ORLANDO, Fla. (AP) 鈥� ORLANDO, Fla. (AP) 鈥� Darden Restaurants Inc. (DRI) on Thursday reported fiscal fourth-quarter net income of $404.9 million.
The Orlando, Florida-based company said it had profit of $3.51 per share. Earnings, adjusted for asset impairment costs and non-recurring costs, were $3.66 per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $3.63 per share.
The owner of Olive Garden and other chain restaurants posted revenue of $3.72 billion in the period, missing Street forecasts. Nine analysts surveyed by Zacks expected $3.73 billion.
For the year, the company reported profit of $1.21 billion, or $10.38 per share. Revenue was reported as $13.21 billion.
Darden Restaurants expects full-year earnings to be $11.10 to $11.35 per share, with revenue in the range of $13.6 billion to $13.75 billion.
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