ORLANDO, Fla. (AP) — ORLANDO, Fla. (AP) — Darden Restaurants Inc. (DRI) on Friday reported fiscal fourth-quarter net income of $303.8 million.
On a per-share basis, the Orlando, Florida-based company said it had net income of $2.58. Earnings, adjusted for asset impairment costs and non-recurring costs, came to $2.98 per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.96 per share.
The owner of Olive Garden and other chain restaurants posted revenue of $3.27 billion in the period, matching Street forecasts.
For the year, the company reported profit of $1.05 billion, or $8.86 per share. Revenue was reported as $12.08 billion.
Darden Restaurants expects full-year earnings to be $10.50 to $10.70 per share.
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