NASDAQ: MCRS 0 (00/00/0000 00:00am)


Fiscal Year

Fiscal Year Ended June 30
all numbers in thousands, except share data and percents

Most recent eight fiscal quarters
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MICROS Systems, Inc. FINANCIAL SUMMARY
8.25.2011 ($000 except share amounts)
% Change
Income Statement Data 2011 vs. 2010 FY2011 FY2010 FY2009 FY2008 FY2007 FY2006 FY2005 FY2004 FY2003 FY2002
Hardware Revenue 5.7% $199,003 $188,333 $209,834 $265,964 $233,704 $215,002 $191,785 $151,640 $137,013 $134,122
Software Revenue 7.0% $127,123 $118,788 $132,912 $158,539 $132,051 $119,093 $106,370 $82,486 $67,614 $57,175
Service Revenue 12.3% $681,733 $607,198 $564,979 $529,447 $419,218 $344,138 $299,109 $253,317 $201,230 $181,196
Total Revenue 10.2% $1,007,859 $914,319 $907,725 $953,950 $784,973 $678,233 $597,264 $487,443 $405,857 $372,493
Memo Item:    
Maintenance Revenue (included in Service Revenue) 10.5% $392,073 $354,679 $311,174 $291,538 $233,654 $190,044 $164,906 $140,728 $113,274 $99,467
   
Hardware Gross Profit 5.1% $72,336 $68,844 $74,800 $94,185 $84,367 $69,384 $64,436 $46,133 $38,976 $38,116
Hardware Gross Profit % -0.3Pts. 36.3% 36.6% 35.6% 35.4% 36.1% 32.3% 33.6% 30.4% 28.4% 28.4%
Software Gross Profit 13.8% $105,923 $93,057 $107,342 $125,403 $102,951 $95,885 $83,548 $66,114 $52,213 $46,933
Software Gross Profit % 5.0 Pts. 83.3% 78.3% 80.8% 79.1% 78.0% 80.5% 78.5% 80.2% 77.2% 82.1%
Service Gross Profit 12.4% $381,810 $339,580 $300,099 $281,490 $223,974 $180,115 $153,800 $136,862 $107,370 $92,088
Service Gross Profit % +0.1 Pts. 56.0% 55.9% 53.1% 53.2% 53.4% 52.3% 51.4% 54.0% 53.4% 50.8%
Total Gross Profit 11.7% $560,069 $501,481 $482,241 $501,078 $411,292 $345,384 $301,784 $249,109 $198,559 $177,137
   
Gross Profit % +0.8 Pts. 55.6% 54.8% 53.1% 52.5% 52.4% 50.9% 50.5% 51.1% 48.9% 47.6%
   
Operating Expenses    
Selling, General and Administrative 3.8% $272,229 $262,146 $264,238 $289,686 $240,299 $207,690 $185,398 $155,235 $132,601 $123,011
Legral Accrual   $3,000
Research and Development 8.5% $45,248 $41,718 $41,838 $39,113 $33,132 $26,871 $27,399 $27,209 $18,748 $19,320
Depreciation and Amortization -3.0% $16,790 $17,311 $17,544 $15,143 $12,721 $10,459 $10,112 $9,831 $8,888 $16,042
Restructuring  and Related Costs - $0 $0 $3,094
Stock Option Expense 0.1% $12,343 $12,333 $14,692 $18,245 $14,749 $9,386 $0 $0 $0 $0
Total Operating Expenses 4.8% $349,610 $333,508 $341,406 $362,187 $300,901 $254,406 $222,909 $192,275 $160,237 $158,373
Operating Expenses % -1.8 Pts. 34.7% 36.5% 37.6% 38.0% 38.3% 37.5% 37.3% 39.4% 39.5% 42.5%
   
Income From Operations 25.3% $210,459 $167,973 $140,835 $138,891 $110,391 $90,978 $78,875 $56,834 $38,222 $18,764
   
Income From Operations % +2.5 Pts. 20.9% 18.4% 15.5% 14.6% 14.1% 13.4% 13.2% 11.7% 9.4% 5.0%
   
Non-operating income (expense), net -657.2% -$847 $152 $6,027 $15,036 $11,066 $4,388 $2,219 $704 -$1,127 $581
   
Income before taxes 24.7% $209,612 $168,125 $146,862 $153,927 $121,457 $95,366 $81,094 $57,538 $37,195 $19,345
   
Income Taxes 23.2% $64,999 $52,745 $49,173 $52,301 $40,673 $31,717 $26,761 $23,592 $15,078 $6,577
 Tax Rate % of IBT -0.4 Pts. 31.0% 31.4% 33.5% 34.0% 33.5% 33.3% 33.0% 41.0% 40.5% 34.0%
   
Minority interests and equity in net -46.1% -$554 -$1,027 -$1,397 -$889 -$909 -$682 -$673 -$667 -$335 -$529
 earnings of affiliates    
   
Net Income 26.0% $144,059 $114,353 $96,292 $100,737 $79,875 $62,967 $53,660 $33,279 $21,782 $12,239
   
Net Income % +1.8 Pts. 14.3% 12.5% 10.6% 10.6% 10.2% 9.3% 9.0% 6.8% 5.4% 3.3%
   
Earnings Per Share, diluted 23.4% $1.74 $1.41 $1.17 $1.20 $0.97 $0.77 $0.67 $0.43 $0.31 $0.17
   
Cash Dividends - - - - - - - - - - -
   
Weighted Average # of Shares Outstanding 1.5% 82,672 81,448 81,461 83,346 82,581 81,248 79,606 76,906 71,352 71,400
EPS and shares outstanding have been restated for the stock splits of Feb.8, 2008, Feb. 3. 2005 and June 22, 1998.
Reconciliation of GAAP Net Income and EPS to Net Income and EPS before share-based payment charge, i.e stock option expense
FINANCIAL SUMMARY
MICROS Systems, Inc. ($000 except share amounts)
8.25.2011
FY2011 FY2010 FY2009
Net Income GAAP $144,059 $114,353 $96,292
Add back:  
     COGS-service $105 $32 $0
     Selling, Gen. & Admin. Expenses $11,747 $11,822 $13,108
     Research and Development Expenses $596 $511 $792
    Stock option expense included in operating expenses $12,448 $12,365 $13,900
 
  Restructuring related cost of sales $0 $0 $681
  Restructuring charge included in SG&A $0 $0 $3,094
  Legal Accrual $3,000
  Legal Accrual Interest $360
 Credit based other-than termporary impairment charge $4,217 $4,783 $1,266
Total Add back $20,025 $17,148 $18,941
 
Subtract: Total tax effect on  
  Legal Settlement -$1,280
Stock Option Expense -$4,426 -$4,283 -$4,100
 Restructuring charge and related cost of sales $0 $0 -$1,186
 Total-tax effect -$5,706 -$4,283 -$5,286
Non-GAAP Net Income $158,378 $127,218 $109,947
Non-GAAP Net Income EPS $1.92 $1.57 $1.34
REVENUE CLASSIFICATION BY GEOGRAPHICAL REGION % Change FY2011 FY2010 FY2009 FY2008 FY2007 FY2006 FY2005 FY2004
INTERNATIONAL 2011 vs. 2010  
HARDWARE 9.2% $100,241 $91,773 $101,874 $134,252 $107,108 $87,517 $74,080 $57,911
SOFTWARE  10.6% $80,512 $72,824 $84,389 $98,527 $81,306 $64,738 $53,404 $36,443
SERVICE 14.6% $355,241 $309,930 $286,980 $304,713 $232,420 $170,823 $146,464 $126,024
  TOTAL INTERNATIONAL 13.0% $535,994 $474,527 $473,243 $537,492 $420,834 $323,078 $273,948 $220,378
   
UNITED STATES    
HARDWARE 2.3% $98,762 $96,560 $107,960 $131,712 $126,596 $127,485 $117,705 $93,729
SOFTWARE  1.4% $46,611 $45,964 $48,523 $60,012 $50,745 $54,355 $52,966 $46,043
SERVICE 9.8% $326,492 $297,268 $277,999 $224,734 $186,798 $173,315 $152,645 $127,293
  TOTAL UNITED STATES 7.3% $471,865 $439,792 $434,482 $416,458 $364,139 $355,155 $323,316 $267,065
Grand Total 10.2% $1,007,859 $914,319 $907,725 $953,950 $784,973 $678,233 $597,264 $487,443
% Change
Balance Sheet Data FY2011 vs. 2010 FY2011 FY2010 FY2009 FY2008 FY2007 FY2006 FY2005 FY2004 FY2003 FY2002
Working Capital 48.9% $697,012 $468,047 $416,593 $391,656 $343,937 $252,585 $190,436 $118,617 $73,779 $83,485
   
Net Cash From Operations -1.3% $199,209 $201,869 $165,912 $163,648 $115,236 $121,681 $90,924 $71,915 $40,404 $42,309
   
Cash and Cash Equivalents & Short-Term Investments 36.6% $826,491 $605,182 $496,759 $447,180 $329,652 $237,222 $153,521 $91,451 $45,682 $66,638
   
Total Assets 25.9% $1,433,018 $1,138,291 $1,021,379 ######## $846,093 $647,357 $547,228 $418,892 $370,015 $312,830
   
Short-Term Debt -100.0% $0 $1,442 $1,090 $989 $2,308 $2,134 $2,387 $2,481 $10,185 $18,699
   
Long-Term Debt & Lease Obligations (incl current portion LTD) -32.4% $284 $420 $302 $713 $915 $424 $251 $166 $198 $426
   
Deferred Service Revenue 15.1% $143,238 $124,498 $112,146 $115,398 $86,742 $68,246 $58,022 $43,019 $38,538 $33,841
   
Total Liabilities 17.5% $409,767 $348,679 $302,382 $330,902 $295,600 $230,742 $202,057 $155,919 $148,787 $134,468
   
Shareholders Equity 29.6% $1,023,251 $789,612 $718,997 $671,724 $550,493 $416,552 $345,171 $262,973 $221,228 $178,362
   
Book Value Per Share 28.6% $12.59 $9.79 $8.95 $8.30 $6.79 $5.34 $4.47 $3.59 $3.07 $2.55
MICROS Systems, Inc. FINANCIAL SUMMARY
8.25.2011 ($000 except share amounts)
% Change
Supplemental Items: 2011 vs. 2010 FY2011 FY2010 FY2009 FY2008 FY2007 FY2006 FY2005 FY2004 FY2003 FY2002
Software Amortization Expense -22.7% $7,489 $9,682 $8,220 $9,385 $8,392 $6,978 $7,451 $6,705 $5,418 $4,567
   
Capitalized Software 128.3% $5,580 $2,444 $470 $1,919 $1,974 $3,523 $5,745 $5,178 $4,581 $3,034
   
Capital Spending 24.4% $11,252 $9,044 $13,361 $12,944 $11,279 $10,740 $10,245 $8,760 $5,581 $5,216
   
Shares Repurchased Not Applicable 707,789 1,646,070 855,300 2,329,302 697,200 1,842,674 1,794,400 1,687,560 1,128,964 382,400
Cost of Shares Repurchased Not Applicable $33,432 $47,635 $22,242 $74,303 $17,870 $40,234 $26,777 $17,112 $6,681 $2,610
Weighted Average Price Per Share Not Applicable $47.23 $28.94 $26.00 $31.90 $25.63 $21.83 $14.92 $10.14 $5.92 $6.83
The shares repurchased and weighted average price per share reflect the stock split of Feb. 8, 2008, Feb. 3, 2005, and June 22, 1998.