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Lines Still Growing at Cheesecake Factory

The restaurant operator says fourth-quarter revenue rises 23%.
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Cheesecake Factory

(CAKE) - Get Free Report

said fourth-quarter revenue rose 23%, while same-store sales were positive despite some locations being closed temporarily because of hurricanes hitting the Southeast.

Total revenue for the fourth quarter reached $328.3 million, up from $266.1 million a year ago. Comp sales rose 0.5%, but would have increased 1.1% if not for hurricane-related closings.

Cheesecake Factory earned $23.4 million, or 29 cents a share, in the fourth quarter, matching Wall Street's consensus estimate. In the same period a year ago, the company had a profit of $19.9 million, or 25 cents a share.

"We are very proud of the milestones we achieved last year," the restaurant operator said Tuesday. "From the opening of our 100th Cheesecake Factory restaurant to surpassing the $1 billion revenue mark, fiscal 2005 was a year of significant accomplishment. We believe we are well positioned to continue our successful track record of delivering profitable growth for many years to come."

Shares of Cheesecake Factory fell 25 cents to $37.05 in after-hours trading. The stock lost 94 cents in the regular session.