Micros reports increased revenue

MICROS Systems released financial results for its fiscal 2011 first quarter ended September 30, 2010, reporting increased revenue and income compared to last year.

The financial results for the first fiscal quarter exceeded consensus expectations. MICROS’s financial guidance for fiscal 2011 remains the same as previously provided in August 2010 with revenue between $1.0 billion and $1.005 billion and net income between $140 million and $142 million.

“We are very pleased with the results for our fiscal quarter, which included record operating income, net income and EPS for a first fiscal quarter,” said Tom Giannopoulos, MICROS’s Chairman and CEO

FINANCIAL HIGHLIGHTS

* Revenue for the quarter was $233.4 million, an increase of $22.0 million, or 10.4 percent, over the same period last year
* GAAP net income for the quarter was $31.6 million, an increase of $7.5 million, or 30.9 percent, over the same period last year.
* GAAP diluted earnings per share (EPS) for the quarter was $0.39 per share, an increase of $0.09, or 30 percent over the same period last year.
* Non-GAAP financial results for the quarter, excluding the effect of charges for stock options and the redemption of one of our auction rate securities, are as follows:
o Non-GAAP net income for the quarter was $33.4 million, an increase of $6.7 million, or 25.3 percent, over the same period last year.
o Non-GAAP diluted EPS for the quarter was $0.41 per share an increase of $0.08, or 24.2 percent, over the same period last year.

Check out the full financial results, including charts and data, here.