• Revenue for the fiscal 2011 fourth quarter was $274.1 million, an increase of $25.9 million, or 10.4% over the same period last year.
• Revenue for the fiscal year was $1,007.9 million, an increase of $93.5 million, or 10.2%, over the same period last year.
• GAAP net income for the quarter was $41.5 million, an increase of $7.7 million, or 22.6% over the same period last year.
• GAAP net income for the fiscal year was $144.1 million, an increase of $29.7 million, or 26.0%, over the same period last year.
• GAAP diluted earnings per share (EPS) for the quarter was $0.50, an increase of $0.08, or 19%, over the same period last year.
• GAAP diluted EPS for the fiscal year was $1.74, an increase of $0.33, or 23.4%, over the same period last year.
During the fourth quarter, we recorded an impairment charge of $4.2 million related to our investments in auction rate securities.
• Non-GAAP financial results, excluding the effect of charges for stock options, the investment impairment, and a charge for a lawsuit incurred in the second fiscal quarter, are as follows:
o Non-GAAP net income for the quarter was $47.7 million, an increase of $8.0 million, or 20%, over the same period last year.
o Non-GAAP net income for the fiscal year was $158.4 million, an increase of $31.2 million, or 24.5%, over the same period last year.
o Non-GAAP diluted EPS for the quarter was $0.58, an increase of $0.09, or 18.4%, over the same period last year.
o Non-GAAP diluted EPS for the fiscal year $1.92, an increase of $0.35, or 22.3%, over the same period last year.
The financial results for the fourth fiscal quarter exceeded consensus expectations. The revenue, operating income, net income and EPS for the quarter and fiscal year were records for MICROS.
Tom Giannopoulos, MICROS’s Chairman and CEO, stated,“We are very pleased with our excellent results, in which for the first time in our history we exceeded the $1 Billion annual sales milestone, and achieved record revenue, operating income, net income and EPS for both the quarter and the fiscal year. Our strong and expanding portfolio of products and services provides us with a great foundation for continued profitable growth.”
MICROS’s financial guidance for fiscal 2012 is for revenue of $1,111, 000 and Non-GAAP EPS of $2.09.
MICROS’s stock is traded through NASDAQ 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; 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 August 25, 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 443-285-8059 or at MICROS’s website at micros.com/.