COLUMBIA, Md., Aug. 28 MICROS Systems, Inc.(Nasdaq: MCRS), a leading supplier of information systems to the hospitalityand retail industries, today announced the results for its fiscal 2007 fourthquarter and fiscal year ending June 30, 2007.
Tom Giannopoulos, MICROS's Chairman and CEO, stated, "We are extremelypleased with the results of the fourth quarter and fiscal year. We continueto deliver record performance, driven by the right business strategy, greatproducts and a global infrastructure designed to serve the informationtechnology needs of our customers worldwide."
MICROS's guidance for its fiscal 2008 first quarter ending September 30,2007 is for revenue between $201.0 million and $204.0 million, and non-GAAPnet income, excluding the currently projected share-based payment charge forthe first quarter, between $21.0 million and $22.0 million, or non-GAAPearnings per share between $0.50 and $0.52. Guidance for GAAP net income isbetween $18.5 million and $19.0 million, or earnings per diluted share of$0.43 to $0.45.
Guidance for the fiscal 2008 year ending June 30, 2008 is for revenuebetween $910.0 million and $915.0 million and non-GAAP net income, excludingthe currently projected share-based payment charge for the fiscal year,between $109.0 million and $111.0 million, or non-GAAP earnings per dilutedshare between $2.59 and $2.62. Guidance for GAAP net income is between $97.0million and $99.0 million, or earnings per diluted share of $2.29 to $2.34.
Commencing with the fiscal 2008 second quarter, MICROS will no longerprovide quarterly guidance; MICROS will continue to provide fiscal year annualguidance. MICROS management is in agreement with a growing consensus thatpublishing quarterly guidance may create an undue focus on short termfinancial performance.
MICROS's stock is traded through NASDAQ under the symbol MCRS. Some ofthe statements contained herein not based on historic facts areforward-looking statements that involve risks and uncertainties. An exampleof a forward looking statement includes the statements in the paragraphs whereMICROS provides guidance for its first fiscal quarter ending September 30,2007 and fiscal 2008 year ending June 30, 2008, and Mr. Giannopoulos's quote.MICROS is subject to, among others, the following uncertainties and risks:product demand and market acceptance; impact of competitive products andpricing on margins; product development delays and technological difficulties;controlling expenses as MICROS continues to expand; the ability to obtain onacceptable terms the right to incorporate in MICROS's products and servicestechnology patented by others; the risk that there are actual or perceivedsecurity vulnerabilities in MICROS's products; adverse results in legaldisputes resulting in liabilities that exceed reserves; unanticipated taxliabilities; the effects of terrorist activity and armed conflict; the effectsof major environmental disasters; weakening in general economic conditionsthat adversely affect demand for computer hardware or software; and currencyfluctuations.
All information in this release is as of August 28, 2007. MICROSundertakes no duty to update any forward-looking statement to conform thestatement to actual results or changes in MICROS's expectations.
For further information regarding risks and uncertainties associated withMICROS's business, please refer to the "Management's Discussion and Analysisof Financial Condition and Results of Operations" and "Business and InvestmentRisks" sections of MICROS's SEC filings, including, but not limited to, itsannual report on Form 10-K and quarterly reports on Form 10-Q, copies of whichmay be obtained by contacting MICROS's investor relations department at443-285-8059 or at MICROS's website at http://www.micros.com.
We believe the inclusion of the above non-GAAP measure, excluding theeffect of share-b