Darden Restaurants Q2 Earnings Fall 28%, Missing View (DRI)

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Full service restaurant chain operator Darden Restaurants, Inc. ( DRI ) on Friday posted a 28% decline in fiscal second quarter earnings, missing analyst expectations.

The Orlando, FL-based company reported fiscal second quarter net income of $53.7 million, or 40 cents per share, compared with $74.5 million, or 53 cents per share, in the year-ago period.

Sales rose 5.7% from last year to $1.83 billion.

On average, Wall Street analysts expected a higher profit of 42 cents per share on matching revenue of $1.83 billion.

Looking ahead, the company reiterated its full-year 2012 forecast for earnings from continuing operations to rise 4% to 7% from last year, on 6% to 7% higher sales.

Darden Restaurants shares were mostly flat in premarket trading Friday.

The Bottom Line
Shares of Darden Restaurants ( DRI ) have a 3.93% dividend yield, based on last night's closing stock price of $43.74. The stock has technical support in the $40-$42 price area. If the shares can firm up, we see overhead resistance around the $46 price level.

Darden Restaurants, Inc. ( DRI ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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