Columbia, MD June 13, 2000 MICROS Systems, Inc. (NASDAQ:MCRS), a leading supplier of information systems to the hospitality industry, today announced that it expects revenue and earnings for the current FY2000 fourth fiscal quarter to be below analyst expectations. Revenue for the quarter ending June 30, 2000 is expected to be in the range of $80.0 to $85.0 million. Net income is expected to be a loss in the range of $2.6 to $3.5 million. Earnings per share are expected to be a loss in the range of $0.15 to $0.20 per share.
Tom Giannopoulos, MICROS's President and Chief Executive Officer stated, "After four years of strong revenue and earnings growth, we are experiencing a slowdown in customer orders due in part to the after effect of Y2K and longer than normal sales cycles of information technology purchases. We believe the slowdown to be temporary as evidenced by the high level of major account customer negotiations underway for both our hotel and restaurant products. This high degree of interest gives us confidence that our strategic growth initiatives are sound and that we are well positioned for the future."
MICROS tentatively plans to release its fourth quarter and FY 2000 fiscal results on Wednesday, August 30, 2000.
MICROS will hold a conference call at 5:00 PM Eastern Standard Time, today, June 13, 2000, at which time it will answer questions from the investment community. The dial in number is 1-888-209-3786 (U.S. and Canada) and 212-271-4775 (International) with a reservation number of 1553-7359. The call will be available for replay through June 19, 7:00 PM Eastern Standard Time, by dialing 1-800-633-8284 (U.S. and Canada) and 858-812-6440 (International) with no passcode required. The conference call is also available over the Internet by accessing http://www.vcall.com.
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.