<PAGE>   1


                                    Form 10-Q

                                  UNITED STATES
                       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, 2000
                          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)

          7031 Columbia Gateway Drive, Columbia, Maryland     21046-2289
        -----------------------------------------------------------------
            (Address of principal executive offices)          (Zip code)

        Registrant's telephone number, including area code:   443-285-6000
                                                              ------------

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, 2000, there were 17,246,290 shares of Common Stock, $0.025 par
value, outstanding.



                                       1
<PAGE>   2


                      MICROS SYSTEMS, INC. AND SUBSIDIARIES

                                    Form 10-Q

                      For the Quarter Ended March 31, 2000

                         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 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, 1999 and its Forms 10-Q for the
quarters ended September 30, 1999 and December 31, 1999, as filed with the
Securities and Exchange Commission.



                                       2
<PAGE>   3


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

<TABLE>
<CAPTION>
                                                                      March 31,           June 30,
                                                                        2000                1999
                                                                      ---------           ---------
<S>                                                                   <C>                 <C>
ASSETS
Current assets:
     Cash and cash equivalents                                        $  35,759           $  22,806
     Accounts receivable, net of allowance for doubtful
        accounts of $4,482 at March 31,
        2000 and $3,618 at June 30, 1999                                106,601             101,019
     Inventories                                                         40,595              32,605
     Deferred income taxes                                                5,633               5,637
     Prepaid expenses and other current assets                           12,440              11,040
                                                                      ---------           ---------
           Total current assets                                         201,028             173,107

Property, plant and equipment, net of accumulated
     depreciation and amortization of $29,131 at
     March 31, 2000 and $23,720 at June 30, 1999                         20,096              15,687
Deferred income taxes, non-current                                        3,942               4,186
Goodwill and intangible assets, net of accumulated
     amortization of $11,729 at March 31, 2000
     and $8,946 at June 30, 1999                                         28,131              16,255
 Purchased and internally developed software costs,
     net of accumulated amortization of $11,241 at
     March 31, 2000 and $9,258 at June 30, 1999                          25,618              22,607
Other assets                                                                325                 288
                                                                      ---------           ---------

Total assets                                                          $ 279,140           $ 232,130
                                                                      =========           =========

LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
     Bank lines of credit                                             $      --           $       8
     Current portion of long-term debt                                      230                 357
     Current portion of capital lease obligations                            21                  98
     Accounts payable                                                    29,036              28,041
     Accrued expenses and other current liabilities                      37,577              38,195
     Income taxes payable                                                 7,914              14,113
     Deferred income taxes                                                  782                 754
     Deferred service revenue                                            22,594              16,240
                                                                      ---------           ---------
           Total current liabilities                                     98,154              97,806

Other liabilities, non-current                                                5                  --
Long-term debt, net of current portion                                    2,444               5,368
Capital lease obligations, net of current portion                           400                 325
Deferred income taxes, non-current                                        8,071               8,098
Minority interests                                                        1,565               1,260
                                                                      ---------           ---------
           Total liabilities                                            110,639             112,857
                                                                      ---------           ---------
Commitments and contingencies
Shareholders' equity:
     Common stock, $0.025 par; authorized
       50,000 shares; issued and outstanding 17,246
       at March 31, 2000 and 16,207 at June 30, 1999                        431                 405
     Capital in excess of par                                            50,670              22,298
     Retained earnings                                                  126,792             102,860
     Accumulated other comprehensive income                              (9,392)             (6,290)
                                                                      ---------           ---------
           Total shareholders' equity                                   168,501             119,273
                                                                      ---------           ---------

Total liabilities and shareholders' equity                            $ 279,140           $ 232,130
                                                                      =========           =========
</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,
                                                              ----------------------------
                                                                2000                 1999
                                                                ----                 ----
<S>                                                           <C>                  <C>
Revenue:
  Hardware and software                                       $ 55,711             $ 54,962
  Service                                                       36,242               30,159
                                                              --------             --------
Total revenue                                                   91,953               85,121
                                                              --------             --------
Costs and expenses:
  Cost of sales
       Hardware and software                                    20,265               27,986
       Service                                                  19,726               13,913
                                                              --------             --------
  Total cost of sales                                           39,991               41,899


  Selling, general and administrative
       expenses                                                 27,325               24,082
  Research and development expenses                              4,491                3,591
  Depreciation and amortization                                  3,167                2,456
                                                              --------             --------
Total costs and expenses                                        74,974               72,028
                                                              --------             --------

Income from operations                                          16,979               13,093

Non-operating income (expense):
  Interest income                                                  261                  144
  Interest expense                                                 (43)                (496)
  Other income, net                                                289                  519
                                                              --------             --------

Income before taxes, minority interests and
  equity in net earnings of affiliates                          17,486               13,260

Income taxes                                                     7,081                5,303
                                                              --------             --------
Income before minority interests and equity in
  net earnings of affiliates                                    10,405                7,957

Minority interest and equity in net
  earnings of affiliates                                          (181)                (269)
                                                              --------             --------

Net income                                                    $ 10,224             $  7,688
                                                              ========             ========

Net income per common share:
  Basic                                                       $   0.60             $   0.48
                                                              ========             ========
  Diluted                                                     $   0.56             $   0.45
                                                              ========             ========

Weighted-average number of shares outstanding:
  Basic                                                         17,080               16,141
                                                              ========             ========
  Diluted                                                       18,356               17,044
                                                              ========             ========
</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,
                                                                ---------------------------
                                                                 2000                 1999
                                                                 ----                 ----
<S>                                                           <C>                   <C>
Revenue:
  Hardware and software                                       $ 172,890             $ 147,517
  Service                                                       109,239                84,837
                                                              ---------             ---------
Total revenue                                                   282,129               232,354
                                                              ---------             ---------

Costs and expenses:
  Cost of sales
       Hardware and software                                     84,166                75,277
       Service                                                   55,189                40,915
                                                              ---------             ---------
  Total cost of sales                                           139,355               116,192


  Selling, general and administrative
       expenses                                                  79,499                66,184
  Research and development expenses                              12,676                10,899
  Office closure costs                                               --                   427
  Depreciation and amortization                                   8,862                 7,275
                                                              ---------             ---------
Total costs and expenses                                        240,392               200,977
                                                              ---------             ---------

Income from operations                                           41,737                31,377

Non-operating income (expense):
  Interest income                                                   682                   330
  Interest expense                                                 (479)               (1,786)
  Other (expense) income, net                                      (480)                   32
                                                              ---------             ---------

Income before taxes, minority interests and
  equity in net earnings of affiliates                           41,460                29,953

Income taxes                                                     16,787                11,980
                                                              ---------             ---------

Income before minority interests and equity in
  net earnings of affiliates                                     24,673                17,973

Minority interest and equity in net
  earnings of affiliates                                           (741)                 (564)
                                                              ---------             ---------

Net income                                                    $  23,932             $  17,409
                                                              =========             =========

Net income per common share:
  Basic                                                       $    1.44             $    1.08
                                                              =========             =========
  Diluted                                                     $    1.34             $    1.03
                                                              =========             =========

Weighted-average number of shares outstanding:
  Basic                                                          16,635                16,127
                                                              =========             =========
  Diluted                                                        17,880                16,982
                                                              =========             =========
</TABLE>


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



                                       5
<PAGE>   6


                      MICROS SYSTEMS, INC. AND SUBSIDIARIES
                 CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
                    For the Nine Months Ended March 31, 2000
                            (Unaudited, in thousands)

<TABLE>
<CAPTION>
                                                                                                    Accumulated
                                                Common Stock            Capital                        Other
                                               --------------          in Excess       Retained    Comprehensive
                                            Shares        Amount         of Par        Earnings        Income           Total
                                            ------        ------         ------        --------        ------           -----
<S>                                         <C>          <C>            <C>            <C>            <C>             <C>
Balance, June 30, 1999                      16,207       $    405       $ 22,298       $102,860       $ (6,290)       $119,273
Stock issued upon exercise of
  options                                    1,014             25         16,916             --             --          16,941
Stock issued for business
  acquisition                                   25              1            997             --             --             998
Income tax benefit from stock
  options exercised                             --             --         10,459             --             --          10,459
Comprehensive income
  Net income                                    --             --             --         23,932             --              --
  Foreign currency translation
    adjustments                                 --             --             --             --         (3,102)             --
Total comprehensive income                      --             --             --             --             --          20,830
                                          --------       --------       --------       --------       --------        --------
Balance, March 31, 2000                     17,246       $    431       $ 50,670       $126,792       $ (9,392)       $168,501
                                          ========       ========       ========       ========       ========        ========
</TABLE>


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



                                       6
<PAGE>   7


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

<TABLE>
<CAPTION>
                                                                   Nine months ended March 31,
                                                                   ---------------------------
                                                                    2000               1999
                                                                    ----               ----
<S>                                                               <C>                 <C>
Net cash flows provided by operating activities:                  $ 17,530            $ 29,767
                                                                  --------            --------
Cash flows from investing activities:
     Purchases of property, plant and
       equipment                                                    (9,045)             (4,812)
     Proceeds on dispositions of property,
       plant and equipment                                              88                 757
     Internally developed software                                  (5,603)             (6,029)
     Dividends to minority owners                                     (103)                (69)
     Purchase of net district assets                                  (642)                 --
     Purchase of equity interest in investees                       (2,000)                 --
     Net cash paid for acquisitions, minority
       interests and contingent earn-out payments                  (11,831)             (1,675)
                                                                  --------            --------

          Net cash used in investing activities                    (29,136)            (11,828)
                                                                  --------            --------

Cash flows from financing activities:
     Principal payments on line of credit                           (9,108)            (17,894)
     Principal payments on long-term debt
       and capital lease obligation                                 (3,021)             (2,150)
     Proceeds from line of credit                                    9,100               3,898
     Proceeds from issuance of long term debt                           --               2,995
     Proceeds from issuance of stock                                16,941                 907
     Income tax benefit from stock options
       exercised                                                    10,459                 240
                                                                  --------            --------
          Net cash provided by (used in)
            financing activities                                    24,371             (12,004)
                                                                  --------            --------

Effect of exchange rate changes on cash                                188                 228
                                                                  --------            --------
Net increase in cash and cash equivalents                           12,953               6,163
Cash and cash equivalents at beginning of period                    22,806              13,592
                                                                  --------            --------
Cash and cash equivalents at end of period                        $ 35,759            $ 19,755
                                                                  ========            ========

Supplemental disclosures of cash flow
information:

     Cash paid during the period for:
          Interest                                                $    407            $  1,741
                                                                  ========            ========
          Income taxes                                            $  8,260            $  6,232
                                                                  ========            ========
</TABLE>


Supplemental schedule of non-cash financing and investing activities (in
thousands):

In October 1999, the Company acquired all of the stock of OPUS 2 Revenue
Technologies, Inc. ("OPUS"), pursuant to the terms of a stock purchase
agreement. Based in Portsmouth, New Hampshire, OPUS engages in the development,
marketing and sale of yield and revenue management software systems designed for
the hospitality industry. The purchase price of $4.8 million for OPUS consists
of an up-front payment of both cash of $3.8 million and MICROS stock valued at
$1.0 million. The Company issued 24,510 shares (in whole shares) of restricted
common stock to the former owners. An additional payment of $.5 million was paid
in January 2000 for the purchase of Opus. Goodwill related to this acquisition
was $6.2 million at March 31, 2000, and is being amortized over seven years.
Additionally, the former shareholders have the right to earn: (i) three earn-out
payments based on OPUS revenues, for the three periods ending 9 months, 21
months, and 33 months after the closing of the transaction; and (ii) a
performance payment based on the completion of the development of certain new
software. The pro forma effects of this acquisition are immaterial and are not
presented.

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



                                       7
<PAGE>   8


                      MICROS SYSTEMS, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                      For the Quarter Ended March 31, 2000
                (Unaudited, in thousands, except per share data)

1.     Inventories

       The components of inventories are as follows:


<TABLE>
<CAPTION>
                                         March 31,           June 30,
                                            2000                1999
                                         ---------           ---------
<S>                                      <C>                 <C>
Raw materials                            $   6,123           $   4,784
Work-in-process                              2,066               2,053
Finished goods                              32,406              25,768
                                         ---------           ---------
                                         $  40,595           $  32,605
                                         =========           =========
</TABLE>


2.     New accounting standards

       In June 1998, the Financial Accounting Standards Board issued Statement
       of Financial Accounting Standards (SFAS) No. 133, "Accounting for
       Derivative Instruments and Hedging Activities". SFAS No. 133 establishes
       a new model for accounting for derivatives and hedging activities. The
       Company is currently evaluating the impact, if any, of SFAS No. 133.

       In December 1999, the Securities and Exchange Commission issued Staff
       Accounting Bulletin ("SAB") No. 101, "Revenue Recognition in Financial
       Statements". This statement will not have an impact on the Company's
       consolidated financial position, results of operations or cash flows.

3.     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 filed its answer to the complaint in September of 1999. MICROS
       also filed a counterclaim against Budgetel, alleging breach of contract
       and defamation. Although the discovery phase of the litigation has been
       substantially completed, no trial date has been scheduled. While the
       ultimate outcome of litigation is uncertain, and while litigation is
       inherently difficult to predict, the Company is of the opinion, based
       upon presently available information and the advice of counsel concerning
       pertinent legal matters, that resulting liability, if any, should not
       have a material adverse effect on the Company's results of operations or
       financial position.



                                       8
<PAGE>   9


                      MICROS SYSTEMS, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                      For the Quarter Ended March 31, 2000
                (Unaudited, in thousands, except per share data)

4.     Net income per share

       Basic net income per common share is computed by dividing net income by
       the weighted-average number of shares outstanding. Diluted net income per
       share includes the dilutive effect of stock options.

       A reconciliation of weighted average of common shares outstanding
       assuming dilution is as follows:

<TABLE>
<CAPTION>
                                                    Three Months Ended                Nine Months Ended
                                                          March 31,                        March 31,
                                                   2000             1999              2000            1999
                                                   ----             ----              ----            ----
<S>                                               <C>              <C>              <C>              <C>
Net income                                        $10,224          $ 7,688          $23,932          $17,409
                                                  =======          =======          =======          =======

Average common shares outstanding                  17,080           16,141           16,635           16,127

Dilutive effect of outstanding
  stock options                                     1,276              903            1,245              855
                                                  -------          -------          -------          -------

Average common shares outstanding
  assuming dilution                                18,356           17,044           17,880           16,982
                                                  =======          =======          =======          =======

Basic net income per share                        $  0.60          $  0.48          $  1.44          $  1.08
                                                  =======          =======          =======          =======
Diluted net income per share                      $  0.56          $  0.45          $  1.34          $  1.03
                                                  =======          =======          =======          =======
</TABLE>

       For the three-month period ended March 31, 2000, no options were excluded
       from the above reconciliation, as none were anti-dilutive. For the
       nine-month period ended March 31, 2000, 325 (thousand) options were
       excluded from the above reconciliation as these options were
       anti-dilutive for this period. For the three and nine-month periods ended
       March 31, 1999, 9 (thousand) options and 5 (thousand) options,
       respectively, were excluded from the above reconciliation as these
       options were anti-dilutive for these periods.

5.     Segment reporting data

       The Company develops, manufactures, sells and services point-of-sale
       computer systems, property management systems, central reservation and
       central information systems products for the hospitality industry. The
       Company's principal customers are lodging and food service-related
       businesses. MICROS is organized and operates in two segments: U.S. and
       International. The international segment is primarily in Europe and the
       Pacific Rim. For purposes of applying SFAS No. 131, "Disclosures about
       Segments of an Enterprise and Related Information," we consider the U.S.
       and International products and services to be similar; however,
       management views them separately in operating the business. The following
       information is presented in accordance with the requirements of SFAS No.
       131. Prior period amounts have been restated in accordance with the
       requirements of the new standard.



                                       9
<PAGE>   10


                      MICROS SYSTEMS, INC. AND SUBSIDIARIES
                   NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                      For the Quarter Ended March 31, 2000
                (Unaudited, in thousands, except per share data)

5.  Segment reporting data, continued

       A summary of the Company's operating segments is as follows (in
thousands):


<TABLE>
<CAPTION>
                                                   Three Months Ended                     Nine Months Ended
                                                        March 31,                              March 31,
                                                 2000               1999               2000                 1999
                                                 ----               ----               ----                 ----
<S>                                           <C>                 <C>                 <C>                 <C>
Revenues (1):
   United States                              $  41,746           $  46,167           $ 140,470           $ 117,074
   International                                 63,092              49,486             178,974             146,838
   Intersegment eliminations                    (12,885)            (10,533)            (37,315)            (31,558)
                                              ---------           ---------           ---------           ---------

     Total revenues                           $  91,953           $  85,121           $ 282,129           $ 232,354
                                              =========           =========           =========           =========

Income before taxes, minority
interests, and equity in net
earnings of affiliates (1):
   United States                              $   5,662           $   4,675           $   8,073           $   5,068
   International                                 20,120              15,619              58,169              45,725
   Intersegment eliminations                     (8,296)             (7,034)            (24,782)            (20,840)
                                              ---------           ---------           ---------           ---------
     Total income before taxes,
     minority interests, and
     equity in net earnings of
     affiliates                               $  17,486           $  13,260           $  41,460           $  29,953
                                              =========           =========           =========           =========
</TABLE>



<TABLE>
<CAPTION>
                                                   Mar 31,          Jun 30,
                                                    2000             1999
                                                    ----             ----
<S>                                               <C>               <C>
Identifiable assets (2):
   United States                                  $148,258          $122,588
   International                                   130,882           109,542
   Intersegment eliminations                            --                --
                                                  --------          --------

     Total identifiable assets                    $279,140          $232,130
                                                  ========          ========
</TABLE>

(1) Amounts based on the location of the customer.

(2) Amounts based on the location of the selling entity.



                                       10
<PAGE>   11


                      MICROS SYSTEMS, INC. AND SUBSIDIARIES
                                    Form 10-Q
                      For the Quarter Ended March 31, 2000

Item 2. Management's Discussion and Analysis of Financial Condition and Results
        of Operations

Results of Operations - Third Quarter and Nine Month Comparisons

       The Company recorded diluted net income of $0.56 per common share in the
third quarter of fiscal 2000, compared with diluted net income of $0.45 per
common share in the third quarter of fiscal 1999. Net income for the nine months
ended March 31, 2000, on a diluted basis, was $1.34 per share compared with
$1.03 per common share for the first nine months of fiscal 1999. For the
quarter, the increased net income was primarily due to higher sales volumes and
lower cost of sales as a percentage of revenue, partially offset by higher
operating expenses as a percentage of sales. The year-to-date increase in net
income was primarily due to higher sales volumes along with lower operating
expenses as a percentage of sales.

       Revenue of $92.0 million for the third quarter of fiscal 2000 increased
$6.8 million, or 8.0%, compared to the same period last year. For the first nine
months of fiscal 2000, revenue increased $49.8 million to $282.1 million, or
21.4%, over the same period in fiscal 1999. A comparison of the sales mix for
fiscal years 2000 and 1999 is as follows:


<TABLE>
<CAPTION>
                             Three Months Ended             Nine Months Ended
                                 March 31,                      March 31,
                           2000            1999            2000            1999
                           ----            ----            ----            ----
<S>                      <C>             <C>             <C>             <C>
Hardware                   35.3%           44.3%           41.5%           43.7%
Software                   25.3%           20.3%           19.8%           19.8%
Service                    39.4%           35.4%           38.7%           36.5%
                          -----           -----           -----           -----
                          100.0%          100.0%          100.0%          100.0%
                          =====           =====           =====           =====
</TABLE>

       For the quarter, hardware sales decreased in absolute dollars and as a
percentage of total revenue over the prior year primarily due to decreased
demand for the Company's 8700 series and computer equipment. Software sales
increased in absolute dollars and as a percentage of total revenue primarily due
to the sale of large hotel software contracts in the third quarter of fiscal
2000 compared to fiscal 1999. Service sales increased in absolute dollars and as
a percentage of total sales for the third quarter in comparison to the prior
year primarily due to increased maintenance revenues associated with new and
existing customers. On a year-to-date basis, hardware sales decreased as a
percentage of total sales while software sales remained constant as a percentage
of total sales. Hardware sales increased in absolute dollars, however decreased
as a percentage of total sales primarily due to the hardware growth rate being
lower than the growth rate of the service business. Service sales increased in
absolute dollars and as a percentage of total sales on a year-to-date basis
primarily due to increased installation and support revenues.

       Combined hardware and software revenues for the third quarter of fiscal
2000 increased $0.7 million, or 1.4%, while service revenues increased $6.1
million, or 20.2%, over the same period a year earlier. On a year-to-date basis,
hardware and software sales increased $25.4 million, or 17.2%, while service
revenues increased $24.4 million, or 28.8%, over the same period a year earlier.

       Cost of sales, as a percentage of revenue, decreased to 43.5% for the
third quarter of fiscal 2000 from 49.2% for the third quarter of fiscal 1999.
For the first nine months of fiscal 2000 and 1999, cost of sales, as a
percentage of revenue, was 49.4% and 50.0%, respectively. Cost of sales for
hardware and software products, as a percentage of related revenue, was 36.4% in
the third quarter of fiscal 2000 compared to 51.0% for the same quarter a year
earlier and 48.7% compared to 51.0%



                                       11
<PAGE>   12



                      MICROS SYSTEMS, INC. AND SUBSIDIARIES
                                    Form 10-Q
                       For the Quarter Ended March 31, 2000

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

for the first nine months of fiscal 2000 and 1999, respectively. For the quarter
and year-to-date this decrease was primarily due to the third quarter sales
distribution mix of decreased sales in the lower margin point-of-sale major
account channel and increased sales in the higher margin international
subsidiaries and dealer channels. The decrease in cost of sales is also due to
higher software sales as a percentage of revenue as compared to prior fiscal
year.

       Service costs, as a percentage of service revenue, increased to 54.4% in
the third quarter of fiscal 2000 compared to 46.1% in the same quarter in fiscal
1999. Service costs, as a percentage of service revenue, increased to 50.5% in
the first nine months of fiscal 2000 compared to 48.2% for the same period in
fiscal 1999. The third quarter increase in comparison to the prior year was due
primarily to the decrease of the installation revenue of hardware. The
year-to-date increase in comparison to the prior year was due to additional
expenses incurred to resolve potential Year 2000 issues in the second quarter
and the decrease of installation revenue in the third quarter.

       Selling, general and administrative expenses increased $3.2 million, or
13.5%, in the third quarter of fiscal 2000 compared to the same period last
year. As a percentage of revenue, selling, general and administrative expenses
increased to 29.7% in the third quarter of fiscal 2000 compared to 28.3% in the
third quarter of fiscal 1999 due primarily to increased personnel costs required
to meet current and anticipated sales growth. For the first nine months of
fiscal 2000, selling, general and administrative expenses, as a percentage of
revenue, were 28.2% compared to 28.5% for the same period a year earlier. The
year-to-date decrease is due to sales growth at a rate in excess of these
expenses.

       Research and development expenses (exclusive of capitalized software
development costs), which consist primarily of internal and sub-contracted labor
costs, increased $0.9 million, or 25.1%, in the third quarter of fiscal 2000
compared to the same period a year earlier. Actual research and development
expenditures, including capitalized software development costs of $2.4 million
in the third quarter of fiscal 2000 and $1.5 million in the third quarter of
fiscal 1999, increased $1.8 million, or 35.4%, compared to the same period a
year earlier. This increase in absolute dollars for the three-month period is
primarily due to increased expenditures in the Company's restaurant business.
For the first nine months of fiscal 2000 compared to fiscal 1999, research and
development expenses (exclusive of capitalized software development costs),
which consist primarily of internal and sub-contracted labor costs, increased
$1.8 million, or 16.3%, compared to the same period a year earlier. Actual
research and development expenditures for the first nine months of fiscal 2000,
including capitalized software development costs of $5.6 million in 2000 and
$6.0 million in 1999, increased $1.4 million, or 8.0%, compared to the same
period a year earlier. The increase in absolute dollars for the nine-month
period is primarily due to increased expenditures for the Company's restaurant
business.

       Office closure costs relate to follow-on costs incurred in the first
quarter of fiscal 1999 associated with the Company's fourth quarter of fiscal
1998 permanent closure of its facility in Munich, Germany. These costs relate to
the relocation of former Munich employees to their new places of employment
within the Company.

       Income from operations for the third quarter of fiscal 2000 was $17.0
million, or 18.5% of revenue, compared to income of $13.1 million, or 15.4% of
revenue, in the same period a year earlier. For the first nine months of fiscal
2000, income from



                                       12
<PAGE>   13



                      MICROS SYSTEMS, INC. AND SUBSIDIARIES
                                    Form 10-Q
                       For the Quarter Ended March 31,2000

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

operations was $41.7 million compared to income of $31.4 million a year earlier.
The third quarter income from operations increased over the prior year's
comparable period due to higher sales and increased gross margins, partially
offset by higher operating expenses as a percentage of sales. For the first nine
months of fiscal 2000, the Company's higher dollar income from operations is
primarily due to higher sales and lower operating expenses as a percentage of
sales.

       Interest expense decreased $0.5 million, or 91.3%, for the third quarter
of fiscal 2000 compared to the same period a year ago. Interest expense for the
first nine months in fiscal 2000 was $0.5 million compared to $1.8 million, a
decrease of 73.2%, for the comparable period in fiscal 1999. The quarter and
year-to-date decrease was primarily due to the Company's lower average debt
level during fiscal 2000 in comparison to the same period a year ago. Interest
income increased $0.1 million for the third quarter of fiscal 2000 compared to
the same period a year ago. Interest income for the first nine months in fiscal
2000 was $0.7 million compared to $0.3 million, an increase of 106.7%, for the
comparable period in fiscal 1999. The quarter and year-to-date increase is due
primarily to the Company's higher average cash balance during fiscal year 2000
compared to fiscal year 1999.

       The effective tax rate for the third quarter and year-to-date of fiscal
year 2000 was 40.5% compared to 40.0% for the third quarter and year-to-date of
fiscal year 1999. The increase is due to a shift in the mix of earnings towards
countries with higher tax rates.

Year 2000

       In 1997, the Company created a corporate-wide Year 2000 project team
representing all business units of the Company. The "Year 2000 Issue" is the
result of computer programs being written using two digits rather than four to
define the applicable year. Any of the Company's computer programs that have
time-sensitive software may recognize a date using "00" as the year 1900 rather
than the year 2000. The team was divided into three segments, each of which was
tasked with analyzing one of the following three sets of issues: (i) Year 2000
compliance issues with respect to Company internal information technology
systems and non-information technology systems; (ii) Year 2000 compliance issues
with respect to the information systems of certain key Company vendors and
suppliers; and (iii) Year 2000 compliance issues with respect to Company
products that the Company sells and licenses to its worldwide customer base.

       On the basis of information currently available, MICROS believes that it
did not experience any material problems relating to the Year 2000 issues. While
MICROS did uncover certain minor issues relating to date dependent data, none
were material and all were promptly addressed. Accordingly, the Year 2000 task
force had been disbanded in February 2000. Any remaining issues that may surface
will be handled through the Company's customer service organization.
Nonetheless, the Company will continue to monitor products to attempt to assure
that there are no uncorrected problems. While the Company believes it has
diligently addressed the Year 2000 issues and that it has satisfactorily
resolved any Year 2000 problems, it is possible hitherto undetected problems
could be uncovered in the future.

Year 2000 Compliance Costs

       To date, the Company has expensed all incremental costs related to the
Year 2000 analysis and remediation efforts. Internal and external costs
specifically associated with modifying software for the Year 2000 have been
charged to expense as



                                       13
<PAGE>   14



                      MICROS SYSTEMS, INC. AND SUBSIDIARIES
                                    Form 10-Q
                       For the Quarter Ended March 31,2000

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

incurred. All of these costs were funded through operating cash flows.
Management's current estimate (including the Year 2000 issues identified to
date) is that the costs associated with the Year 2000 issue should not have a
material adverse effect on the results of operations or financial position of
the Company in any given quarter. To date, not including the costs incurred to
upgrade the Company's internal management information systems, the Company has
incurred approximately $2.2 million in expenditures related to the Year 2000
issue. Costs capitalized to date to implement the Company's new Year 2000
compliant internal management information systems, which address a large variety
of informational and processing needs, are approximately $8.8 million.

Euro Conversion

       On January 1, 1999, certain member nations of the European Economic and
Monetary Union ("EMU") adopted a common currency, the Euro. For a three-year
transition period, both the Euro and individual participants' currencies will
remain in circulation. After June 30, 2002, the Euro will be the sole legal
tender for EMU countries. The adoption of the Euro will affect a multitude of
financial systems and business applications as the commerce of these nations
will be transacted in the Euro and the existing national currency during the
transition period. As of March 31, 2000, of the eleven countries currently
admitted to the EMU, the Company has subsidiary operations in six of those
countries and distributor relationships in the remaining five countries.

       MICROS is currently addressing Euro related issues and its impact on
information systems, currency exchange rate risk, taxation, contracts,
competition and pricing. Action plans currently being implemented are expected
to result in compliance with all laws and regulations; however, there can be no
certainty that such plans will be successfully implemented or that external
factors will not have an adverse effect on the Company's operations. Moreover,
there is still some uncertainty with respect to the interpretation of certain
Euro regulations, and the impact of the regulations on the Company's Euro
implementation. Any costs associated with the adoption of the Euro will be
expensed as incurred and the Company currently does not expect these costs to be
material to its results of operations, financial condition or liquidity.

Liquidity and Capital Resources

       The Company has a $45.0 million multi-currency unsecured committed line
of credit, which was renewed during the second quarter of fiscal 2000 for an
additional one-year period, expiring on December 31, 2000. The line of credit
was increased from $35.0 million to $45.0 million pursuant to an amendment
entered into during the second quarter of fiscal 1999. The Company has the
one-time option to convert the line of credit into a three-year secured term
loan upon expiration of the line of credit. In addition, the Company has a
credit facility from a European bank in the amount of DM 15.0 million
(approximately $7.3 million at the March 31, 2000 exchange rate). Under the
terms of this facility, the Company may, at its option, borrow in the form of a
line of credit or in the form of term debt.

       As of March 31, 2000, the Company had borrowed approximately $2.4 million
and has approximately $49.9 million available. There were no borrowings under
the line of credit. The Company's DM-denominated borrowings under these credit
facilities amounted to DM 5.0 million (approximately $2.4 million at the March
31, 2000 exchange rate).

       As the Company has significant international operations, its
DM-denominated borrowings do not represent a significant foreign exchange risk.
On an overall basis,



                                       14
<PAGE>   15


                      MICROS SYSTEMS, INC. AND SUBSIDIARIES
                                    Form 10-Q
                       For the Quarter Ended March 31,2000

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

the Company monitors its cash and debt positions in each currency in an effort
to reduce its foreign exchange risk.

       Net cash provided by operating activities for the nine months ended March
31, 2000 was $17.5 million. The Company used $29.1 million in investing
activities, primarily for acquisitions, the purchase of property, plant and
equipment and internally developed software. Net financing activities for the
first nine months of fiscal 2000 provided $24.4 million, primarily from the
issuance of common stock.

       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 property, plant and equipment expenditures for
fiscal 2000 will continue to increase approximately $8.0 million over fiscal
1999 expenditures, of which, approximately $4.7 million will be for the purchase
of furniture and fixtures and leasehold improvements for its new headquarters
building.

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 computer systems, property management information systems and
related products for the hospitality industry. 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 service offerings, 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 OPERA
products and the newest versions of the 3700 POS and 8700 systems; introduction
by competitors of less costly hardware products; implementation of a
cost-effective service structure capable of servicing increasingly complex
software systems in increasingly more remote locations; achieving increased
sales of higher margin software products; hiring and retention of qualified
employees with sufficient technical expertise, especially in light of tightened
labor markets; adverse economic or political conditions; unexpected currency
fluctuations and devaluation of those currencies in which the Company conducts
its business; impact of competitive products, including new Internet based
products; product development delays; technological difficulties associated with
new product releases, including those with respect to the next generation
Internet technologies; and controlling expenses. These and other risks are
disclosed in the Company's releases and SEC filings, including in the section
titled "Business and Investment Risks; Information Relating to Forward-Looking
Statements", in the Company's Annual Report on Form 10-K for the Fiscal Year
ended June 30, 1999.



                                       15
<PAGE>   16


                      MICROS SYSTEMS, INC. AND SUBSIDIARIES
                                    Form 10-Q
                      For the Quarter Ended March 31, 2000

Item 3. Quantitative and Qualitative Disclosures About Market Risk

       The Company has experienced rapid growth internationally. MICROS'
significant international business and presence exposes the Company to certain
market risks, such as currency, interest rate and political risks. With respect
to currency risk, the Company transacts business in over 28 different currencies
through its foreign subsidiaries. The fluctuation of currencies impacts sales
and profitability. Frequently, sales and the costs associated with such sales
are not always denominated in the same currency. Given the fact that the Company
transacts business in many different currencies, adverse declines in certain
currencies may at times be offset by favorable advances in other currencies.
Recent weakness in certain European currencies has, however, adversely impacted
the financial performance of the Company. Such weakness may have a continued
adverse effect on the financial performance of the Company. While the Company
has not to date invested in financial instruments designed to protect against
currency fluctuations, the Company will continue to evaluate the need to do so
in the future.

       Additionally, the Company is subject to interest rate fluctuations in
foreign countries to the extent that the Company elects to borrow in the local
foreign currency. In the past, this has not been an issue of concern as the
Company has the capacity to elect to borrow in other currencies with more
favorable interest rates. While the Company has not to date invested in
financial instruments designed to protect against interest rate fluctuations,
the Company will continue to evaluate the need to do so in the future.

       Further, the Company is subject to political risk, especially in
developing countries with uncertain or unstable political structures or regimes.
The Company is also subject to the effects of, and changes in, laws and
regulations, other activities of governments, agencies and similar
organizations, especially in light of the recent weak Asian economic conditions.
The Company does not believe at this time that it is exposed to unusual
political risk that could have a material adverse impact on the Company.

       Finally, the Company's unsecured committed line of credit bears interest
at a floating rate of interest. It does not invest in financial instruments
designed to protect against interest rate fluctuations, although it will
continue to evaluate the need to do so in the future.



                                       16
<PAGE>   17


                      MICROS SYSTEMS, INC. AND SUBSIDIARIES
                                    Form 10-Q
                      For the Quarter Ended March 31, 2000

                           Part II - Other Information

Item 1.    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 filed its answer to the
complaint in September of 1999. MICROS also filed a counterclaim against
Budgetel, alleging breach of contract and defamation. Although the discovery
phase of the litigation has been substantially completed, no trial date has been
scheduled. While the ultimate outcome of litigation is uncertain, and while
litigation is inherently difficult to predict, the Company is of the opinion,
based upon presently available information and the advice of counsel concerning
pertinent legal matters, that resulting liability, if any, should not have a
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

       In March 2000, MICROS commenced the relocation of its corporate
headquarters from Beltsville, Maryland to Columbia, Maryland. In accordance with
the terms of the lease agreement (the "Lease Agreement") between MICROS and Orix
Columbia, Inc., a wholly-owned subsidiary of Orix USA Corporation, MICROS shall
lease for a ten-year term the full 250,000 square foot building located on a
twenty acre parcel in Columbia, Maryland.

       The annual amount of the lease liabilities under the Lease Agreement
shall exceed the former corporate headquarters lease liabilities by
approximately $1.5 million per year, which represents an additional 73,000
square feet at $21.00 per square foot to accommodate recent and planned growth.
Moreover, MICROS has incurred and anticipates incurring certain additional
one-time expenses associated with the relocation to the new facility. These
one-time relocation expenses are approximately $0.6 million.

Item 6.    Exhibits and Reports on Form 8-K

           (a)       Exhibits

                     Exhibit 27 - Financial Data Schedule

           (b)       Reports on Form 8-K - None



                                       17
<PAGE>   18


                      MICROS SYSTEMS, INC. AND SUBSIDIARIES
                                    Form 10-Q
                      For the Quarter Ended March 31, 2000

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, 2000                         /s/ Gary C. Kaufman
---------------------                    ---------------
                                     Gary C. Kaufman
                                     Executive Vice President, Finance and
                                     Administration/Chief Financial Officer


May 15, 2000                         /s/ Roberta J. Watson
---------------------                    -----------------
                                     Roberta J. Watson
                                     Senior Vice President and Controller



                                       18
<PAGE>   19





                                  EXHIBIT INDEX

<TABLE>
<CAPTION>
                                                                     Sequentially
Exhibit                                                              Numbered Page
-------                                                              -------------
<S>                  <C>                                             <C>
27.                  Financial Data Schedule                              N/A
</TABLE>



                                       19