NewswireToday - /newswire/ -
Columbia, MD, United States, 2011/04/28 - MICROS Systems, Inc. (Nasdaq: MCRS), a leading supplier of information systems to the hospitality and retail industries, today announced the results for its fiscal 2011 third quarter ended March 31. NASDAQ: MCRS
• Revenue for the quarter was $253.2 million, an increase of $24.1 million, or 10.5% over the same period last year.
• Revenue for the nine-month period was $733.7 million, an increase of $67.6 million, or 10.2% over the same period last year.
• GAAP net income for the quarter was $38.6 million, an increase of $8.4 million, or 27.8% over the same period last year. GAAP diluted earnings per share (EPS) was $0.47, an increase of $0.10, or 27.0% over the same period last year.
• GAAP net income for the nine-month period was $102.5 million, an increase of $22.1 million, or 27.4% over the same period last year. GAAP diluted EPS was $1.24, an increase of $0.25, or 25.3% over the year ago same period.
• Non-GAAP financial results, excluding the effect of charges for stock options, an impairment charge for auction rate securities and a charge for a lawsuit are as follows:
o Non-GAAP net income for the quarter was $40.3 million, an increase of $8.6 million, or 27.0% over the same period last year.
o Non-GAAP net income for the nine-month period was $110.6 million, an increase of $23.2 million, or 26.5% over the year ago same period.
o Non-GAAP diluted EPS for the quarter was $0.49, an increase of $0.10, or 25.6% over the year ago same period.
o Non-GAAP diluted EPS for the nine-month period was $1.34, an increase of $0.26, or 24.1% over the year ago same period.
MICROS’s revenue, net income and EPS results were Company records for a third fiscal quarter.
Tom Giannopoulos, MICROS’s Chairman and CEO, stated: “We are very pleased with our record financial results for the quarter and year-to-date. We look forward to a strong fourth quarter and a successful conclusion to our fiscal year 2011.”
MICROS’s financial guidance for fiscal year 2011 for revenue remains between $1 billion and $1.005 billion while the net income guidance (Non-GAAP) is increased to between $151.0 million and $152.0 million, up from the previous guidance of $145.0 million to $147.0 million.
MICROS’s stock is listed on NASDAQ OMX’s Global Select under the symbol MCRS. Some of the statements contained herein not based on historic facts are forward-looking statements that involve risks and uncertainties. MICROS is subject to, among others, the following uncertainties and risks: product demand and market acceptance; impact of competitive products and pricing on margins; product development delays and technological difficulties; controlling expenses as MICROS continues to expand; the ability to obtain on acceptable terms the right to incorporate in MICROS’s products and services technology patented by others; the risk that there are actual or perceived security vulnerabilities in MICROS’s products; adverse results in legal disputes resulting in liabilities that exceed reserves; unanticipated tax liabilities; the effects of terrorist activity and armed conflict; the effects of major environmental disasters, such as hurricanes and tsunamis; weakening in general economic conditions that adversely affect demand for computer hardware or software; and currency fluctuations.
All information in this release is as of April 28, 2011. MICROS undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in MICROS’s expectations.
For further information regarding risks and uncertainties associated with MICROS’s business, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Business and Investment Risks” sections of MICROS’s SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q, copies of which may be obtained by contacting MICROS’s investor relations department at 443-285-8112 or at micros.com/.