SAIC Inc.
FY 2007 review
April 11, 2007:
SAIC, Inc. (NYSE:SAI) reported this week a 10% growth in revenue
for FY 2007 (ending January 2007) and 19% increase in
operating income, compared to last year. Revenues for
the year were $8.3 billion, up 7% from $7.8 billion in fiscal
year 2006. The company's backlog of signed business orders at
the end of fiscal year 2007 was over $15.1 billion.
For FY 2008 the company projects a slight
increase to $8.70 - $9.00 billions in revenue, with
cash flow from operations maintained at $450 millions.
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Company's revenue, diluted earnings per share,
and cash flow from operations exceeded the top end of the guidance
ranges provided by the company on its previous earnings release.
"The growth initiatives and margin expansion plans we described
during our recent initial public offering (IPO) are beginning
to show results." Commented Chairman and CEO Said Ken Dahlberg.
SAIC provides scientific, engineering, systems
integration and technical services and solutions to all branches
of the U.S. military, agencies of the Department of Defense,
the intelligence community, the U.S. Department of Homeland
Security and other U.S. Government civil agencies, as well as
to customers in selected commercial markets. The company has
a workforce of more than 44,000 employees in over 150 cities
worldwide.
In the past quarter SAIC completed two acquisitions
– integrating Applied Marine Technology, Inc. (AMTI),
strengthening SAIC's position in the field of Global War On
Terrorism (GWOT). With 500 people experienced in training, system
engineering, system prototyping and integration, AMTI specializes
in special warfare, intelligence and homeland security. Another
investment was made in the field of underwater and subterranean
warfare, with the acquisition of AETC Inc., which has unique
expertise in engineering, signal processing and development
of acoustic, non-acoustic, radar, and electromagnetic remote
sensing techniques and systems for underwater, underground,
and above-ground applications.
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