Thursday, Micros Systems, Inc. (MCRS), an enterprise information solutions provider, reported a decline in third-quarter profit, as revenues slumped in its hardware and software business segments.
The Columbia, Maryland-based company reported a third quarter net income of $23.4 million or $0.29 per share, compared to $25.15 million or $0.30 per share a year ago.
On a non-GAAP basis, the company's third-quarter net income decreased to $25.7 million or $0.32 per share from $28 million or $0.34 per share in the year-earlier quarter. Non-GAAP net income excludes stock option expense and tax effect on stock option expense. On average, ten analysts polled by Thomson Reuters estimated earnings of $0.28 per share for the quarter.
Revenue for the quarter dropped to $205.7 million from $237.2 million in the comparable quarter of last year. Analysts expected revenues of $222.2 million for the quarter.
Segment-wise, revenue from hardware dropped to $42.8 million from $65.3 million in the prior-year period. Revenue from software decreased to $28.3 million from $37.9 million last year quarter. Revenue from service increased to $134.6 million from $134 million in the corresponding quarter last year.
Income from operations for the quarter decreased to $32.3 million from $34.8 million a year ago.
For the nine-month period, the company reported a net income of $75.3 million or $0.92 per share, compared to $70.5 million or $0.84 per share in the year-earlier period. Total revenue for the period declined to $687.7 million from $697.6 million a year ago.
MCRS closed Thursday's regular trading at $20.98, down $0.77 or 3.54%, on a volume of 635K shares on the Nasdaq.
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