Exhibit 99
Red Lobster Olive Garden LongHorn Steakhouse The Capital Grille
Bahama Breeze Seasons 52 Eddie V's Yard House

www.darden.com
 
NEWS/INFORMATION
 
Corporate Relations
 
P.O. Box 695011
 
Orlando, FL 32869-5011
FOR RELEASE
Contacts:
 
June 20, 2014
(Analysts) Matthew Stroud
(407) 245-5288
7:00 AM ET
(Media) Bob McAdam
(407) 245-5366

DARDEN RESTAURANTS REPORTS FOURTH QUARTER AND FISCAL YEAR DILUTED NET EARNINGS PER SHARE AND DECLARES ITS QUARTERLY DIVIDEND

ORLANDO, FL, June 20 - Darden Restaurants, Inc. (NYSE: DRI) today reported earnings and sales results for the fourth quarter and fiscal year ended May 25, 2014. Headlines include:

Fourth Quarter Earnings Per Share and Total Sales

Fourth quarter diluted net earnings per share were 65 cents, which compares to $1.01 in last year’s fourth quarter. The Company estimates that diluted net earnings per share for the fourth quarter of this year were adversely affected by approximately 19 cents due to legal, financial advisory and other costs related to implementation of the strategic action plan Darden announced in December 2013 and charges related to various asset impairments. Fourth quarter total sales from continuing and discontinued operations were $2.32 billion, which compares to $2.30 billion in the fourth quarter last year. As a result of the pending sale of Red Lobster, operating results for Red Lobster are included in discontinued operations for all periods presented. However, the Company did not allocate any general and administrative operating support expenses to net earnings from discontinued operations.

Diluted net earnings per share in the fourth quarter of this year include 36 cents from continuing operations and 29 cents from discontinued operations. Of the approximately 19 cents that adversely affected diluted net earnings for this year’s fourth quarter, approximately 13 cents affected continuing operations and approximately six cents affected discontinued operations. Diluted net earnings per share for the fourth quarter of last year include 59 cents from continuing operations and 42 cents from discontinued operations.

Net earnings in the fourth quarter of this year were $86.5 million, which includes $48.4 million from continuing operations and $38.1 million from discontinued operations. Net earnings in the fourth quarter of last year were $133.2 million, and included $78.5 million from continuing operations and $54.7 million from discontinued operations.


Fourth quarter total sales from continuing and discontinued operations were $2.32 billion, which compares to $2.30 billion in the fourth quarter last year. Total sales for the fourth quarter of this year include sales of $1.65 billion from continuing operations and sales of $666.2 million from

1

The following information was filed by Darden Restaurants Inc (DRI) on Friday, June 20, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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