Cheesecake Factory Reports Profit Increase
The Cheesecake Factory Inc., a Calabasas-based chain of restaurants, reported a 39% increase in profit for the second quarter ended July 3.
The company’s profit in the latest quarter was $1.87 million, compared to net income of $1.35 million for the same three-month period a year ago. Revenue in the June quarter was $20.4 million, up 18% from revenue of $17.4 million in the year-earlier quarter.
For the first six months of 1994, Cheesecake Factory posted earnings of $3.18 million on revenue of $39.2 million, compared to net income of $2.25 million on revenue of $31.2 million a year earlier.
Revenue and profit growth was fueled by the continued expansion of the chain, the company said. Cheesecake Factory has nine restaurants, in Washington, D.C.; Bethesda, Md.; Atlanta, Ga., and California.