Cheesecake Factory, the Calabasas Hills-based casual restaurant chain, reported on Wednesday third-quarter net income of $27.1 million, or 51 cents per share, a gain of 36 percent compared to $20.6 million or 37 cents a share for the same quarter last year.
Revenue climbed to nearly $454 million, an increase of 6 percent from the same quarter a year ago.
Chief Executive David Overton pointed to an increase in number of patrons to explain the earnings jump.
“Our sales growth was primarily due to increases in guest traffic,” Overton said in a statement. “We see ongoing improvements in overall guest satisfaction scores, which is critical to attracting and retaining guests.”
The company partnered with franchise operator M.H. Alshaya Co. of Kuwait City and opened its first overseas location in Dubai in August. The company expects to open as many as three more Middle Eastern locations during fiscal year 2012.
Cheesecake Factory has spent approximately $75 million this year to repurchase nearly 2.5 million of its common stock shares. More than 500,000 of those shares were purchased by the company during the third quarter, for about $17 million.
Shares closed Wednesday down 86 cents, or less than 5 percent, to $32.76 on the Nasdaq.