BTIG Upgrades Cheesecake Factory (CAKE) to Buy

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The Cheesecake Factory Reports Results for Third Quarter of Fiscal 2015

October 26, 2015 4:15 PM EDT

CALABASAS HILLS, Calif.--(BUSINESS WIRE)-- The Cheesecake Factory Incorporated (NASDAQ: CAKE) today reported financial results for the third quarter of fiscal 2015, which ended on September 29, 2015.

Total revenues were $526.7 million in the third quarter of fiscal 2015 as compared to $499.1 million in the prior year third quarter. Net income and diluted net income per share were $26.2 million and $0.52, respectively, in the third quarter of fiscal 2015.

The Company recorded a pre-tax, non-cash charge of $6.0 million related to the impairment of RockSugar Pan Asian Kitchen during the third quarter of fiscal 2015. Excluding this item,... More