LOS ANGELES, April 23 Cheesecake Factory Inc
on Wednesday reported quarterly profit that fell from a
year ago, due to severe winter weather, a holiday shift and
costs associated with the pending settlement of a legal claim.
Shares of the chain, known for its ample portions and wide
array of cheesecake, fell 2.5 percent to $45.65 in after-market
trading on Wednesday.
Cheesecake Factory's first-quarter net income was $22.5
million, or 43 cents per share, versus $25.3 million or 47 cents
per share a year earlier.
Revenue rose to $481.4 million from $463.0 million a year
Sales at restaurants open at least 18 months grew 1.2
percent at the Cheesecake Factory and fell 2.9 percent at Grand
Lux Cafe, its smaller chain.
Analysts polled by Consensus Metrix expected a 0.5 percent
rise in sales at Cheesecake Factory restaurants and a 0.8
percent decline for Grand Lux Cafe.
The company said established namesake restaurants benefited
from holiday gift card redemptions and strong results from
California, Florida and Texas.
(Reporting by Lisa Baertlein in Los Angeles; editing by Matthew