Micros Systems (MCRS) 8-K Micros Reports Fiscal 2003 Second Quarter Results Revenue, Net Income and Eps Exceed Expectations

Exhibit 99.1

News		micros®
		MICROS Systems, Inc.
		7031 Columbia Gateway Drive
		Columbia, Maryland 21046-2289
Release Date:	January 30, 2003	Contact: Peter J. Rogers, Jr.
		Vice President, Investor Relations
		(443) 285-8059

MICROS REPORTS FISCAL 2003 SECOND QUARTER RESULTS
REVENUE, NET INCOME AND EPS EXCEED 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 second quarter ended December 31, 2002. Revenue for the quarter was $95.5 million, an increase of $4.6 million, or 5.1%, over the same period last year. Net income for the quarter was $4.9 million, an increase of $2.4 million, or 98.4%, over the year ago second quarter. Earnings per share, on a diluted basis, were $0.28 per share, an increase of $0.14 per share, or 100.0%, over the year ago earnings of $0.14 per share.

For the six-month period ending December 31, 2002, MICROS’s revenue was $182.1 million, an increase of $7.6 million, or 4.4%, over the same period last year. Net income for the six-month period was $7.6 million, an increase of $4.3 million, or 126.7%, over the year ago period. Earnings per share, on a diluted basis, were $0.43, an increase of $0.24 per share, or 126.3%, over the year ago earnings of $0.19 per share.

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 is not recording goodwill amortization expense for fiscal 2003. For comparison purposes, the effect of goodwill amortization for the fiscal 2002 second quarter was $0.08 per diluted share and $0.14 per diluted share on a six-month basis.

Tom Giannopoulos, MICROS’s Chairman and CEO stated: “We are pleased with the results for the quarter as revenue and net income exceeded our expectations. Notwithstanding the global issues existing today, we are on-track with our fiscal year projections. We are encouraged by the increased demand for our products and services.”

MICROS’s management guidance for the fiscal 2003 third quarter ending March 31, 2003 is for revenue between $95.0 million and $100.0 million and net income between $5.0 million and $6.0 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.

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News		micros®
		MICROS Systems, Inc.
		7031 Columbia Gateway Drive
		Columbia, Maryland 21046-2289
Release Date:	January 30, 2003	Contact: Peter J. Rogers, Jr.
		Vice President, Investor Relations
		(443) 285-8059

MICROS SYSTEMS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Unaudited — in thousands, except per share amounts)

		Second Quarter Ended December 31,						Six Months Ended December 31,
		2002			2001			2002			2001
Revenue:
	Hardware and software	$	51,011		$	47,497		$	94,171		$	90,195
	Service		44,537			43,402			87,888			84,215
Total revenue			95,548			90,899			182,059			174,410
Cost of sales:
	Hardware and software		27,695			26,409			52,971			50,755
	Service		20,278			21,416			40,100			40,513
Total cost of sales			47,973			47,825			93,071			91,268
Gross margin			47,575			43,074			88,988			83,142
Selling, general and administrative expenses			32,682			30,350			62,126			59,030
Research and development expenses			4,248			4,735			9,135			9,561
Depreciation and amortization			2,129			4,076			4,175			7,831
Total operating expenses			39,059			39,161			75,436			76,422
Income from operations			8,516			3,913			13,552			6,720
Non-operating income (expense), net			190			276			(434	)		(863	)
Income before taxes, minority interests, and equity in net earnings of affiliates			8,706			4,189			13,118			5,857
Income tax provision			3,570			1,559			5,247			2,226
Income before minority interests and equity in net earnings of affiliates			5,136			2,630			7,871			3,631
Minority interests and equity in net earnings of affiliates			(205	)		(145	)		(245	)		(267	)
Net income		$	4,931		$	2,485		$	7,626		$	3,364
Net income per common share:
	Basic	$	0.28		$	0.14		$	0.44		$	0.19
	Diluted	$	0.28		$	0.14		$	0.43		$	0.19
Weighted-average number of shares outstanding:
	Basic		17,398			17,502			17,436			17,497
	Diluted		17,612			17,757			17,707			17,741

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News		micros®
		MICROS Systems, Inc.
		7031 Columbia Gateway Drive
		Columbia, Maryland 21046-2289
Release Date:	January 30, 2003	Contact: Peter J. Rogers, Jr.
		Vice President, Investor Relations
		(443) 285-8059

MICROS SYSTEMS, INC.
CONSOLIDATED BALANCE SHEET
(Unaudited — in thousands)

				December 31,			June 30,
				2002			2002
ASSETS
Current assets:
	Cash and cash equivalents			$	55,684		$	66,638
	Accounts receivable, net				90,278			86,918
	Inventories, net				35,750			31,211
	Deferred income taxes				7,081			7,008
	Prepaid expenses and other current assets				15,207			12,756
		Total current assets			204,000			204,531
Property, plant and equipment, net					20,514			21,467
Deferred income taxes, non-current					20,107			20,707
Goodwill and intangible assets, net					31,144			32,055
Purchased and internally developed software costs, net					31,568			30,303
Other assets					3,411			3,767
Total assets				$	310,744		$	312,830
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
	Bank lines of credit			$	8,350		$	18,699
	Current portion of capital lease obligations				132			147
	Accounts payable				25,552			25,955
	Accrued expenses and other current liabilities				37,395			34,554
	Income taxes payable				2,986			7,303
	Deferred income taxes				810			547
	Deferred service revenue				35,853			33,841
			Total current liabilities		111,078			121,046
Capital lease obligations, net of current portion					295			279
Deferred income taxes, non-current					9,940			9,933
Other non-current liabilities					1,342			1,232
Commitments and contingencies:
	Minority interests				2,450			1,978
Shareholders’ equity:
	Common stock				434			438
	Capital in excess of par				53,509			56,867
	Retained earnings				138,225			130,599
	Accumulated other comprehensive loss				(6,529	)		(9,542	)
			Total shareholders’ equity		185,639			178,362
Total liabilities and shareholders’ equity				$	310,744		$	312,830

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