Cheesecake Factory’s 3rd-Quarter Profit Up 7%

Cheesecake Factory Inc., a restaurant chain based in Calabasas, reported a 7% increase in profit for its third quarter compared with a year earlier.

For the three months that ended Oct. 3, Cheesecake earned $1.22 million, up from $1.14 million in the comparable period a year earlier. The company, which went public in September, 1992, said revenue for the quarter rose 23% to $17.4 million, from $14.1 million a year earlier.

However, in the latest quarter the company said its same-store sales, or sales in restaurants opened at least a year, rose by less than 1%. The company operates seven restaurants, most of them in California.

For the nine months that ended Oct. 3, Cheesecake said its profit surged 29% to $3.47 million, from $2.7 million a year earlier. Revenue for the nine-month period totaled $48.6 million, up 24% from $39.3 million a year earlier.

Separately Monday, the company said it planned to open a 15,000-square-foot restaurant in Boca Raton, Fla., in late 1994. The company previously announced plans to open a restaurant in Atlanta next month, and has signed leases for restaurants in North Bethesda, Md., and Miami. Cheesecake also has letters of intent to open restaurants in Houston, Chicago and Las Vegas.