<PAGE>   1

                                   Form 10-Q

                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                Quarterly Report Pursuant to Section 13 or 15(d)
                     of the Securities Exchange Act of 1934

                      For the quarter ended March 31, 1997
                         Commission file number 0-9993


                            MICROS SYSTEMS, INC.
    -------------------------------------------------------------------
           (Exact name of Registrant as specified in its charter)



              MARYLAND                                  52-1101488
    -------------------------------------------------------------------
     (State of incorporation)                       (I.R.S. Employer
                                                 Identification Number)

       12000 Baltimore Avenue, Beltsville, Maryland     20705-1291
    -------------------------------------------------------------------
         (Address of principal executive offices)       (Zip code)


      Registrant's telephone number, including area code:  301-210-6000
                                                           ------------


Indicate by check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such report(s)), and (2) has been subject to
such filing requirements for the past 90 days.

                             YES   x          NO
                                -------          -------


As of March 31, 1997, there were 7,962,650 shares of Common Stock, $.025 par
value, outstanding.





                                       1
<PAGE>   2



                     MICROS SYSTEMS, INC. AND SUBSIDIARIES

                                   Form 10-Q

                      For the Quarter Ended March 31, 1997

                         PART I - Financial Information


Item 1.  Financial Statements.

                                    General

The information contained in this report is furnished for the Registrant,
MICROS Systems, Inc., and its subsidiaries (referred to collectively herein as
"MICROS" or the "Company"). In the opinion of management, the information in
this report contains all adjustments, consisting only of normal recurring
adjustments, which are necessary for a fair statement of the results for the
interim periods presented.  The financial information has been reviewed by the
Company's independent accountants, Price Waterhouse LLP, and a copy of its
report is attached.

The financial information presented herein should be read in conjunction with
the financial statements included in the Registrant's Form 10-K for the fiscal
year ended June 30, 1996, as filed with the Securities and Exchange Commission.

With respect to the unaudited consolidated financial information for the three
and nine month periods ended March 31, 1997 and 1996, Price Waterhouse LLP has
reported that it has applied limited procedures in accordance with professional
standards for a review of such information.  However, its report dated May 14,
1997, appearing herein, states that it did not audit and it does not express an
opinion on that unaudited consolidated financial information.  Price Waterhouse
LLP has not conducted any significant or additional audit tests beyond those
which would have been necessary if its report had not been included.
Accordingly, the degree of reliance on its report on such information should
be restricted in light of the limited nature of the review procedures applied.
Price Waterhouse LLP is not subject to the liability provisions of Section 11
of the Securities Act of 1933 for its report on the unaudited consolidated
financial information because such report is not a "report" within the meaning
of Sections 7 and 11 of the Securities Act of 1933.





                                       2
<PAGE>   3



                     MICROS SYSTEMS, INC. AND SUBSIDIARIES
                          CONSOLIDATED BALANCE SHEETS
                     (In thousands, except per share data)


<TABLE>
<CAPTION>
                                                                (Unaudited)
                                                                  March 31,      June 30,
                                                                    1997           1996
                                                                    ----           ----
 <S>                                                              <C>            <C>
 ASSETS
 ------
 Current assets:
      Cash and cash equivalents                                    $ 18,251      $ 15,231
      Accounts receivable, net of allowance for
        doubtful accounts of $2,237 at March 31,
        1997 and $2,016 at June 30, 1996                             57,659        49,250
      Inventories                                                    20,101        15,138
      Deferred income taxes                                           3,899         3,899
      Prepaid expenses and other current assets                       4,204         4,420
                                                                   --------      --------   
           Total current assets                                     104,114        87,938

 Property, plant and equipment, net of accumulated
      depreciation and amortization of $14,542 at
      March 31, 1997 and $13,332 at June 30, 1996                    17,547        15,623
 Note receivable                                                          0           225
 Deferred income taxes, non-current                                   5,044         5,580
 Goodwill and intangible assets, net of
      accumulated amortization of $5,326 at
      March 31, 1997 and $3,346 at June 30, 1996                     17,660        20,746
 Purchased and internally developed software costs,
      net of accumulated amortization of $4,069 at
      March 31, 1997 and $2,650 at June 30, 1996                      9,070         6,287
 Other assets                                                           620           437
                                                                   --------      --------   
 Total assets                                                      $154,055      $136,836  
                                                                   ========      ========   

 LIABILITIES AND SHAREHOLDERS' EQUITY
 ------------------------------------
 Current liabilities:
      Bank lines of credit                                         $ 11,882      $ 14,947
      Current portion of long-term debt                               3,570         5,238
      Current portion of capital lease obligation                       140           124
      Accounts payable                                               14,996        12,726
      Accrued expenses and other current liabilities                 26,823        23,927
      Income taxes payable                                            5,026           986
      Deferred service revenue                                       14,731         9,295
                                                                   --------      --------   
           Total current liabilities                                 77,168        67,243

 Long-term debt, net of current portion                               4,182         6,704
 Capital lease obligation, net of current portion                     3,352         3,458
 Deferred income taxes                                                2,725         2,588
 Minority interests                                                   1,245           648
                                                                   --------      --------   
           Total liabilities                                         88,672        80,641
                                                                   --------      --------   

 Commitments and contingencies
 Shareholders' equity:
      Common stock, $.025 par; authorized 10,000
       shares; issued and outstanding 7,963 at
      March  31, 1997 and 7,944 at June 30, 1996                        199           199
      Capital in excess of par                                       17,092        16,253
      Retained earnings                                              50,596        39,794
      Accumulated foreign currency translation
       adjustments                                                   (2,504)          (51)
                                                                   --------      --------   
           Total shareholders' equity                                65,383        56,195
                                                                   --------      --------   

 Total liabilities and shareholders' equity                        $154,055      $136,836  
                                                                   ========      ========   
</TABLE>




The accompanying notes are an integral part of the consolidated financial
statements.





                                       3
<PAGE>   4


                     MICROS SYSTEMS, INC. AND SUBSIDIARIES
                     CONSOLIDATED STATEMENTS OF OPERATIONS
                (Unaudited, in thousands, except per share data)



<TABLE>
<CAPTION>
                                                         Three Months Ended March 31,
                                                         ----------------------------
                                                             1997              1996
                                                         ----------        ----------
 <S>                                                       <C>               <C>
 Revenue:
   Hardware and software                                   $38,489           $29,825
   Service                                                  18,221            17,480
                                                           -------           -------
      Total revenue                                         56,710            47,305
                                                           -------           -------

 Costs and expenses:
   Cost of sales
      Hardware and software                                 16,899            14,902
      Service                                                9,332             9,004
                                                           -------           -------
        Total cost of sales                                 26,231            23,906

   Selling, general and administrative
      expenses                                              17,440            16,955
   Research and development expenses                         3,303             2,152
   Depreciation and amortization                             1,802             1,564
                                                           -------           -------
        Total costs and expenses                            48,776            44,577
                                                           -------           -------

 Income from operations                                      7,934             2,728

 Non-operating income (expense):
   Interest income                                              99                66
   Interest expense                                           (356)             (634)
   Other income (expense), net                                  34               121
                                                           -------           -------

 Income before taxes and minority
  interest and equity in net earnings of
  affiliates                                                 7,711             2,281

 Income tax expense                                          3,081               878
                                                           -------           -------

 Income before minority interest and
  equity in net earnings of affiliates                       4,630             1,403
 Minority interest and equity in net
  earnings of affiliates                                      (166)             (221)
                                                           -------           -------
 Net income                                                $ 4,464           $ 1,182  
                                                           =======           ======= 
 Net income per common and common                                                       
  equivalent share                                         $  0.55           $  0.15  
                                                           =======           ======= 
 Weighted-average number of common and                                                  
  common equivalent shares outstanding                       8,169             8,040  
                                                           =======           ======= 
</TABLE>


The accompanying notes are an integral part of the consolidated financial
statements.





                                       4
<PAGE>   5
                     MICROS SYSTEMS, INC. AND SUBSIDIARIES
                     CONSOLIDATED STATEMENTS OF OPERATIONS
                (Unaudited, in thousands, except per share data)



<TABLE>
<CAPTION>
                                                      Nine Months Ended March 31,
                                                      ---------------------------
                                                         1997              1996
                                                      ----------        ---------
 <S>                                                   <C>               <C>
 Revenue:
   Hardware and software                               $105,317          $ 84,235
   Service                                               54,866            38,318
                                                       --------          --------
      Total revenue                                     160,183           122,553
                                                       --------          --------

 Costs and expenses:
   Cost of sales
      Hardware and software                              49,480            43,852
      Service                                            27,795            18,151
                                                       --------          --------
      Total cost of sales                                77,275            62,003

   Selling, general and administrative
      expenses                                           50,246            39,808
   Research and development expenses                      7,716             5,193
   Purchased incomplete software technology                   0            14,770
   Depreciation and amortization                          5,119             2,950
                                                       --------          --------
      Total costs and expenses                          140,356           124,724
                                                       --------          --------

 Income (loss) from operations                           19,827            (2,171)

 Non-operating income (expense):
   Interest income                                          318               668
   Interest expense                                      (1,139)           (1,087)
   Other income (expense), net                              177                53
                                                       --------          --------

 Income (loss) before taxes and minority
  interest and equity in net earnings of
  affiliates                                             19,183            (2,537)

 Income tax expense (benefit)                             7,673            (2,070)
                                                       --------          --------

 Income (loss) before minority interest and
  equity in net earnings of affiliates                   11,510              (467)
 Minority interest and equity in net
  earnings of affiliates                                   (708)             (185)
                                                       --------          --------
 Net income (loss)                                     $ 10,802          $   (652) 
                                                       ========          ========
 Net income (loss) per common and common                                              
  equivalent share                                     $   1.34          $  (0.08) 
                                                       ========          ========
 Weighted-average number of common and                                                
  common equivalent shares outstanding                    8,035             8,014  
                                                       ========          ========
</TABLE>


The accompanying notes are an integral part of the consolidated financial
statements.





                                       5
<PAGE>   6

                     MICROS SYSTEMS, INC. AND SUBSIDIARIES
                     CONSOLIDATED STATEMENTS OF CASH FLOWS
                    (Condensed and unaudited - in thousands)


<TABLE>
<CAPTION>
                                                          Nine Months Ended March 31,
                                                          ---------------------------
                                                             1997              1996
                                                          ----------       ----------
 <S>                                                       <C>              <C>
 Net cash flows from operating activities:                  $18,572             $362
                                                            -------              ---
 Cash flows from investing activities:
      Purchases of property, plant and
       equipment                                             (4,994)          (3,771)
      Proceeds on dispositions of property,
       plant and equipment                                      153               --
      Purchased and internally developed
       software costs                                        (4,486)          (1,186)
      Sale of short-term investments                             --            3,170
      Dividends (to) minority owners and
       received from affiliates                                (112)             581
      Loan to affiliate                                          --           (2,347)
      Net cash paid for acquisitions and
       minority interests                                    (1,206)         (27,036)
                                                            -------          -------
           Net cash used in investing
            activities                                      (10,645)         (30,589)
                                                            -------          -------

 Cash flows from financing activities:
      Principal payments on line of credit                   (1,897)              --
      Principal payments on long-term debt
       and capital lease obligation                          (3,908)          (8,982)
      Proceeds from line of credit and long
       term debt                                                 59           28,817
      Proceeds from issuance of stock                           793              823
      Income tax benefit from stock options
       exercised                                                 46               66
                                                            -------          -------
           Net cash (used in) provided by
            financing activities                             (4,907)          20,724
                                                            -------          -------

 Net increase (decrease) in cash and cash
    equivalents                                               3,020           (9,503)
 Cash and cash equivalents at beginning of
    period                                                   15,231           23,215
                                                            -------          -------
 Cash and cash equivalents at end of                                                 
    period                                                  $18,251          $13,712  
                                                            =======          =======
 Supplemental disclosures of cash flow
    information:

      Cash paid during the period for:
           Interest                                          $1,072          $   942  
                                                             ======          ======= 
           Income taxes                                      $3,103          $ 4,707  
                                                             ======          ======= 
</TABLE>


Supplemental schedule of noncash financing and investing activities:

         In August 1995, the Company purchased the remaining 77% of D.A.C.
         Systemes/MICROS France and AD-Maintenance Informatique ("ADMI") for FF
         14,000,000 (approximately $2,800,000 at exchange rates in effect at
         the date of purchase), payable FF 8,000,000 at closing and FF
         6,000,000 over the next four years, plus potential additional payments
         based on earnings over the next four years.  The unamortized discount
         on the note, based on an imputed annual interest rate of 8.75%, is
         $94,600 at March 31, 1997.

         In October 1996, the Company purchased the remaining 30% interest in
         one of its majority-owned subsidiaries for $399,000, payable $79,800
         at closing and $319,200 in equal installments over the next four
         years, beginning October 1, 1997.  The note bears interest at the
         prime rate and is adjusted annually each October 1st.

The accompanying notes are an integral part of the consolidated financial
statements.





                                       6
<PAGE>   7

                     MICROS SYSTEMS, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                      For the Quarter Ended March 31, 1997
                                  (Unaudited)

1.       Inventories

         The components of inventories are as follows (in thousands):

<TABLE>
<CAPTION>
                                            March 31,                June 30,
                                              1997                     1996
                                       -----------------        -----------------
                                       
         <S>                           <C>                      <C> 
         Raw materials                 $           5,652        $           3,528
         Work-in-process                           4,788                    2,955
         Finished goods                            9,661                    8,655
                                       -----------------        -----------------
                                       $          20,101        $          15,138
                                       =================        =================
</TABLE>

2.       Acquisitions

         A.  Fidelio Software GmbH

         On November 30, 1995, the Company acquired the remaining 70% of
         Fidelio Software GmbH ("Fidelio") for approximately $28.5 million in a
         transaction which has been accounted for under the purchase method.
         In fiscal 1993, 15% of the capital stock of Fidelio had been acquired
         and an additional 15% was acquired in October 1994, at which time
         MICROS began accounting for Fidelio under the equity method.  Goodwill
         related to these purchases aggregated $20.5 million at November 30,
         1995 and is being amortized over nine years.

         Unaudited pro forma information for the nine-month period ended March
         31, 1996, as if the acquisition had occurred on the first day of that
         period, but excluding a one-time write-off of the purchased incomplete
         software technology is shown below.  Such pro forma information also
         reflects the pro forma effects of Fidelio's acquisition of 100% of the
         common stock of Executive Technologies of Southwest Florida, Inc.
         ("ETI") in October 1995 for $4,000,000.

<TABLE>
<CAPTION>
                                                Nine Months Ended March 31, 1996
                                             (in thousands, except per share data)
                                             -------------------------------------
                        
                        <S>                              <C>
                        Revenue                          $ 147,215
                        Net income                       $   7,237
                        Net income per share             $    0.90
</TABLE>

         B.  Minority Interests

         The Company has acquired all of the minority interests in five Fidelio
         distribution  subsidiaries along with the minority interest in one
         MICROS distribution subsidiary during fiscal 1997 at a cost of
         approximately $1.5 million.  The five Fidelio distribution
         subsidiaries are: Fidelio Hong Kong; Fidelio Singapore; Fidelio
         Thailand; Fidelio U.K.; and Fidelio U.S.  Goodwill approximated this
         total amount and is being amortized over periods ranging from five to
         ten years.


3.       Stock options

         Financial Accounting Standards Board Statement No. 123 ("SFAS 123"),
         Accounting for Stock-Based Compensation, was issued in October 1995.
         Adoption of SFAS 123 is required for the Company's fiscal 1997
         year-end financial statements. Under SFAS 123, the Company will
         continue to measure compensation expense for its stock-based
         compensation plans using the intrinsic value method prescribed by APB
         Opinion No. 25, Accounting for Stock Issued to Employees.  Beginning 
         with financial statements for fiscal year ending June 30, 1997, the 
         Company



         





                                      7
<PAGE>   8
                    MICROS SYSTEMS, INC. AND SUBSIDIARIES
                  NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                     For the Quarter Ended March 31, 1997
                                 (Unaudited)

3.       Stock options, continued

         will provide pro forma disclosures of net income and earnings per
         share as if the fair value based method of accounting defined in SFAS
         123 had been applied to the Company's stock option grants made
         subsequent to fiscal 1995.  The impact of SFAS 123 on the Company's
         pro forma information to be provided has not been determined.

4.       Legal proceedings

         MICROS is and has been involved in legal proceedings arising in the
         normal course of business.  The Company is of the opinion, based upon
         presently available information and the advice of counsel concerning
         pertinent legal matters, that any resulting liability should not have
         a material adverse effect on the Company's results of operations or
         financial position.

         On March 25, 1997, Budgetel Inns, Inc. ("Budgetel") filed suit against
         MICROS in the United States Federal District Court in the Eastern
         District of Wisconsin.  Budgetel alleges, among other things, that
         MICROS breached a March 1993 software support agreement by failing to
         provide full support to this software package licensed to Budgetel in
         1993.  MICROS will defend against Budgetel's allegations.  While the
         ultimate outcome of litigation is uncertain, and while litigation is
         difficult to predict, the Company believes that this litigation will
         have no material adverse effect on the Company's results of operations
         or financial position.

5.       Reclassifications

         Certain balances have been reclassified to conform to fiscal 1997
         presentation.





                                      8
<PAGE>   9
                     MICROS SYSTEMS, INC. AND SUBSIDIARIES
                                   Form 10-Q
                      For the Quarter Ended March 31, 1997
                                  (Unaudited)

Item 2.  Management's discussion and analysis of financial condition and
         results of operations

         Liquidity and Capital Resources

         The Company has a $25.0 million unsecured committed line of credit
         which was renewed December 31, 1996 for an additional one year period,
         expiring on December 31, 1997. In addition, the Company obtained
         additional lines of credit from three European banks aggregating DM
         15.0 million (approximately $8.9 million at the March 31, 1997
         exchange rate) as a result of its November 1995 acquisition of
         Fidelio.  At March 31, 1997, the Company had borrowed approximately
         $11.9 million and has approximately $22.0 million available.  As the
         Company has significant international operations, its DM-denominated
         borrowings do not represent a significant foreign exchange risk. The
         Company does not engage in any foreign exchange hedging.

         In addition, the Company has long-term debt, both current and
         non-current, of approximately $7.8 million as of March 31, 1997.  The
         majority of this debt stems from the Fidelio acquisition.

         Net cash provided by operating activities for the nine months ended
         March 31, 1997 was $18.6 million.  In addition, the Company used
         $9.5 million for the purchase of property, plant and equipment,
         internally developed software as well as software purchased from a
         third party.  Net financing activities for the first nine months of 
         fiscal 1997 used $4.9 million, primarily for debt repayment.

         The Company anticipates that its cash flow from operations along with
         available lines of credit, in conjunction with other lines of credit
         for which the Company may be eligible or lines of credit to be
         renewed, are sufficient to provide the working capital needs of the
         Company for the foreseeable future.  The Company anticipates that its
         rate of property, plant and equipment expenditures for fiscal 1997
         will continue to increase for the remainder of the fiscal year and
         will exceed fiscal 1996 expenditures by approximately $1.0 to $1.5
         million.

         Results of Operations - Third Quarter and Nine Month Comparisons

         The Company recorded net income of $.55 per common share in the third
         quarter of fiscal 1997, compared with net income of $.15 per common
         share in the third quarter of fiscal 1996.  Net income for the nine
         months ended March 31, 1997, was $1.34 per common share compared with
         a net loss of $.08 per common share for the first nine months of
         fiscal 1996.  The year to date results for fiscal 1996 include a
         one-time after tax charge of $8.1 million, or $1.01 per common share,
         for the write-off of purchased incomplete software technology
         associated with the acquisition of Fidelio.  For the quarter and the
         year-to-date, excluding last year's one-time charge, the increased net
         income was primarily due to higher sales volumes and improved gross
         margins associated with a favorable sales mix of higher margin
         products.

         Revenue of $56.7 million for the third quarter of fiscal 1997
         increased $9.4 million, or 19.9%, compared to the same period last
         year.  For the first nine months of fiscal 1997, revenue increased
         $37.6 million to $160.2 million, or 30.7%, over the same period in
         fiscal 1996.  A comparison of the sales mix for fiscal years 1997 and
         1996 is as follows:





                                      9
<PAGE>   10
                     MICROS SYSTEMS, INC. AND SUBSIDIARIES
                                   Form 10-Q
                      For the Quarter Ended March 31, 1997

         Results of Operations - Third Quarter and Nine Month Comparisons,
         Continued

<TABLE>
<CAPTION>
                                      Three Months Ended                        Nine Months Ended
                                          March 31,                                 March 31,
                                     1997             1996                     1997             1996
                                     ----             ----                     ----             ----
                   
                   <S>             <C>              <C>                      <C>              <C>
                   Hardware         46.2%            47.8%                    44.8%            55.0%
                   Software         21.7%            15.2%                    21.0%            13.7%
                   Service          32.1%            37.0%                    34.2%            31.3%
                                   ------           ------                   ------           ------
                                   100.0%           100.0%                   100.0%           100.0%
                                   ======           ======                   ======           ======
</TABLE>


         While hardware sales represent a smaller proportion of total sales in
         fiscal 1997 in comparison to the prior year, this category continued
         to grow in absolute dollars. The increase in software for the quarter,
         relative to total sales, is primarily due to several significant 
         software sales, while the year-to-date increase is primarily due to 
         the acquisition of Fidelio on November 30, 1995.  Service sales 
         increased in absolute dollars for the third quarter in comparison to 
         the prior year, although at a lesser rate than that of hardware and 
         software sales.  Year-to-date service sales have increased primarily 
         due to the Fidelio acquisition.

         Combined hardware and software revenues for the third quarter of
         fiscal 1997 increased $8.7 million, or 29.1%, while service revenues
         increased $741,000, or 4.2%, over the same period a year earlier.  On
         a year-to-date basis, hardware and software sales increased $21.1
         million, or 25.0%, while service revenues increased $16.5 million, or
         43.2%, over the same period a year earlier.

         Cost of sales, as a percentage of revenue, decreased to 46.3%
         from 50.5% for the third quarter of fiscal 1997 compared to the third
         quarter of fiscal 1996. For the first nine months of fiscal 1997,
         cost of sales, as a percentage of revenue, decreased to 48.2% from
         50.6% for the same period a year earlier.  Cost of sales for hardware
         and software products, as a percentage of related revenue, was 43.9%
         in the third quarter of fiscal 1997 compared to 50.0% for the same
         quarter a year earlier as a result of an increase in higher-margin
         software sales as a percentage of total hardware and software revenue
         along with a favorable shift in sales distribution from the indirect
         to direct sales channels.  The Company's third quarter hardware and
         software cost of sales percentage was below its year-to-date
         percentage due to several significant high margin software sales in
         that quarter.  For the first nine months of fiscal 1997, cost of
         sales for hardware and software products, as a percentage of related
         revenue, was 47.0% compared to 52.1% for the same period in fiscal
         1996 as a result of software sales representing a larger proportion of
         hardware and software sales in fiscal 1997 in comparison to the prior
         year.

         Service costs, as a percentage of service revenue, decreased to 51.2%
         in the third quarter of fiscal 1997 compared to 51.5% in the same
         quarter in fiscal 1996.  Service costs, as a percentage of service
         revenue, increased to 50.7% in the first nine months of fiscal 1997
         compared to 47.4% for the same period in fiscal 1996.  The third
         quarter decrease in comparison to the prior year was due to an
         improvement in the mix of service sales, while the increased costs
         year-to-date were primarily due to continued investment in the
         Company's service organization and infrastructure.

         Selling, general and administrative expenses increased $485,000, or
         2.9%, in the third quarter of fiscal 1997 compared to the same period
         last year.  As a percentage of revenue, selling, general and
         administrative expenses decreased to 30.8% in the third quarter of
         fiscal 1997 compared to 35.8% in the third quarter of fiscal 1996 as
         sales grew at a rate in excess of these expenses. For the first nine
         months of fiscal 1997, selling, general and administrative expenses,
         as a percentage of revenue, were 31.4% compared to 32.5% for the same
         period a year earlier.  The year-to-date decrease is primarily due 
         to a






                                       10
<PAGE>   11
                     MICROS SYSTEMS, INC. AND SUBSIDIARIES
                                   Form 10-Q
                      For the Quarter Ended March 31, 1997

         Results of Operations - Third Quarter and Nine Month Comparisons,
         Continued

         moderation in the expansion of the Company's corporate infrastructure,
         along with office and staffing consolidation in various international
         subsidiaries.

         Research and development expenses (exclusive of internally developed
         software costs), which consist primarily of labor costs, increased
         $1.2 million, or 53.5%,  in the third quarter of fiscal 1997 compared
         to the same period a year earlier.  Actual research and development
         expenditures, including internally developed software costs of
         $986,000 in the third quarter of fiscal 1997 and $759,000 in the third
         quarter of fiscal 1996, increased $1.4 million, or 47.5%, compared to
         the same period a year earlier.  For the first nine months of fiscal
         1997, research and development expenses (exclusive of internally
         developed software costs),which consist primarily of labor costs,
         increased $2.5 million, or 48.6%, compared to the same period a year
         earlier. Actual research and development expenditures for the first
         nine months of fiscal 1997, including internally developed software
         costs of $3.2 million, increased $4.6 million, or 71.7%, compared to
         the same period a year earlier.  The increase in absolute dollars for
         both the three-month and nine-month periods is primarily due to
         Fidelio product development.

         Purchased incomplete software technology was a result of the one-time
         $14.8 million charge taken in the second quarter of fiscal 1996
         associated with the acquisition of Fidelio.

         Income from operations for the third quarter of fiscal 1997 was $7.9
         million, or 14.0% of revenue, compared to income of $2.7 million in
         the same period a year earlier.  For the first nine months of fiscal
         1997, income from operations was $19.8 million compared to a loss of
         $2.2 million a year earlier or income of $12.6 million excluding the
         one-time write-off mentioned above.  For both the third quarter and
         first nine months of fiscal 1997, the Company's higher income from
         operations is primarily due to higher sales and improved gross
         margins.

         Interest income for the third quarter of fiscal 1997 increased
         $33,000 to $99,000, or 50.0%, compared to $66,000 for the third
         quarter of fiscal 1996. The increase in interest income for the period
         is primarily due to the improvement in the Company's cash position
         compared to a year ago when it reduced its cash balances to purchase
         Fidelio.  Interest expense decreased $278,000 to $356,000 for the
         third quarter of fiscal 1997 from $634,000 for the same period a year
         ago as the Company reduced its debt obligations.  Interest income for
         the first nine months in fiscal 1997 was $318,000 compared to
         $668,000, a decrease of 52.4%, for the comparable period in fiscal
         1996 primarily as a result of lower investment balances during fiscal
         1997.  Interest expense for the first nine months in fiscal 1997 was
         $1,139,000 compared to $1,087,000, an increase of 4.8%, for the
         comparable period in fiscal 1996 primarily due to the increase in the
         Company's overall debt during the first nine months of fiscal 1997 in
         comparison to the same period in fiscal 1996.

         The effective tax rate for the third quarter of fiscal 1997 is 40.0%
         compared to 38.5% for the same quarter a year earlier.  For the first
         nine months of fiscal 1997, the effective tax rate is 40.0% compared
         to a benefit of 81.6% for the first nine months of fiscal 1996.
         Excluding the effect of the purchase of incomplete software
         technology expense and the related tax benefit, the nine month
         effective tax rate for fiscal 1996 would have been 37.4%.  The 
         increase is primarily due to a shift in the mix of earnings on a
         country-by-country basis to those countries with higher tax rates.

         Summary

         The Company has recently experienced rapid revenue growth at a rate
         that it believes has significantly exceeded that of the global market
         for point-of-sale
                          



                                       11
<PAGE>   12
         
                     MICROS SYSTEMS, INC. AND SUBSIDIARIES
                                   Form 10-Q
                      For the Quarter Ended March 31, 1997

         Results of Operations - Third Quarter and Nine Month Comparisons,
         Continued

         computer systems and property management information systems products
         for the hospitality industry, fueled in part by the acquisitions
         consummated in calendar year 1995.  Although the Company currently
         anticipates continued revenue growth at a rate in excess of such
         market, and therefore an increase in its overall market share, it does
         not expect to maintain growth at recent levels and there can be no
         assurance that any particular level of growth can be achieved.  In
         addition, due to the competitive nature of the market, the Company
         continues to experience gross margin pressure on its products, and the
         Company expects this to continue.  There can be no assurance that the
         Company will be able to continue to increase sufficiently sales of its 
         higher margin products, including software and services, to prevent 
         future declines in the Company's overall gross margin.

         Moreover, some of the statements contained herein not based on
         historic facts are forward looking statements that involve risks and
         uncertainties.  Past performance is not necessarily a strong or
         reliable indicator of future performance.  Actual results could differ
         materially from past results, estimates or projections.  Some of the
         additional risks and uncertainties are: product demand and market
         acceptance, including demand and acceptance for the new 3400 QSA and
         the new 3700 POS systems; achieving increased sales of higher margin
         software products; adverse economic or political conditions;
         unexpected currency fluctuations; impact of competitive products and
         pricing on margins; product development delays and technological
         difficulties, including those with respect to the Fidelio next
         generation integrated property management and central reservation
         system technologies; and controlling expenses.  Other risks are
         disclosed in the Company's releases and SEC filings, including the
         Company's 1997 10-Q filings for the quarters ended September 30 and
         December 31, 1996, and the Company's 1996 10-K.





                                       12
<PAGE>   13
                       REPORT OF INDEPENDENT ACCOUNTANTS



To the Board of Directors and
Shareholders of MICROS Systems, Inc.

We have reviewed the accompanying consolidated balance sheet of MICROS
Systems, Inc. and subsidiaries as of March 31, 1997, and the related
consolidated statement of operations for the three and nine month periods ended
March 31, 1997 and March 31, 1996 and the related consolidated statements of
cash flows for the nine month period ended March 31, 1997 and March 31, 1996. 
These financial statements are the responsibility of the Company's management.

We conducted our review in accordance with standards established by the
American Institute of Certified Public Accountants.  A review of interim
financial information consists principally of applying analytical procedures to
financial data and making inquiries of persons responsible for financial and
accounting matters.  It is substantially less in scope than an audit conducted
in accordance with generally accepted auditing standards, the objective of
which is the expression of an opinion regarding the financial statements taken
as a whole.  Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material modifications that should
be made to the accompanying financial statements for them to be in conformity
with generally accepted accounting principles.

We previously audited in accordance with generally accepted auditing standards,
the consolidated balance sheet as of June 30, 1996, and the related
consolidated statements of operations, cash flows and shareholders' equity for
the year then ended (not presented herein), and in our report dated September
20, 1996 we expressed an unqualified opinion on those consolidated financial
statements.  In our opinion, the accompanying consolidated balance sheet
information as of June 30, 1996, is fairly stated in all material respects in
relation to the consolidated balance sheet from which it has been derived.


PRICE WATERHOUSE LLP


Linthicum, Maryland
May 14, 1997

THE ABOVE REPORT IS NOT A "REPORT" WITHIN THE MEANING OF SECTIONS 7 AND 11 OF
THE SECURITIES ACT OF 1933 AND THE INDEPENDENT ACCOUNTANTS LIABILITY PROVISIONS
OF SECTION 11 OF THE ACT DO NOT APPLY.





                                       13
<PAGE>   14
                     MICROS SYSTEMS, INC. AND SUBSIDIARIES

                                   Form 10-Q

                      For the Quarter Ended March 31, 1997

                          Part II - Other Information


Item 1.  Legal Proceedings.

         On March 25, 1997, Budgetel Inns, Inc. ("Budgetel") filed suit against
MICROS in the United States Federal District Court in the Eastern District of
Wisconsin.  Budgetel alleges, among other things, that MICROS breached a March
1993 software support agreement by failing to provide full support to this
software package licensed to Budgetel in 1993.  MICROS will defend against
Budgetel's allegations.  While the ultimate outcome of litigation is uncertain,
and while litigation is difficult to predict, the Company believes that this
litigation will have no material adverse effect on the Company's results of
operations or financial position.

Items 2 through 4.

         No events occurred during the quarter covered by the report that would
require a response to any of these items.

Item 5.  Other Information





                                       14
<PAGE>   15
                     MICROS SYSTEMS, INC. AND SUBSIDIARIES

                                   Form 10-Q

                      For the Quarter Ended March 31, 1997

                     Part II - Other Information, continued


Item 6.  Exhibits and Reports on Form 8-K

         (a)     Exhibits

                 Exhibit 11 - Computation of Earnings Per Share

                 Exhibit 15 - Letter Regarding Unaudited Interim Financial
                              Information

                 Exhibit 27 - Financial Data Schedule

         (b)     Reports on Form 8-K - None





                                       15
<PAGE>   16
                     MICROS SYSTEMS, INC. AND SUBSIDIARIES

                                   Form 10-Q

                      For the Quarter Ended March 31, 1997


Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.



                                          MICROS SYSTEMS, INC.
                                       -----------------------
                                             (Registrant)
                                       
May 15, 1997                           s/ Gary C. Kaufman
------------                              ---------------
                                       Gary C. Kaufman
                                       Senior Vice President, Finance and
                                       Administration/Chief Financial Officer
                                       
                                       
May 15, 1997                           s/ Roberta J. Watson
------------                              -----------------
                                       Roberta J. Watson
                                       Vice President and Controller





                                       16
<PAGE>   17
                                EXHIBIT INDEX
<TABLE>
<CAPTION>
                                                              Sequentially
Exhibit                                                       Numbered Page
-------                                                       -------------

<S>                       <C>                                      <C>
11.                       Computation of Earnings Per Share        18

15.                       Letter regarding Unaudited Interim       19
                          Financial Information

27.                       Financial Data Schedule                  
</TABLE>





                                       17