Cheesecake Factory Q3 Profit Matches Estimates - Quick Facts

(RTTNews) - The Cheesecake Factory Incorporated (CAKE) reported third-quarter net income of $27.5 million or $0.50 per share, compared to $27.2 million or $0.49 per share, last year. The company recorded a $1.1 million pre-tax charge during the third quarter of fiscal 2013 related to the planned relocation of three The Cheesecake Factory restaurants. Excluding this item, net income was $28.1 million or $0.52 per share for the quarter.

On average, 23 analysts polled by Thomson Reuters expected the company to report profit per share of $0.52 for the quarter. Analysts' estimates typically exclude special items.

Total revenues rose to $469.7 million from $453.8 million prior year. Comparable restaurant sales at The Cheesecake Factory and Grand Lux Cafe increased 0.8% in the third quarter of fiscal 2013. By concept, comparable restaurant sales grew 1.0% at The Cheesecake Factory and declined 2.6% at Grand Lux Cafe. Analysts expected revenue of $468.72 million for the quarter.

The company's Board declared a quarterly cash dividend of $0.14 per share on common stock. The dividend is payable on November 19, 2013 to shareholders of record at the close of business on November 6, 2013.