


The following information was filed by Leidos Holdings, Inc. (LDOS) on Tuesday, March 20, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (parenthetical)
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Stockholders' Equity
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (schedule Of Accumulated Other Comprehensive Loss) (details)
Accumulated Other Comprehensive Loss (tables)
Acquisitions
Acquisitions (schedule Of Acquisition Information) (details)
Acquisitions (schedule Of Purchase Price Allocations Related To The Acquisitions) (details)
Acquisitions (tables)
Business Segment Information
Business Segment Information (schedule Of Segment Reporting Information By Segment) (details)
Business Segment Information (schedule Of Total Revenue Percentages Contributable To Specific Government Agencies) (details)
Business Segment Information (tables)
Composition Of Certain Financial Statement Captions
Composition Of Certain Financial Statement Captions (schedule Of Certain Financial Statement Captions) (details)
Composition Of Certain Financial Statement Captions (tables)
Discontinued Operations
Discontinued Operations (narrative) (details)
Discontinued Operations (schedule Of Operating Results Of Discontinued Operations) (details)
Discontinued Operations (tables)
Earnings Per Share (eps)
Earnings Per Share (eps) (reconciliation Of Income Used In Calculating Earnings Per Share) (details)
Earnings Per Share (eps) (reconciliation Of Weighted Average Number Of Shares Outstanding) (details)
Earnings Per Share (eps) (schedule Of Basic And Diluted Eps) (details)
Earnings Per Share (eps) (schedule Of Stock-based Awards Excluded From Weighted Average Shares Outstanding) (details)
Earnings Per Share (eps) (tables)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (narrative) (details)
Goodwill And Intangible Assets (schedule Of Amortization Expense For Finite-lived Intangible Assets) (details)
Goodwill And Intangible Assets (schedule Of Changes In Goodwill By Segment) (details)
Goodwill And Intangible Assets (schedule Of Intangible Assets Including Estimates Of Assets Acquired) (details)
Goodwill And Intangible Assets (tables)
Income Taxes
Income Taxes (narrative) (details)
Income Taxes (schedule Of A Reconciliation Of The Provision For Income Taxes) (details)
Income Taxes (schedule Of Changes In Unrecognized Tax Benefits) (details)
Income Taxes (schedule Of Deferred Tax Assets (liabilities)) (details)
Income Taxes (schedule Of Net Deferred Tax Assets) (details)
Income Taxes (schedule Of The Provision For Income Taxes) (details)
Income Taxes (tables)
Leases
Leases (narrative) (details)
Leases (schedule Of Future Minimum Lease Commitments And Sublease Receipts Under Non-cancelable Operating Leases) (details)
Leases (schedule Of Rental Expense For Facilities And Equipment) (details)
Leases (tables)
Legal Proceedings
Legal Proceedings (details)
Notes Payable And Long-term Debt
Notes Payable And Long-term Debt (schedule Of Maturities Of Notes Payable And Long-term Debt) (details)
Notes Payable And Long-term Debt (schedule Of Notes Payable And Other Long-term Debt) (details)
Notes Payable And Long-term Debt (tables)
Other Commitments And Contingencies
Other Commitments And Contingencies (details)
Related Party Transactions
Related Party Transactions (details)
Retirement Plans
Retirement Plans (narrative) (details)
Retirement Plans (schedule Of Assumptions Used To Determine Benefit Obligations) (details)
Retirement Plans (schedule Of Assumptions Used To Determine Net Periodic Benefit Cost) (details)
Retirement Plans (schedule Of Fair Value Of Plan Assets) (details)
Retirement Plans (schedule Of Funded Status) (details)
Retirement Plans (schedule Of Net Periodic Benefit Cost) (details)
Retirement Plans (tables)
Revolving Credit Facility
Revolving Credit Facility (details)
Selected Quarterly Financial Data
Selected Quarterly Financial Data (schedule Of Selected Quarterly Financial Data) (details)
Selected Quarterly Financial Data (tables)
Stock-based Compensation
Stock-based Compensation (narrative) (details)
Stock-based Compensation (schedule Of Performance-based Stock Award Activity) (details)
Stock-based Compensation (schedule Of Share-based Compensation Activity Related To Exercise Of Stock Options) (details)
Stock-based Compensation (schedule Of Stock Option Activity) (details)
Stock-based Compensation (schedule Of Stock-based Compensation And Related Tax Benefits Recognized) (details)
Stock-based Compensation (schedule Of The Options Outstanding) (details)
Stock-based Compensation (schedule Of Vesting Stock Award Activity) (details)
Stock-based Compensation (schedule Of Weighted Average Grant-date Fair Value And Assumptions Used) (details)
Stock-based Compensation (tables)
Subsequent Events
Subsequent Events (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (narrative) (details)
Summary Of Significant Accounting Policies (policy)
Summary Of Significant Accounting Policies (schedule Of Depreciation Using Estimated Useful Lives) (details)
Summary Of Significant Accounting Policies (tables)
Supplementary Income Statement And Cash Flow Information
Supplementary Income Statement And Cash Flow Information (schedule Of Supplementary Cash Flow Information) (details)
Supplementary Income Statement And Cash Flow Information (schedule Of Supplementary Income Statement Information) (details)
Supplementary Income Statement And Cash Flow Information (tables)
Ticker: LDOS
CIK: 1336920
Form Type: 10-K Annual Report
Accession Number: 0001193125-12-133697
Submitted to the SEC: Tue Mar 27 2012 11:21:32 AM EST
Accepted by the SEC: Tue Mar 27 2012
Period: Tuesday, January 31, 2012
Industry: Computer Integrated Systems Design

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