Micros Systems (MCRS) 8-K Current Report

Exhibit 99.1

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

MICROS REPORTS FISCAL 2004 FIRST QUARTER RESULTS
REVENUE, NET INCOME AND EPS EXCEED EXPECTATIONS
RECORD FIRST QUARTER REVENUE

Columbia, Maryland... MICROS Systems, Inc. (Nasdaq:MCRS), a leading supplier of information systems to the hospitality and retail industries, today announced the results for its fiscal 2004 first quarter ended September 30, 2003. Revenue for the quarter was $106.4 million, an increase of $18.7 million, or 21.2%, over the same period last year. The quarterly revenue was a company record for the first fiscal quarter. Net income for the quarter was $4.7 million, an increase of $2.1 million, or 76.1%, over the year ago first quarter. Earnings per share, on a diluted basis, were $0.25, an increase of $0.10, or 66.7%, over the year ago figure of $0.15 per diluted share. Revenue, net income and earnings per share results exceeded consensus expectations.

Tom Giannopoulos, MICROS’s Chairman and CEO, stated: “We are extremely pleased with our financial results for the first quarter and the excellent start of our fiscal year as we are experiencing strong demand in all our business segments: restaurants, hotels and retail.”

MICROS’s management guidance for the second fiscal quarter of 2004 ending December 31, 2004 is for revenue between $107.0 million and $112.0 million, and net income between $6.0 million and $7.0 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.

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

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

		First Quarter Ended Sept 30,
		2004			2003
Revenue:
	Hardware	$	33,946		$	30,013
	Software		17,838			13,147
	Service		54,633			44,595
Total revenue			106,417			87,755
Cost of sales:
	Hardware		23,742			21,639
	Software		5,004			3,637
	Service		25,536			21,066
Total cost of sales			54,282			46,342
Gross margin			52,135			41,413
Selling, general and administrative expenses			35,562			29,444
Research and development expenses			6,174			4,887
Depreciation and amortization			2,317			2,046
Total operating expenses			44,053			36,377
Income from operations			8,082			5,036
Non-operating income (expense), net			155			(624	)
Income before taxes, minority interests, and equity in net earnings of affiliates			8,237			4,412
Income tax provision			3,336			1,677
Income before minority interests and equity in net earnings of affiliates			4,901			2,735
Minority interests and equity in net earnings of affiliates			(154	)		(40	)
Net income		$	4,747		$	2,695
Net income per common share:
	Basic	$	0.26		$	0.15
	Diluted	$	0.25		$	0.15
Weighted-average number of shares outstanding:
	Basic		18,036			17,474
	Diluted		18,940			17,807

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

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

					September 30,			June 30,
					2003			2003
ASSETS
Current assets:
		Cash and cash equivalents			$	52,260		$	45,682
		Accounts receivable, net				97,649			98,700
		Inventories, net				31,178			31,864
		Deferred income taxes				8,300			7,885
		Prepaid expenses and other current assets				16,478			17,860
			Total current assets			205,865			201,991
Property, plant and equipment, net						19,731			20,179
Deferred income taxes, non-current						31,294			32,003
Goodwill and intangible assets, net						74,109			74,270
Purchased and internally developed software costs, net						37,653			38,089
Other investments						510			10
Other assets						3,110			3,473
Total assets					$	372,272		$	370,015
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
		Bank lines of credit			$	10,551		$	10,185
		Current portion of long term debt				0			363
		Current portion of capital lease obligations				133			106
		Accounts payable				22,190			24,177
		Accrued expenses and other current liabilities				39,369			44,240
		Income taxes payable				5,201			10,102
		Deferred income taxes				497			501
		Deferred service revenue				47,521			38,538
				Total current liabilities		125,462			128,212
Capital lease obligations, net of current portion						197			198
Deferred income taxes, non-current						11,498			11,495
Other non-current liabilities						6,494			6,510
Commitments and contingencies:
	Minority interests					2,271			2,372
Shareholders’ equity:
		Common stock				452			450
		Capital in excess of par				69,331			69,644
		Retained earnings				157,128			152,381
		Accumulated other comprehensive loss				(561	)		(1,247	)
				Total shareholders’ equity		226,350			221,228
Total liabilities and shareholders’ equity					$	372,272		$	370,015

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