Earnings Preview: MICROS Systems - Analyst Blog
August 21 2012 - 6:15AM
Zacks
MICROS Systems,
Inc. (MCRS) is scheduled to report its fourth-quarter
fiscal 2012 earnings on Thursday, August 23, 2012, after the
closing bell.
The current Zacks Consensus
Estimate is pegged at 55 cents a share for the quarter,
representing an annual growth of (0.61)%. The current Zacks
Consensus Estimate range between a low of 47 cents and a high of 58
cents a share. The Zacks Consensus Estimate of revenue is $302
million for the fiscal fourth quarter.
With respect to earnings surprises,
MICROS Systems outperformed the Zacks Consensus Estimate in two of
the last four quarters, was in line with one quarter and
underperformed in the other. Average earnings surprise was 8.45%,
implying that the company has outperformed the Zacks Consensus
Estimate by the same magnitude over the last four quarters.
Third Quarter of Fiscal
2012 Highlights
On April 26, 2012, MICROS Systems
reported financial results for the third quarter of fiscal 2012.
The company’s non-GAAP earnings per share were 56 cents compared
with 49 cents in the prior-year quarter and 51 cents in the earlier
quarter. This substantially surpassed the Zacks Consensus Estimate
of 48 cents.
Revenues were $278 million, up 9.8%
year over year and 2.8% sequentially. This was exactly in line with
the Zacks Consensus Estimate.
On a segment basis, Service
revenues came in at $177.4 million, rising from $172.2 million,
going up 3.0% from the previous year quarter. Hardware revenues
came in at $63.1 million, increasing 26.5% from the year-ago
quarter. Software revenues came in at $37.6 million, up 20.9% year
over year.
Agreement of Estimate
Revisions
In the last 30 days, one of the six
analysts increased the company’s earnings per share estimate while
no analysts have decreased the same for the fourth quarter of
fiscal 2012. For the first quarter of fiscal 2013, none of the
analysts, among a total of 5, revised his/her estimates upward
while one made a downward revision in the last 30 days.
For fiscal 2012, one out of the 6
analysts raised his/her estimate in the last 30 days. Out of the 6
analysts, one analyst increased and another analyst reduced the
estimates for fiscal 2013 in the last 30 days.
Magnitude of Estimate
Revisions
Over the last 30 days, estimates
have increased from 54 cents per share to the current estimate of
55 cents for the fourth quarter of fiscal 2012.
Estimate for fiscal 2012 surged
from $1.99 per share to $2.00 over the last 30 days while for
fiscal 2013, it remained consistent at $2.23. These estimates
represented a year-over-year growth of 9.62% for fiscal 2012 and
11.53% for fiscal 2013.
Our
Take
We are optimistic that the
company’s series of contract wins and extensions will continue to
generate approbatory yields for MICROS Systems as it moves ahead to
battle the lingering downsides of the ongoing clouded fiscal
scenario.
MICROS Systems, which is engaged in
designing, manufacturing, marketing of several enterprise
information solutions for the hospitality and specialty retail
industries, gives a tough competition to other industry players,
such as Diebold, Inc. (DBD) and Agilysys,
Inc. (AGYS).
We currently maintain a long-term
‘Neutral' recommendation on the stock. In addition, MICROS Systems
has a Zacks #3 Rank, which translates into a short-term (1-3
months) ‘Hold’ rating.
AGILYSYS INC (AGYS): Free Stock Analysis Report
DIEBOLD INC (DBD): Free Stock Analysis Report
MICROS SYS (MCRS): Free Stock Analysis Report
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