This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Cheesecake Factory Reports Results For Second Quarter Of Fiscal 2012

The Cheesecake Factory Incorporated (NASDAQ: CAKE) today reported financial results for the second quarter of fiscal 2012, which ended on July 3, 2012.

Total revenues were $454.7 million in the second quarter of fiscal 2012 as compared to $430.7 million in the prior year second quarter. Net income and diluted net income per share were $28.4 million and $0.52, respectively.

In the second quarter of fiscal 2012, the Company realized $0.4 million in proceeds from a variable life insurance contract, which the Company uses to support its non-qualified deferred compensation plan. This item is non-taxable and increased reported diluted net income per share by approximately $0.01. Excluding this item, net income and diluted net income per share were $28.0 million and $0.51, respectively.

Operating Results

Comparable restaurant sales at The Cheesecake Factory and Grand Lux Cafe increased 1.7% in the second quarter of fiscal 2012. By concept, comparable restaurant sales grew 2.1% at The Cheesecake Factory and declined 2.9% at Grand Lux Cafe.

“We continue to take market share and maintain our outperformance relative to the industry with respect to comparable restaurant sales, particularly growth in guest traffic. We have long said that our focus on menu innovation and quality, as well as high levels of hospitality, set us apart from others in casual dining and represent our biggest sales drivers. Once again, we demonstrated that we are focused on the right areas to drive sales, and we continue to hold a leadership position in these areas,” said David Overton, Chairman and CEO.

“Our financial performance was strong across our key metrics, including significantly higher restaurant-level margins, compared to last year. As a result, we delivered earnings per share growth of over 20 percent in the second quarter, solidly above our targeted range,” continued Overton.

Capital Allocation

The Company also announced today that its Board of Directors approved the initiation of a cash dividend to its shareholders. A quarterly dividend of $0.12 per share will be paid on August 21, 2012 to shareholders of record at the close of business on August 8, 2012. On an annualized basis, the Company’s dividend payment equates to a payout of approximately 25 percent of its full-year net income. Future dividends will be subject to Board approval.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.85 -3.00%
FB $117.00 7.40%
GOOG $691.20 -2.10%
TSLA $247.54 -1.60%
YHOO $36.58 -1.00%


Chart of I:DJI
DOW 17,830.76 -210.79 -1.17%
S&P 500 2,073.69 -21.46 -1.02%
NASDAQ 4,801.7040 -61.4370 -1.26%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs