-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VWxfsbFTlv2w7on2AUrOqcXMP5CRsBZ4rCj5OBORfc9mKniH3SbFXtRfoA7AY9Qh 0hnvdNsZrDsd0UBbL6YAlQ== 0000950133-02-003580.txt : 20021101 0000950133-02-003580.hdr.sgml : 20021101 20021101105603 ACCESSION NUMBER: 0000950133-02-003580 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20021030 ITEM INFORMATION: Other events FILED AS OF DATE: 20021101 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MICROS SYSTEMS INC CENTRAL INDEX KEY: 0000320345 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER INTEGRATED SYSTEMS DESIGN [7373] IRS NUMBER: 521101488 STATE OF INCORPORATION: MD FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-09993 FILM NUMBER: 02805972 BUSINESS ADDRESS: STREET 1: 12000 BALTIMORE AVE CITY: BELTSVILLE STATE: MD ZIP: 20705 BUSINESS PHONE: 3012016000 MAIL ADDRESS: STREET 1: 12000 BALTIMORE AVE CITY: BELTSVILLE STATE: MD ZIP: 20705-1291 8-K 1 w65069e8vk.txt CURRENT REPORT UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: October 30, 2002 (Date of earliest event reported) MICROS SYSTEMS, INC. -------------------------------------------------------- (Exact name of Registrant as specified in its charter) MARYLAND 000-09993 52-1101488 - -------------------------------------------------------------------------------- (State of incorporation) (Commission File Number) (I.R.S. Employer Identification Number) 7031 Columbia Gateway Drive, Columbia, Maryland 21046-2289 ------------------------------------------------- (Address of principal executive offices) (Zip code) Registrant's telephone number, including area code: 443-285-6000 ------------ Item 5. Other Events. The registrant's press release dated October 30, 2002, regarding its financial results for the first fiscal quarter of 2003,ended September 30, 2002, is Exhibit 99.1 of this Form 8-K. Additionally, Exhibit 99.2 is the registrant's consolidated balance sheet as of September 30, 2002. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: October 31, 2002 MICROS Systems, Inc. (Registrant) By: /s/ Gary C. Kaufman ------------------------------------- Gary C. Kaufman Executive Vice-President, Finance and Administration, and Chief Financial Officer Exhibit Index 99.1 Press Release 99.2 Consolidated Balance Sheet, September 30, 2002 EX-99.1 3 w65069exv99w1.txt EXHIBIT 99.1 Exhibit 99.1 RELEASE DATE: OCTOBER 30, 2002 CONTACT: PETER J. ROGERS, JR. VICE PRESIDENT, INVESTOR RELATIONS 443-285-8059 PROGERS@MICROS.COM MICROS REPORTS FISCAL 2003 FIRST QUARTER RESULTS REVENUE, NET INCOME AND EPS MEET EXPECTATIONS COLUMBIA, MARYLAND.... MICROS Systems, Inc. (Nasdaq:MCRS), a leading supplier of information systems to the hospitality industry, today announced the results for its fiscal 2003 first quarter ended September 30, 2002. Revenue for the quarter was $86.5 million, an increase of $3.0 million, or 3.6%, over the same period last year. Net income for the quarter was $2.7 million, an increase of $1.8 million, or 206.6%, over the year ago net income of $0.9 million. Earnings per share, on a diluted basis, were $0.15, an increase of $0.10 over the year ago earnings of $0.05 per diluted share. Revenue, net income and earnings per share results met consensus expectations. In the first quarter of fiscal 2003, MICROS adopted Statement of Financial Accounting Standards No. 142, "Goodwill and Other Intangible Assets." Under this Statement, the Company did not record goodwill amortization expense for the 2003 first fiscal quarter. For comparison purposes, in the first quarter of fiscal 2002, the effect of goodwill amortization was $0.06 per share on a diluted basis. Tom Giannopoulos, MICROS's Chairman and CEO, stated: "We are pleased with the start of our new fiscal year as we achieved our first quarter financial targets. While we are challenged by the uncertainties of the hospitality industry, we continue to steadily improve our operations to strengthen our leadership position." MICROS's management guidance for the second fiscal quarter of 2003 ending December 31, 2002 is for revenue between $90.0 million and $94.0 million and net income between $4.0 million and $5.0 million. 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. Page 1 of 2 MICROS SYSTEMS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED - IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
First Quarter Ended September 30, 2002 2001 ---- ---- Revenue: Hardware and software $43,160 $42,698 Service 43,351 40,813 ------ ------ Total revenue 86,511 83,511 ------ ------ Cost of sales: Hardware and software 25,276 24,346 Service 19,822 19,097 ------ ------ Total cost of sales 45,098 43,443 ------ ------ Gross margin 41,413 40,068 ------ ------ Selling, general and administrative expenses 29,444 28,680 Research and development expenses 4,887 4,826 Depreciation and amortization 2,046 3,755 ----- ----- Total operating expenses 36,377 37,261 ------ ------ Income from operations 5,036 2,807 Non-operating expense, net (624) (1,139) ----- ------- Income before taxes, minority interests, and equity in net earnings of affiliates 4,412 1,668 Income tax provision 1,677 667 ----- --- Income before minority interests and equity in net earnings of affiliates 2,735 1,001 Minority interests and equity in net earnings of affiliates (40) (122) ---- ----- Net income $2,695 $879 ------ ---- Net income per common share: Basic $0.15 $0.05 ----- ----- Diluted $0.15 $0.05 ----- ----- Weighted-average number of shares outstanding: Basic 17,474 17,492 Diluted 17,807 17,722
Page 2 of 2 EX-99.2 4 w65069exv99w2.txt EXHIBIT 99.2 Exhibit 99.2 MICROS SYSTEMS, INC. CONSOLIDATED BALANCE SHEET September 30, 2002 (Unaudited - in thousands, except per share amounts) ASSETS Current assets: Cash and cash equivalents $61,412 Accounts receivable, net 92,051 Inventories, net 32,368 Deferred income taxes 6,999 Prepaid expenses and other current assets 13,874 ------ Total current assets 206,704 Property, plant and equipment, net 21,188 Deferred income taxes, non-current 20,270 Goodwill and intangible assets, net 31,945 Purchased and internally developed software costs, net 29,872 Other assets 4,100 ----- Total assets $314,079 ======== LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Bank lines of credit $18,466 Current portion of capital lease obligations 150 Accounts payable 24,007 Accrued expenses and other current liabilities 34,616 Income taxes payable 3,413 Deferred income taxes 576 Deferred service revenue 40,158 ------ Total current liabilities 121,386 Capital lease obligations, net of current portion 280 Deferred income taxes, non-current 9,931 Other non-current liabilities 1,284 Commitments and contingencies Minority interests 2,287 Shareholders' equity: Common stock 436 Capital in excess of par 55,176 Retained earnings 133,294 Accumulated other comprehensive loss (9,995) ------- Total shareholders' equity 178,911 ------- Total liabilities and shareholders' equity $314,079 ========
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