Cheesecake Factory Posts Quarterly Earnings Gain
The Cheesecake Factory Inc., a Calabasas-based restaurant chain, said its earnings in the fourth fiscal quarter that ended Jan. 1 were $2.08 million, up 62% from $1.28 million in the same period a year ago. Revenue for the quarter was $24.2 million, up 32% from $18.39 million a year ago.
For the full year, earnings increased 53% to $7.25 million from $4.75 million in the previous fiscal year. Revenues were up 28% to $85.6 million from $67 million.
The company attributed the profit gain to the growing popularity of its restaurants, particularly the success of its bakery business. Cheesecake Factory operates 11 restaurants in California, Washington, Georgia, Maryland and Florida.
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