SAIC Reports Mixed Earnings

SAIC, Inc. SAI reports Q3 earnings of $0.46 versus expectations of $0.35. SAIC, Inc. reports revenues of $2.87 billion versus estimates of $2.93 billion. "Our employees continue to deliver effectively in support of mission critical customer programs. Strong program execution and improved returns on fixed-price contracts contributed to operating profit and earnings per share growth over the same period last year," said Walt Havenstein, SAIC chief executive officer. The company sees revenue growth of zero percent to two percent compared to fiscal year 2010 for 2011, operating income margin up 30 to 50 basis points over fiscal year 2010, and diluted earnings per share from continuing operations up 14 percent to 18 percent over fiscal year 2010. Shares of SAI are down nearly 5% in after hours trading, losing 76 cents to $15.45.