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Cheesecake Income Dips

The Cheesecake Factory Inc. reported that net income declined to $20.4 million or $0.26 per diluted share for the fourth fiscal quarter ended Jan. 2, 2007, compared to $22.6 million or $0.28 per share in the comparable period last year. Revenues for the quarter rose 18 percent to $360.7 million from the fourth quarter of fiscal 2005. On a comparable store basis, sales increased 8 percent in the fourth quarter. Cheesecake’s Grand Lux Caf & #233; concept led in sales growth for the quarter, registering a 7.8 percent sales increase for same stores. Sales for The Cheesecake Factory restaurants rose 4 percent. The Calabasas Hills-based restaurant chain noted that its prior year included an additional week.

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