Headquartered in Columbia, Maryland, Micros Systems Inc. (MCRS) designs, makes, markets and services enterprise information solutions for the hospitality and specialty retail industries. The company is expected to report results for the fourth quarter and fiscal 2009 on Aug. 27.

While Micros stopped providing financial guidance due to management’s concern about waning capital spending, it sees the economy stabilizing over the next few quarters. The company expects to end fiscal 2009 with annual revenue in excess of $900 million.

Micros continues to adopt cost-saving measures and projects expenses to come in below $75 million in the fourth quarter. In the long run, it aims to keep operating costs under $70 million through cost-cutting initiatives and achieve operating margin of 20%.

Almost all Micros customers are in the hospitality industry or the specialty retail industry. A number of positive catalysts could lead to improved business fundamentals over the next nine to twelve months, including new hotel and casino wins, strong sales growth, margin improvement and a positive perception by the investment community.

However, we would like to remain on the sidelines till we have better clarity of the company’s growth prospects in fiscal 2010, given the end-market risks due to a slowdown in the company’s core market of hotels and restaurants and the global financial crisis.

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