SAIC Announces Financial Results for Fourth Quarter and Fiscal Year 2013

 


 

SAIC, INC.


DEFENSE SOLUTIONS SEGMENT


CONDENSED CONSOLIDATED INCOME STATEMENT EXCLUDING THE CITYTIME LOSS PROVISION


(NON-GAAP RECONCILIATION)


(Unaudited, $ in millions)



In this release, SAIC, Inc. refers to revenues,  operating income (loss) and operating margin of the Defense Solutions segment excluding the CityTime loss provision, which are non-GAAP financial measures. The Company calculates these measures by excluding the CityTime loss provision from Defense Solutions revenues, operating income (loss), and operating margin, the most directly comparable GAAP financial measures.



The Company uses these non-GAAP financial measures to provide investors with visibility to how its business performed excluding the CityTime loss provision. The limitation of these non-GAAP financial measures as compared to the most directly comparable GAAP financial measures is that the Company has recorded the CityTime loss provision which is 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.













Three Months Ended January 31, 2012








As Reported


City Time Loss
Provision


As Adjusted





Revenues


$             852


$              358


$          1,210





Operating income (loss)


$            (216)


$              308


$               92





Operating margin


-25.4%




7.6%
































Year Ended January 31, 2012








As Reported


City Time Loss
Provision


As Adjusted





Revenues


$          4,191


$              410


$          4,601





Operating income (loss)


$            (171)


$              540


$             369





Operating margin


-4.1%




8.0%





























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