MICROS reports fiscal 2008 third quarter results record third quarter revenue, net income and EPS

1 May 2008 - 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 2008 third quarter ended March 31, 2008.

FINANCIAL HIGHLIGHTS

* On February 5, 2008, the Company effected a two-for-one stock split of the Company’s common stock in the form of a stock dividend of one share for each share held by shareholders on record as of January 22, 2008. Earnings per share (EPS) below reflect the two-for-one stock split.
* Revenue for the quarter was $237.2 million, an increase of $36.6 million, or 18.3%, over the same period last year.
* Revenue for the nine-month period was $697.6 million, an increase of $133.5 million, or 23.7% over the same period last year.
* GAAP net income for the quarter was $25.1 million, an increase of $5.7 million, or 29.3%, over the same period last year.
* GAAP net income for the nine-month period was $70.5 million, an increase of $18.0 million, or 34.2%, over the same period last year. GAAP diluted EPS, was $0.30 per share, an increase of $0.07, or 30.4%, over the same period last year.
* GAAP diluted EPS for the nine-month period was $0.84, an increase of $0.20, or 31.3%, over the same period last year.
* Non-GAAP financial results, excluding the effect of Financial Accounting Standard (FAS) No. 123 (R), which requires us to record the share-based payment charge, are as follows:
o Non-GAAP net income for the quarter was $28.0 million, an increase of $5.6 million, or 25.1%, over the year ago period.
o Non-GAAP net income for the nine-month period was $80.7 million, an increase of $20.8 million, or 34.7%, over the year ago period.
o Non-GAAP diluted EPS for the quarter was $0.34, an increase of $0.07, or 25.9%, over the year ago period.
o Non-GAAP diluted EPS for the nine-month period was $0.97, an increase of $0.24, or 32.9%, over the year ago period.
* MICROS’s financial results were Company records for the third fiscal quarter.

Tom Giannopoulos, MICROS’s Chairman and CEO, stated: “We are pleased with the financial results for the third quarter and the first nine months of our fiscal year as demand for our products and services remained strong. We look forward to the fourth quarter and beyond as we continue certain large deployments and prepare for the release of new, innovative products.”

Revenue guidance for the fiscal year 2008 ending June 30, 2008 is projected to be more than $930.0 million. This guidance is an increase from the August 2007 revenue guidance of $910.0 million to $915.0 million. Earnings guidance for the fiscal year 2008 ending June 30, 2008 is for non-GAAP net income of at least $111.0 million, excluding the projected share-based payment charge, or non-GAAP earnings per diluted share of $1.32. Guidance for GAAP net income is at least $97.5 million, or earnings per diluted share of $1.16.

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 above where MICROS provides guidance for its fiscal year ending June 30, 2008. 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, such as hurricanes and tsunamis; 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 April 30, 2008. 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.