DRI FY 2009 Earnings Report — Darden Restaurants, Inc. Revenue & Financial Results | Market Cap Arena

Darden Restaurants, Inc.DRI

FY 2009 Earnings

Reported July 24, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$7.2B	—	—	—	—
Op. Income	$620M	—	—	—	—
Gross Margin	21.9%	—	—	—	—
Net Margin	5.2%	—	—	—	—
EPS (Diluted)	$2.65	—	—	—	—
Free Cash Flow	$247M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$7.2B
Cost of Revenue	$5.6B
GROSS PROFIT	$1.6B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$666M
Other Expenses	$295M
Operating Expenses	$961M
Cost & Expenses	$6.6B
OPERATING INCOME	$620M
Interest Income	$900.0K
Interest Expense	$108M
Other Income/Expenses	-$107M
INCOME BEFORE TAX	$513M
Income Tax Expense	$141M
Net Income from Continuing Ops	$372M
Net Income from Discontinued Ops	$400.0K
Other Adjustments	$0
NET INCOME	$372M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$372M
D&A	$283M
EBIT	$621M
EBITDA	$904M
EPS	$3
EPS Diluted	$3

Income Statement

Item	Amount
REVENUE	$7.2B
Cost of Revenue	$5.6B
GROSS PROFIT	$1.6B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$666M
Other Expenses	$295M
Operating Expenses	$961M
Cost & Expenses	$6.6B
OPERATING INCOME	$620M
Interest Income	$900.0K
Interest Expense	$108M
Other Income/Expenses	-$107M
INCOME BEFORE TAX	$513M
Income Tax Expense	$141M
Net Income from Continuing Ops	$372M
Net Income from Discontinued Ops	$400.0K
Other Adjustments	$0
NET INCOME	$372M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$372M
D&A	$283M
EBIT	$621M
EBITDA	$904M
EPS	$3
EPS Diluted	$3

Cash Flow Statement

Item	Amount
Net Income	$372M
Depreciation & Amortization	$283M
Stock-Based Compensation	$42M
Deferred Income Tax	$90M
Other Non-Cash Items	$66M
Change in Working Capital	-$69M
OPERATING CASH FLOW	$782M
Capital Expenditure	-$535M
Acquisitions (Net)	$9M
Purchases of Investments	-$42M
Sales/Maturities of Investments	$14M
Other Investing Activities	-$4M
NET CASH FROM INVESTING	-$558M
Net Debt Issuance	-$33M
Common Stock Repurchased	-$145M
Common Dividends Paid	-$110M
Other Financing Activities	$26M
NET CASH FROM FINANCING	-$205M
FREE CASH FLOW	$247M
Net Change in Cash	$20M

Balance Sheet

Item	Amount
Cash & Equivalents	$63M
Short-Term Investments	$0
Net Receivables	$37M
Inventory	$247M
Other Current Assets	$110M
TOTAL CURRENT ASSETS	$555M
PP&E (Net)	$3.3B
Goodwill	$519M
Intangible Assets	$454M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$191M
TOTAL NON-CURRENT ASSETS	$4.5B
TOTAL ASSETS	$5.0B
Account Payables	$237M
Short-Term Debt	$150M
Deferred Revenue	$138M
Other Current Liabilities	$132M
TOTAL CURRENT LIABILITIES	$1.1B
Long-Term Debt	$1.6B
Deferred Revenue NC	$155M
Deferred Tax Liabilities	$297M
Other Non-Current Liabilities	$180M
TOTAL NON-CURRENT LIABILITIES	$2.3B
TOTAL LIABILITIES	$3.4B
Common Stock	$0
Additional Paid-In Capital	$2.2B
Retained Earnings	$2.4B
Treasury Stock	-$2.9B
Accum. Other Comp. Income	-$57M
Other Equity	-$13M
TOTAL STOCKHOLDERS' EQUITY	$1.6B
Minority Interest	$0
TOTAL EQUITY	$1.6B
TOTAL LIABILITIES & EQUITY	$5.0B
Total Debt	$1.8B
Net Debt	$1.8B