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MICROS Systems reports profit, acquisition

Columbia company to expand presence abroad

By Eileen Ambrose, The Baltimore Sun

6:41 PM EDT, April 26, 2012

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Columbia-based MICROS Systems Inc., a provider of technology solutions for the hospitality industry, announced on Thursday that it had a $43.2 million profit in the third quarter and planned to buy a company in England.

MICROS' net income rose $4.7 million in the quarter ended March 31 over the third quarter last year. On a per-share basis, the company earned 53 cents, a 6-cent increase from the year before. Revenue for the quarter reached $278 million, up nearly 10 percent from a year ago.

The company also announced that it had signed an agreement to buy Torex Retail Holdings Ltd., in Dunstable, England, from two private equity firms. Under the deal, MICROS will pay about 114.5 million pounds —or $185.2 million — and will assume about 48 million pounds, or $77.6 million, in debt.

Torex provides information technology systems for stores and pub markets in the United Kingdom and Europe. MICROS says the acquisition fits within the company's goal of growing internationally.

Eileen.ambrose@baltsun.com

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