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Darden Beats Analysts' Forecast by a Penny

ORLANDO-The world's largest casual seafood dining conglomerate is reporting first-quarter earnings of $62.2 million or 51 cents per diluted share on sales of $1.08 billion. Analysts had forecast a profit of 50 cents per share.

By Alex Finkelstein | Updated on September 21, 2001

ORLANDO-Darden Restaurants Inc., the locally based, 1,173-restaurant chain, continues to confound industry analysts as it reports first-quarter earnings of $62.2 million or 51 cents per diluted share on sales of $1.08 billion. Analysts had forecast a profit of 50 cents per share.

The company’s fiscal first quarter ended Aug. 26. The 51 cents per share was up 11% from the prior year and set a company record.

The $62.2 million after-tax earnings compared with $56.9 million or 46 cents per share on sales of $1.02 billion in first quarter 2000. Sales were up 6.2%.

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