Cheesecake Factory: Reports Results for Q1/2009

Calabas Hills / CA. (cf) The Cheesecake Factory Inc. reported financial results for the first quarter of fiscal 2009, which ended on March 31, 2009. Total revenues were 392,8 million USD in Q1/2009 as compared to 393,8 million USD in the prior year first quarter. Net income and diluted net income per share were 10,0 million USD and 0,17 USD, respectively.

Comparable restaurant sales decreased 3,4 percent in the first quarter of fiscal 2009 from the first quarter of the prior year. By concept, comparable restaurant sales decreased 3,2 percent and 5,0 percent at The Cheesecake Factory and Grand Lux Cafe, respectively, in the first quarter of fiscal 2009 from the first quarter of the prior year.

«We reduced our debt level by 25 million USD during the first quarter while also increasing our cash balance relative to year-end. Debt reduction will continue to be an area of focus for us, in addition to innovative marketing of our brands and cost containment initiatives. We are pleased with the outcome that we are seeing from our efforts», said David Overton, Chairman and CEO.