SAIC boosts annual revenues 8 percent

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SAIC reported an 8 percent increase in last year’s revenues primarily from growth in military logistics and health-care information technology and defense engineering and IT.

The company reported $10.8 billion in revenue for fiscal year 2010, compared with $10.1 billion the prior year. Profit rose 10 percent to $497 million.

During the fourth quarter, which ended Jan. 31, revenues increased 7 percent to $2.7 billion, compared with $2.5 billion during the same period a year ago.

The company reported new business bookings of $1.6 billion for the quarter and $9.5 billion for the year.

At the end of fiscal year 2010, the company had backlog business orders of $15.6 billion, of which $5.3 billion was funded. The total backlog for the year fell 6 percent compared to the previous year.

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