UPDATE: Darden Posts Lower Q4 Profit

Darden Restaurants

reported a drop in its fourth-quarter profit. Darden's quarterly profit declined to $133.2 million, or $1.01 per share, versus $151.2 million, or $1.15 per share, in the year-ago period. Its revenue climbed to $2.30 billion from $2.07 billion. However, analysts were projecting earnings of $1.04 per share on revenue of $2.27 billion. Darden estimates 2014 diluted earnings per share to decline by 3% to 5%, while it expects sales to increase by 6% to 8%. Darden shares closed at $51.23 yesterday.