Cheesecake Factory: 4Q Earnings Snapshot
CALABASAS HILLS, Calif. (AP) _ The Cheesecake Factory Inc. (CAKE) on Wednesday reported fourth-quarter earnings of $16.2 million.
The Calabasas Hills, California-based company said it had net income of 35 cents per share. Earnings, adjusted for asset impairment costs, were 60 cents per share.
The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.
The restaurant chain posted revenue of $585.2 million in the period, also falling short of Street forecasts. Nine analysts surveyed by Zacks expected $594.5 million.
For the year, the company reported profit of $99 million, or $2.14 per share. Revenue was reported as $2.33 billion.
Cheesecake Factory shares have climbed almost 7 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $46.38, an increase of nearly 2 percent in the last 12 months.