Exhibit 99.1

SAIC Announces Financial Results for Second Quarter of Fiscal Year 2011

MCLEAN, Va., Sept. 1, 2010 — SAIC, Inc. (NYSE: SAI), a scientific, engineering, and technology applications company, today announced financial results for the second quarter of fiscal year 2011, which ended July 31, 2010.

“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. “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.”

Summary Operating Results

Revenues for the quarter were $2.79 billion, up 2 percent from $2.75 billion in the second quarter of fiscal year 2010. Internal revenue growth contracted 1 percentage point for the quarter. Operating income for the quarter was $273 million (9.8 percent of revenue), up 24 percent from $221 million (8.0 percent of revenue) in the second quarter of fiscal year 2010. Revenues and operating income for the quarter were favorably impacted by $56 million in revenues received in connection with royalty rights SAIC obtained in the transfer of certain patents to VirnetX, Inc. and the subsequent settlement of litigation against Microsoft Corporation relating to those patents. Income from continuing operations for the quarter was $158 million, up 26 percent from $125 million in the second quarter of fiscal year 2010.

Diluted earnings per share (EPS) from continuing operations for the quarter were $0.42, up 35 percent from $0.31 in the second 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 365 million, down 6 percent from 388 million in the second quarter of fiscal year 2010, due primarily to share repurchases. Diluted earnings per share, which include discontinued operations, were $0.50 for the quarter, up from $0.31 in the second quarter of fiscal year 2010. Discontinued operations for the quarter benefited from the settlement of an arbitration proceeding between the company’s former Telcordia subsidiary and Telkom South Africa, as SAIC retained certain rights to proceeds from that arbitration in the sale of the subsidiary.

Cash Generation and Capital Deployment

Cash flows provided by operations for the quarter were $111 million (or .7 times income from continuing operations), compared to $109 million in the second quarter of fiscal year 2010. Days sales outstanding were 65 days in the quarter compared to 64 days in the second quarter of fiscal 2010. Cash flows provided by operations benefited from the $56 million royalty receipt, which was more than offset by payments of income taxes and interest concentrated in the second quarter. Cash flows from discontinued operations of $82 million for the quarter include the proceeds from the Telkom South Africa settlement. The payments of related obligations to tax authorities and to SAIC’s former Telcordia subsidiary are expected to be made in upcoming quarters.

During the quarter, the company used $154 million to repurchase approximately 8.7 million shares under the company’s stock repurchase program. As of July 31, 2010, the company had $604 million in cash and cash equivalents and $1.1 billion in long-term debt.

Mark W. Sopp, SAIC chief financial officer commented, “We are pleased with the successful conclusions reached in both the royalty matter and the long-standing dispute with Telkom South Africa. We’ll use these cash proceeds to fund ongoing growth initiatives consistent with our long-term strategy.”

New Business Awards

Net business bookings totaled $2.7 billion in the second quarter, representing an increase of 19 percent from the second quarter of the prior year and contributing to a 21 percent increase on a year-to-date basis over the prior year. The book-to-bill ratio was 1.0 for the second quarter and 1.1 for the first six months of fiscal year 2011. Net bookings are calculated as the current period’s ending backlog plus the current period’s revenues less the prior period’s ending backlog and less the backlog obtained in acquisitions during the period.

Large, competitive definite delivery contract awards received during the quarter include:

In addition, SAIC also won several indefinite-delivery/indefinite-quantity (IDIQ) contracts and Blanket Purchase Agreement (BPA) 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 second quarter of fiscal year 2011 was $16.0 billion, of which $5.8 billion was funded. As compared to the end of the first quarter of fiscal year 2011, total backlog was largely unchanged while funded backlog increased 3 percent. The negotiated unfunded backlog of $10.2 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 IDIQ, GSA Schedule or other master agreement contract vehicles.

Forward Guidance

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:

These operating margin and diluted earnings per share expectations exclude the charges from the previously announced expiration of the Scottish Power IT outsourcing contract, currently estimated to be in the range of $20 to $30 million.

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, 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; the outcome of 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 successfully 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 September 1, 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

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 six months ended July 31, 2010 were calculated as follows:

SAIC, INC.

FISCAL YEAR 2011 GUIDANCE AND YEAR-TO-DATE RESULTS EXCLUDING CHARGES FROM

SCOTTISH POWER CONTRACT EXPIRATION (NON-GAAP RECONCILIATION)

(Unaudited, $ in millions, except per share amounts)

In this release, SAIC, Inc. refers to year-to-date and expectations of operating income margin improvement and growth in diluted earnings per share (EPS) from continuing operations excluding 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 year-to-date and expected Scottish Power charges from operating income and diluted EPS from continuing operations, the most directly comparable GAAP financial measures. Those reconciliations, which are provided below, have the impact of decreasing operating margin improvement and diluted EPS from continuing operations growth.

The company uses these non-GAAP financial measures to provide investors with visibility to how it expects its business to perform excluding the impact of the year-to-date and expected charges arising from the expiration of the Scottish Power IT Outsourcing Contract. The limitation of these non-GAAP financial measures as compared to the most directly comparable GAAP financial measures is that the company has incurred and expects to incur charges associated with this contract expiration which are not reflected in these non-GAAP financial measures. The company addresses this limitation by presenting this reconciliation to the most directly comparable GAAP financial measures. These financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in connection with the company’s consolidated financial statements prepared in accordance with GAAP.