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Micros Systems 4Q net income rises 23 percent

Thu, 08/25/2011 - 2:05pm
The Associated Press

Micros Systems Inc., which provides computer systems to hotels and restaurants, said its fiscal fourth-quarter profit rose nearly 23 percent as revenue in all three of its business segments climbed.

The Columbia, Md.-based company posted net income of $41.5 million, or 50 cents per share, compared with $33.9 million, or 42 cents per share, a year ago.

The results from the latest quarter included an impairment charge of $4.2 million related to investments in auction rate securities.

Excluding that and other one-time charges, the company said it earned $47.4 million, or 58 cents per share, in this year's fiscal fourth quarter.

Revenue rose 10 percent to $274.1 million led by service revenue, which rose 12 percent. Hardware sales rose 9.5 percent and software was up 2.9 percent.

Analysts surveyed by FactSet expected the company to post fourth-quarter net income of 49 cents a share on revenue of $271.7 million

After the earnings report was issued, Micros Systems shares rose $1.73, or 4.2 percent, to $42.75 in extended trading.

For the year, the company posted net income of $144.1 million, or $1.74 per share. That was up from $114.4 million, or $1.41 per share, a year ago. Excluding one-time charges, results were $1.92 per share, up from $1.57 per share a year ago. Revenue climbed to $1.01 billion from $914.3 million.

The company said it expects its fiscal 2012 revenue to climb to $1.11 billion and net income excluding one-time items of $2.09.

Analysts expect revenue of $1.11 billion and adjusted earnings of $2.06.

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