Exhibit 99.1

SAIC Announces Financial Results for Third Quarter of Fiscal Year 2011

- Revenues: Up 4 percent to $2.87 billion; internal growth 2 percent

- Operating Income: Up 11 percent to $258 million; operating margin 9.0 percent

- Diluted EPS from Continuing Operations: Up 21 percent to $0.41

MCLEAN, Va., Dec. 8, 2010 — SAIC, Inc. (NYSE: SAI), a scientific, engineering, and technology applications company, today announced financial results for the third quarter of fiscal year 2011, which ended October 31, 2010.

“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.

Summary Operating Results

Revenues for the quarter were $2.87 billion, up 4 percent from $2.77 billion in the third quarter of fiscal year 2010. Internal revenue growth, which includes year-over-year performance of acquisitions, represented 2 percent of the consolidated revenue growth for the quarter. Internal revenue growth was driven by increased activity on certain intelligence and command, control and communications contracts.

Operating income for the quarter was $258 million (9.0 percent of revenue), up 11 percent from $233 million (8.4 percent of revenue) in the third quarter of fiscal year 2010. The improvement in operating income was the result of strong program performance, particularly on certain fixed-price contracts, and increased cost recovery on cost reimbursable contracts. Income from continuing operations for the quarter was $154 million, up 14 percent from $135 million in the third quarter of fiscal year 2010.

Diluted earnings per share (EPS) from continuing operations for the quarter were $0.41, up 21 percent from $0.34 in the third quarter of fiscal year 2010, driven by the increase in income from continuing operations and a lower share count compared to the prior year quarter. The diluted share count for the quarter was 360 million, down 7 percent from 388 million in the third quarter of fiscal year 2010, due primarily to share repurchases in prior quarters. Diluted earnings per share, which include discontinued operations, were $0.46 for the quarter, up from $0.34 in the third quarter of fiscal year 2010. Discontinued operations for the quarter benefited from the resolution of certain contingencies related to the sale of the company’s former Telcordia subsidiary.

Cash Generation and Capital Deployment

Cash flow provided by operations for the quarter was $315 million, compared to $250 million in the third quarter of fiscal year 2010. Days sales outstanding were 69 days in the quarter compared to 70 days in the third quarter of fiscal year 2010.

During the quarter, the company used $218 million to fund the acquisition of Reveal Imaging Technologies, Inc., a leading threat detection products and services company serving customers in the transportation safety industry. As of October 31, 2010, the company had $644 million in cash and cash equivalents and $1.1 billion in long-term debt.

New Business Awards

Net business bookings totaled $3.1 billion in the third quarter, representing an increase of 4 percent from the third quarter of the prior year and contributing to a 14 percent increase on a year-to-date basis over the prior year. The book-to-bill ratio was 1.1 for the third quarter and 1.1 for the first nine months of fiscal year 2011. Large, competitive definite delivery contract awards received during the quarter include:

In addition, SAIC also won several ID/IQ contracts that are not included in net bookings. Awards during the quarter include:

The company’s backlog of signed business orders at the end of the third quarter of fiscal year 2011 was $16.3 billion, of which $6.3 billion was funded. As compared to the end of the second quarter of fiscal year 2011, total backlog increased 2 percent while funded backlog increased 9 percent. The negotiated unfunded backlog of $10.0 billion is the estimated amount of revenue to be earned in the future from negotiated contracts for which funding has not been authorized and unexercised priced contract options. Negotiated unfunded backlog does not include any estimate of future potential task orders expected to be awarded under ID/IQ, GSA Schedule or other master agreement contract vehicles.

Forward Guidance

Given its operating performance and outlook through the third quarter of the fiscal year, the company is revising its expectations for internal revenue growth and operating profit margin for fiscal year 2011. The revised fiscal year 2011 guidance is:

With respect to fiscal year 2012, starting on February 1, 2011, the company is simplifying its guidance policy going forward such that the company will provide an outlook of the expected revenue range and the expected range of diluted earnings per share from continuing operations. The company will also provide its expected minimum level of cash flows from continuing operations. The company’s outlook for fiscal year 2012 is:

Fiscal year 2011 and 2012 guidance excludes any future charges from the previously announced expiration of the Scottish Power IT outsourcing contract and excludes the impact of potential future acquisitions.

About SAIC

SAIC is a FORTUNE 500^® scientific, engineering, and technology applications company that uses its deep domain knowledge to solve problems of vital importance to the nation and the world, in national security, energy and the environment, critical infrastructure, and health. The company’s approximately 45,000 employees serve customers in the U.S. Department of Defense, the intelligence community, the U.S. Department of Homeland Security, other U.S. Government civil agencies and selected commercial markets. Headquartered in McLean, Va., SAIC had annual revenues of $10.8 billion for its fiscal year ended January 31, 2010. For more information, visit www.saic.com. SAIC: From Science to Solutions^®

Forward-Looking Statements

Certain statements in this release contain or are based on “forward-looking” information within the meaning of the Private Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by words such as “expects,” “intends,” “plans”, “anticipates,” “believes,” “estimates,” “guidance,” and similar words or phrases. Forward-looking statements in this release include, among others, estimates of future revenues, operating income, earnings, earnings per share, charges, backlog, outstanding shares and cash flows. These statements reflect our belief and assumptions as to future events that may not prove to be accurate. Actual performance and results may differ materially from the guidance and other forward-looking statements made in this release depending on a variety of factors, including: changes in the U.S. Government defense budget or budgetary priorities or delays in contract awards or the U.S. budget process; changes in U.S. Government procurement rules, regulations and practices; our compliance with various U.S. Government and other government procurement rules and regulations; U.S. Government reviews, audits and investigations of our company; our ability to win contracts with the U.S. Government and others; our ability to attract, train and retain skilled employees, including our management team; our ability to maintain relationships with prime contractors, subcontractors and joint venture partners; our ability to obtain required security clearances for our employees; our ability to accurately estimate costs associated with our firm-fixed-price and other contracts; resolution of legal and other disputes with our customers and others or legal compliance issues; our ability to effectively acquire businesses and make investments; our ability to manage risks associated with our international business; our ability to compete with others in the markets in which we operate; and our ability to execute our business plan and long-term management initiatives effectively and to overcome these and other known and unknown risks that we face. These are only some of the factors that may affect the forward-looking statements contained in this release. For further information concerning risks and uncertainties associated with our business, please refer to the filings we make from time to time with the U.S. Securities and Exchange Commission, including the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Legal Proceedings” sections of our latest annual report on Form 10-K and quarterly reports on Form 10-Q, which may be viewed or obtained through the Investor Relations section of our Web site at www.saic.com.

All information in this release is as of December 8, 2010. SAIC expressly disclaims any duty to update the guidance or any other forward-looking statement provided in this release to reflect subsequent events, actual results or changes in the company’s expectations. SAIC also disclaims any duty to comment upon or correct information that may be contained in reports published by investment analysts or others.

CONTACTS:

Investor Relations:

Paul Levi

703-676-2283

Media Relations:

SAIC, INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(Unaudited, in millions, except per share amounts)

SAIC, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited, in millions)

SAIC, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited, in millions)

SAIC, INC.

INTERNAL REVENUE GROWTH PERCENTAGE CALCULATIONS (NON-GAAP RECONCILIATION)

(Unaudited, $ in millions)

In this release, SAIC, Inc. refers to internal revenue growth percentage, which is a non-GAAP financial measure that is reconciled to the most directly comparable GAAP financial measure. The company calculates its internal revenue growth percentage by comparing reported revenue for the current year period to the revenue for the prior year period adjusted to include the actual revenue of acquired businesses for the comparable prior year period before acquisition. This calculation has the effect of adding revenue for the acquired businesses for the comparable prior year period to the company’s prior year period reported revenue.

SAIC, Inc. uses internal revenue growth percentage as an indicator of how successful it is at growing its base business and how successful it is at growing the revenues of the businesses that it acquires. The company believes that the integration of acquired businesses allows current management to leverage business development capabilities, drive internal resource collaboration, utilize access to markets and qualifications, and refine strategies to realize synergies, which benefits both acquired and existing businesses. As a result, the performance of the combined enterprise post-acquisition is an important measurement. In addition, as a means of rewarding the successful integration and growth of acquired businesses, and not acquisitions themselves, incentive compensation for executives and the broader employee population is based, in part, on achievement of revenue targets linked to internal revenue growth.

The limitation of this non-GAAP financial measure as compared to the most directly comparable GAAP financial measure is that internal revenue growth percentage is one of two components of the total revenue growth percentage, which is the most directly comparable GAAP financial measure. The company addresses this limitation by presenting the total revenue growth percentage next to or near disclosures of internal revenue growth percentage. This financial measure is not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with SAIC, Inc.’s consolidated financial statements prepared in accordance with GAAP. The method that the company uses to calculate internal revenue growth percentage is not necessarily comparable to similarly titled financial measures presented by other companies.

Internal revenue growth percentages for the three and nine months ended October 31, 2010 were calculated as follows:

SAIC, INC.

FISCAL YEAR 2011 AND 2012 FORWARD GUIDANCE

EXCLUDING FUTURE CHARGES FROM THE SCOTTISH POWER CONTRACT EXPIRATION

(NON-GAAP FINANCIAL MEASURE)

In this release, SAIC, Inc. refers to expectations of operating income margin improvement, growth in diluted earnings per share (EPS) from continuing operations and diluted EPS from continuing operations excluding future charges from the expiration of the Scottish Power IT outsourcing contract, which are non-GAAP financial measures. The company calculates these measures by excluding the expected future Scottish Power related charges from operating income and diluted EPS from continuing operations, the most directly comparable GAAP financial measures.

During fiscal year 2011 and 2012, the company expects to recognize future charges (pre-tax) of $20 million to $30 million from recognition of losses related to the underfunded pension obligations associated with certain employees whose pension plan assets and obligations are expected to transfer to the successor contractor for the Scottish Power contract and from related costs. Because the timing of this loss is uncertain, the company presents its expectations of operating income margin improvement, growth in diluted EPS from continuing operations and diluted EPS from continuing operations, excluding these expected future charges and is unable to reconcile these amounts to the most directly comparable GAAP financial measures. Excluding these expected future charges has the impact of increasing operating margin improvement, diluted EPS from continuing operations growth and diluted EPS from continuing operations.