Micros Systems 4th-qtr profit beats; shares rise
Aug 23 (Reuters) - Micros Systems Inc, which makes data management systems for retailers and hotel chains, reported quarterly profit above estimates, helped by double-digit growth in its hardware business.
Shares of the company were trading up 5 percent at $50.39 in extended trade after closing at $48.21 on the Nasdaq on Thursday.
Fourth-quarter net income rose to $48.2 million, or 59 cents per share, from $41.6 million, or 50 cents per share, a year earlier.
Excluding items, the company earned 68 cents per share.
Revenue for the quarter rose 10.4 percent to $302.5 million. Hardware sales jumped 21 percent to $69 million, while software sales grew 6 percent and service revenue about 8 percent.
Analysts on average expected the company to earn 60 cents per share on revenue of $302 million, according to Thomson Reuters I/B/E/S.
Micros supplies its billing and reservation systems to companies such as MGM Resorts International, Starbucks Corp and Tommy Hillfiger Corp and generates a major part of its sales outside the United States.