COLUMBIA, Md., Oct. 26 / MICROS Systems, Inc.
[NASDAQ: MCRS]
, a leading supplier of information systems to the hospitality industry, today announced the results for its fiscal 2001 first quarter ended September 30, 2000. Revenue for the quarter was $74.0 million with a net loss of $0.9 million, or a $0.05 loss per diluted share. Last year's first quarter revenue was $87.4 million with net income of $5.1 million, and earnings per share, on a diluted basis, of $0.30.
Tom Giannopoulos, MICROS's President and Chief Executive Officer, stated: "Our first quarter was in line with expectations. As anticipated, results were below last year's first quarter due to the continued slowdown in information technology purchases and the weakened Euro. Notwithstanding, we are pleased with our progress in signing several customer contracts in the quarter that will result in an increased revenue stream in calendar year 2001 and beyond." MICROS's management guidance for the 2001 fiscal year remains for a revenue range between $370 million to $380 million and a net income range between $18 million to $20 million. Second fiscal quarter guidance is for revenue between $80 million and $83 million and net income between $0.4 million to $1.2 million. 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. Some of those uncertainties are: product demand and market acceptance; adverse economic factors; impact of competitive products and pricing on margins; product development delays and technological difficulties; and aggressively controlling expenses. Other risks are indicated in the MICROS Form 10-K and other filings with the Securities and Exchange Commission. MICROS assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
MICROS SYSTEMS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited - in thousands, except per share amounts)
First Quarter Ended September 30,
2000 1999
Revenue:
Hardware and software $39,251 $53,383
Service 34,758 34,044
Total revenue 74,009 87,427
Cost of sales:
Hardware and software 19,994 29,445
Service 18,150 16,674
Total cost of sales 38,144 46,119
Gross margin 35,865 41,308
Selling, general and administrative expenses 29,927 24,869
Research and development expenses 4,133 3,774
Depreciation and amortization 3,315 2,656
Total operating expenses 37,375 31,299
Income (loss) from operations (1,510) 10,009
Non-operating expense, net (22) (972)
Income (loss) before taxes,
minority interest, and equity in net
earnings of affiliates (1,532) 9,037
Income taxes (621) 3,656
Income (loss) before minority
interest and equity in net earnings
of affiliates (911) 5,381
Minority interest and equity in
net earnings of affiliates (8) (243)
Net income (loss) ($919) $5,138
Net income (loss) per common share:
Basic ($0.05) $0.32
Diluted ($0.05) $0.30
Weighted-average number of shares
outstanding:
Basic 17,344 16,290
Diluted 17,344 17,373
Contact
Louise J. Casamento
Director Of Marketing
United States - Columbia, Email: lcasamento@micros.com
Organization
Oracle Hospitality
https://www.oracle.com/industries/hospitality/index.html
7031 Columbia Gateway Drive
USA
- Columbia, MD 21046-2289
Tollfree: (866) 287-4736
Email: oraclehosp_ww@oracle.com
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