This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

MICROS Systems' CEO Discusses Q4 Results - Earnings Call Transcript

Other risks and uncertainties associated with MICROS business are identified in the management's discussion analysis of financial condition, results of operations and business for investment risk sections of MICROS's SEC filings. Tom?

Tom Giannopoulos

Thanks, Peter. Our financial results for the quarter and the fiscal year were outstanding under any circumstances, but especially when you consider the global events and turmoil of the past 12 months.

Specifically in looking at the numbers from the press release this afternoon, revenue for the quarter grew from $274 million to $302 million, plus 10%, 10% plus 0.36%, which is consistent with our goal of upper single-digit revenue growth, while increasing profitability. This is what we have said, we want to do these during these difficult business times.

Revenue for the year grew from $1,007,859 to $1,107,531 a 9.9% growth. Gross margin was an excellent 55.51% for the year 614,805. Record income from operations of over $250 million, which is 22.7%, all the way down to the bottom of the page or net income on non-GAAP basis increased by 15.3% from $158 million to $182,650 and EPS also increased by 15.60% from $1.92 to $2.22.

I will ask Cindy to give you the additional details on cash and other numbers. Cindy?

Cindy Russo

Thanks, Tom. The highlights of the balance sheet for the quarter and the year are as follows. MICROS had $616.5 million of cash and investments at June 30, 2012, negating the adverse impact of foreign exchange amounting to $60.5 million, and our recent purchase of Torex Retail at $258.2 million. This amounts to an increase of $108.7 million, or 13.1% over the prior year balance. In fiscal 2012, MICROS generated $180.2 million from operating activities while receiving $99.7 million from the net maturities of investments.

On the financing end, the company received $19.4 million from the exercise of stock options and the related tax benefit and spent $59.2 million on the repurchase of common stock. During the fiscal year, we purchased a total of 1.3 million shares of which 110,000 were purchased in the fourth quarter. Thus far in Q1, MICROS has repurchased 200,000 shares of common stock at an average price of $47.30 per share leaving board approval for an additional $1.4 million.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs