Wikipedia's Definition of intelligence:
Intelligence has been defined in many different ways, including the abilities, but not limited to, abstract thought, understanding, self-awareness, communication, reasoning, learning, having emotional knowledge, retaining, planning, and problem solving.
Sure, many people that scored well on the SAT are intelligent, but that doesn't mean that those that didn't score well are not just as intelligent or capable.
The findings more accurately reflect the conclusion that: "Those With High Scores on the SAT Are Stupid"