SAIC, Inc. Reports Earnings; Shares Jump (SAI)

SAIC, Inc. SAI reports Q2 EPS of $0.42 versus estimates of $0.33. SAIC, Inc. reports revenues of $2.79 billion versus estimates of $2.85 billion. Given its operating and business development performance through the second quarter of the fiscal year, including the $56 million royalty receipt, the company expects its fiscal year 2011 results to be as follows: • Growing revenue internally in the 3 percent to 6 percent range; • Improving operating income margin by 20 to 40 basis points; and • Growing diluted earnings per share from continuing operations from 14 percent to 18 percent. "We continue to balance our resource allocation among internal growth efforts, merger and acquisition activity, and share buybacks to promote long-term growth and increased shareholder value," said Walt Havenstein, SAIC chief executive officer. He added, "I am pleased by the new business opportunities arising from stronger bookings year-to-date, our record high number of submitted proposals awaiting decision, and also the prospects of Reveal Imaging Technologies, Inc., which we acquired just after the end of the quarter." Shares of SAIC are higher in the after-hours by 3.97%.