Micros stock takes a dive

January 29, 1993|By Bloomberg Business News

BELTSVILLE -- Micros Systems Inc.'s shares lost nearly one-fourth of their value yesterday after the company reported lower-than-expected fiscal second-quarter earnings.

Micros Systems, which is about 65 percent owned by Westinghouse Electric Corp., said late Wednesday that income in the quarter that ended Dec. 31 rose to $1.28 million, from $1.2 million in the year-earlier period. Earnings per share were flat at 16 cents.

Revenue rose to $13.1 million, from $11.8 million, for Micros, which designs, makes, markets and installs computer automation systems for hotels, restaurants and property management firms.

Micros shares closed down $5 at $15.50 on NASDAQ volume of 511,500 shares, seven times its three-month average daily volume.

Earnings were hurt by non-operating expenses, including about $305,000 from unfavorable foreign-exchange rates, the firm said.

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