MCRS » Topics » MICROS REPORTS FISCAL 2007 SECOND QUARTER RESULTS : REVENUE, NET INCOME AND EPS EXCEED EXPECTATIONS; RECORD SECOND QUARTER REVENUE, NET INCOME AND EPS

This excerpt taken from the MCRS 8-K filed Jan 29, 2007.

MICROS REPORTS FISCAL 2007 SECOND QUARTER RESULTS:
REVENUE, NET INCOME AND EPS EXCEED EXPECTATIONS;
RECORD SECOND QUARTER REVENUE, NET INCOME AND EPS

Columbia, Maryland ... MICROS Systems, Inc. (Nasdaq:MCRS), a leading supplier of information systems to the hospitality and retail industries, today announced the results for its fiscal 2007 second quarter ended December 31, 2006.  

 

FINANCIAL HIGHLIGHTS

 

 

 

-Revenue for the quarter was $189.9 million, an increase of $25.9 million, or 15.8%, over the same period last year.  Revenue for the six-month period was $363.6 million, an increase of $47.6 million, or 15.1% over the same period last year.  Revenue exceeded consensus expectations and was above MICROS’s second quarter guidance.

 

 

 

-Net income for the quarter was $18.0 million, an increase of $3.8 million, or 26.9% over the same period last year.  Net income for the six-month period was $33.1 million, an increase of $6.6 million, or 24.7% over the same period last year.  Without giving effect to Financial Accounting Standard (FAS) No. 123 (R), “Share-based Payments”, net income for the quarter, excluding the share-based payment charge (non-GAAP measure), was $20.2 million, an increase of $4.4 million, or 27.9% over the year ago period.  Net income for the six-month period, before the share-based payment charge, was $37.5 million, an increase of $8.1 million, or 27.6% over the year ago period.

 

 

 

-Diluted earnings per share (EPS) for the quarter was $0.44 per share, an increase of $0.09 per share, or 25.7% over the same period last year.   Diluted EPS for the six-month period was $0.81 per share, an increase of $0.16 per share, or 24.6% over the same period last year.  Without giving effect to FAS No. 123 (R), diluted EPS for the quarter, excluding the share-based payment charge (non-GAAP measure), was $0.49 per share, an increase of $0.10 per share, or 25.6% over year ago period.  Diluted EPS for the six-month period, before the share-based payment charge, was $0.92 per share, an increase of $0.20, or 27.8% over the year ago period.




 

-Net income and diluted EPS, before and after the share-based payment charge, exceeded consensus expectations and were above second quarter guidance.

 

 

 

-MICROS’s financial results were Company records for the second fiscal quarter.

Tom Giannopoulos, MICROS’s Chairman and CEO, stated, “We are very pleased with the financial results for the quarter and the first six months of the fiscal year.  We continue to exceed our financial targets and continue to win new contracts which will help drive future growth.”

MICROS’s guidance for its fiscal 2007 third quarter ending March 31, 2007 is for revenue between $196.0 and $199.0 million, and net income between $19.1 million and $20.2 million, or diluted EPS of $0.46 to $0.49.   Guidance for net income, excluding the projected share-based payment charge for the third quarter, is between $21.5 million and $22.5 million, or non-GAAP diluted EPS of $0.52 to $0.54.

Guidance for the fiscal 2007 year ending June 30, 2007 remains the same at revenue between $778.0 million and $781.0 million; net income between $78.3 million and $80.3 million, or diluted EPS of $1.90 to $1.94; a non-GAAP net income, excluding the currently projected share-based payment charge for the fiscal year, between $86.5 million and $88.7 million, or non-GAAP diluted EPS between $2.10 and $2.14.

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.  An example of a forward looking statement includes the statements in the paragraphs where MICROS provides guidance for its fiscal 2007 third quarter ending March 31, 2007, and its fiscal 2007 year ending June 30, 2007, and Mr. Giannopoulos’s quote.  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 January 25, 2007.  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 http://www.micros.com.



News

 

 

micros®

Release Date: January 25, 2007

 

Contact:

Peter J. Rogers, Jr.

 

 

 

SVP, Investor Relations

 

 

 

443-285-8059

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