Restaurant chain operator Darden Restaurants, Inc. (
) late Monday said its second quarter profit jumped 24% from last
year, matching analysts' view, but its same-store sales fell short
The Orlando-based company reported fiscal second quarter net
income of $74.5 million, or 53 cents per share, compared with $60.3
million, or 43 cents per share, in the year-ago period. Excluding
items, profit from continuing operations was 54 cents per
Revenue rose 5% from last year to $1.73 billion.
On average, Wall Street analysts expected a matching profit of
54 cents per share, on matching revenue of $1.73 billion.
Same-store sales, or sales in restaurants open more than one
year, rose 1.4% from last year, below the company's forecast for a
Looking ahead, the company reaffirmed its previous 2011 guidance
for a 14% to 17% rise in full-year profit, with sales rising 5% to
Darden Restaurants shares fell $1.70, or -3.4%, in premarket
The Bottom Line
Shares of Darden Restaurants (
) have a 2.54% dividend yield, based on last night's closing stock
price of $50.43. The stock has technical support in the $45-$46
price area. The shares are trading near all-time highs and have
little overhead resistance.
Darden Restaurants, Inc. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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