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MICROS Systems' CEO Discusses F3Q12 Results - Earnings Call Transcript

Stocks in this article: MCRS

MICROS undertakes no duty to update any forward-looking statements to conform to actual results or changes in MICROS' expectations. Other risks and uncertainties associated with MICROS' business are identified in the management's discussion and analysis of financial condition results of operations and business and investment risk sections of MICROS' SEC filings. Tom?

Tom Giannopoulos

Okay. Peter, thank you. Looking at the financial results from the press release for the quarter and nine months year-to-date as far as revenue was concerned, we came in at for the quarter at $278.044 million versus last year’s $253.193 million. That’s a year-to-year growth of 9.82%. You can add some there $3.8 million, the result of negative impact of the exchange ratios. And then some couple of $1 million of license revenue that was converted to SaaS, then we could have had an increase quarter-to-quarter of about 12%.

From our point of view it’s an excellent performance, even though the economic conditions have not really improved. Year-to-date revenue increased to $805.005 million versus $733 million last year. That’s a 9.71% growth and if you adjust for the foreign exchange you would have been of to 10%. Gross margin for the quarter is $152.593 million, or 54.88. For the nine months gross margin came in at 55.83% for fiscal year 2012 versus 55.23% which was probably the fiscal year 2011 for the nine months. A slight improvement over last year.

Operating income for the nine months has improved to $176 million which is 21.87% from $154 million, 21.5%. An improvement on the operating income percentage and dollars as well. Still on a non-GAAP basis, and year-to-year and to first nine months, net income and EPS improved. Net income improved from $110 million to $126 million, that’s 14.75%. And EPS improved from $1.34 to $1.55 which is a plus 15 point, 6%-7%.

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