MICROS Systems' CEO Discusses Q4 Results - Earnings Call Transcript

Tickers in this article: MCRS

MICROS Systems, Inc. (MCRS)

Q4 2012 Earnings Call

August 23, 2012 04:45 pm ET

Executives

Tom Giannopoulos - Chairman, President, and Chief Executive Officer

Peter Rogers - Executive Vice President, Investor Relations and Business Development

Cindy Russo - Executive Vice President, Chief Financial Officer

Tom Patz - Executive Vice President, Strategic Initiatives, and General Counsel

Analysts

Gil Luria - Wedbush Securities

Ross MacMillan - Jefferies

Dan Coholan - RBC Capital Markets

Eric Lemus - Raymond James

Keith Housum - Northcoast Research

Presentation

Operator

Welcome to the MICROS Systems Fiscal Year 2012 Fourth Quarter Conference Call. During the presentation, all participants will be in listen-only mode. Afterwards, we will conduct a question-and-answer session. (Operator Instructions). As a reminder, this conference is being recorded, Thursday, August 23, 2012.

I would now like to turn the conference over to Tom Giannopoulos, Chairman and CEO. Please go ahead, sir.

Tom Giannopoulos

Thank you, Kevin, and good afternoon, everyone. Thank you again for attending today's conference call. Again, to remind everyone, this is the fourth quarter of our fiscal year 2012 conference call that ended in June.

As you know our fiscal year is July 1 st through June 30 th. With me as always are, Cindy Russo, who is our CFO, Tom Patz, who is the Legal Council and Business Development EVP, and Peter Rogers and we will commence with Peter and the disclaimer. Peter?

Peter Rogers

Thank you, Tom. Good afternoon, ladies and gentlemen. Some of the comments today are forward-looking statements that involve risks and uncertainties such as uncertainties of product demand and market acceptance, the impact of competitive products and pricing on margins, ability to obtain on acceptable terms the right to incorporate in MICROS's products and services, technology patented by others, environmental and health related events, unanticipated tax liabilities and the effects of terrorist activity and armed conflict. MICROS undertake no duty to update any forward-looking statements to conform to actual results or changes in MICROS' expectations.

Other risks and uncertainties associated with MICROS business are identified in the management's discussion analysis of financial condition, results of operations and business for investment risk sections of MICROS's SEC filings. Tom?

Tom Giannopoulos

Thanks, Peter. Our financial results for the quarter and the fiscal year were outstanding under any circumstances, but especially when you consider the global events and turmoil of the past 12 months.

Specifically in looking at the numbers from the press release this afternoon, revenue for the quarter grew from $274 million to $302 million, plus 10%, 10% plus 0.36%, which is consistent with our goal of upper single-digit revenue growth, while increasing profitability. This is what we have said, we want to do these during these difficult business times.