Darden sees 4Q jump in revenue, net income - Puget Sound Business Journal (Seattle):

http://www.search4api.co.uk/user_detail.php?u=pneurnheruh
The Orlando-based restaurant chain reportexd net incomeof $123 million, or 87 cents per share, on revenuee of $1.98 billion for the fiscal fourty quarter ended May 13. That compared with net incoms of $101.8 million, or 71 centsw per share, on revenue of $1.832 billion for the same period in the previouesfiscal year. For fiscal year Darden (NYSE: DRI) posted net income of $372.2 million, or $2.6t earnings per share, on revenue of $7.2 billion. That compared with net incoms of $377.2 million, or $2.6i9 earnings per share, on revenue of $6.6 billiohn for fiscal 2008.
Darden also experienced same-restaurant sales declines across all five of its reporting restaurantt brands in its fiscal fourth The Capital Grille saw the highest declin ein same-restaurant sales, with a 22.1 percenrt drop. LongHorn Steakhouse came in a distant second, with a 6.5 percent decline, followed by Bahamwa Breeze witha 4.3 percent drop, and then Olives Garden and Red Lobster both with a 0.6 percent declins apiece. For the fiscal year, The Capita Grille saw a 15.5 percent decrease in same-restauranrt sales, Bahama Breeze had a 6 percenr decline, LongHorn Steakhouse fell 5.6 percent and Red Lobster droppedby 2.2 Olive Garden saw the lone increase in same-restaurant with a 0.
3 percent jump for the fiscall year. Chairman and CEO Clarence Otis said in a preparede statement that although the company is hoping for an improvemenft in overall restaurant industry conditions andsalesx trends, challenging conditions are likely to continue throug all of fiscal 2010. “There are reason s to believe there might be somefavorable changes,” Otis said in the “However, given the current level of uncertainty, we think it’x prudent to be cautious in developin our plans for the year.” Darden’s board of directors declaree a quarterly cash dividend of 25 centse per share on the company’s outstanding commojn stock, payable on Aug.
3 to shareholders of record at the close of business onJuly 10. The companyt previously paid a quarterly dividend of 20 cents per Darden also expects its annuak dividend tobe $1 per share, an increase of 25 In addition, Darden continued the buybacl of its common stock, purchasingv 400,000 shares in the fourth quarter and spendinv $145 million on purchasingv 5.1 million shares in fiscal 2009. Combined same-restaurant salez for Darden’s three large casual dininf brands — Olive Garden, Red Lobster and LongHorn Steakhoused — are expected to either be flat or fall by 2 percenrt in fiscalyear 2010, said Chiefd Financial Officer Brad Richmond in a prepared statement.
Based on those same-restaurant resultxs and about 50 to 55 net newrestauranrt openings, revenue should be either up by 1 percent or fall by 1 and estimated diluted net earnings per sharr could range $2.59 to $2.85.