2005 Financial Highlights


Darden Restaurants
Fiscal Year Ended
(In millions, except per share amounts)
May 29, 2005
(52 weeks)
       May 30, 2004
(53 weeks)
       May 25, 2003
(52 weeks)
      

Sales    $ 5,278.1    $ 5,003.4    $ 4,655.0
Net Earnings $ 290.6 $ 227.2 $ 226.0
Net Earnings per Share:
   Basic
$ 1.85 $ 1.39 $ 1.33
   Diluted $ 1.78 $ 1.34 $ 1.27
Dividends Paid per Share $ 0.080 $ 0.080 $ 0.080
Average Shares Outstanding:
   Basic
156.7 163.5 170.3
   Diluted 163.4 169.7 177.4



As described in the table below, net earnings and diluted net earnings per share for fiscal 2004, excluding the asset impairment and restructuring charges associated with the closing of six Bahama Breeze restaurants and the write-down of the carrying value of four other Bahama Breeze restaurants, one Olive Garden restaurant, and one Red Lobster restaurant, were $250.2 million, or $1.47 per diluted share, on 53-week sales of $5.0 billion.

53 Weeks Ended May 30, 2004
(In thousands, except per share data)
Net Earnings     Diluted Net
Earnings Per Share
   

As reported    $ 227,173          $ 1.34      
Asset impairment and restructuring charge 23,053 0.13      

Adjusted $ 250,226 $ 1.47      




Business Description
Darden Restaurants, Inc. is the largest publicly traded casual dining restaurant company in the world, based on market share and revenues from company-owned restaurants. We serve more than 300 million meals annually at 1,381 restaurants in 49 states and Canada. Our four distinct restaurant concepts together generate annual sales of more than $5.2 billion. Red Lobster® and Olive Garden®, our flagship brands, are the market share leaders in their casual dining segments. Each produces sales of $2.4 billion annually, making Darden the only casual dining restaurant company with two restaurant concepts of this scale. Our emerging brands are Bahama Breeze® and Smokey Bones Barbeque & Grill®, and another concept, Seasons 52®, is in the test phase. Based in Orlando, Florida, we employ more than 150,000 people, and our Company trades on the New York Stock Exchange under the symbol DRI.