Calabas Hills / CA. (cf) The Cheesecake Factory Inc. reported financial results for the fourth quarter of fiscal 2007, which ended on January 01, 2008. Total revenues for Q4/2007 increased approximately 13 percent to 406,3 million USD from 360,7 million USD in the fourth quarter 2006.
In the fourth quarter of fiscal 2007, the company recorded one-time, pre-tax charges totalling 2,6 million USD related to the settlement of various legal matters, including the pending settlement of shareholder derivative actions. Including these one-time charges, reported net income and diluted net income per share were 13,3 million USD and 0,19 USD, respectively. Excluding these one-time charges, net income and diluted net income per share were 15,2 million and 0,22 USD, respectively.
Comparable restaurant sales decreased approximately 0,4 percent in the fourth quarter of fiscal 2007. While restaurant traffic was lower than expected, comparable restaurant sales were also impacted by severe winter weather in several parts of the country. Excluding the estimated 1,2 million USD impact on comparable restaurant sales from inclement weather, comparable restaurant sales would have increased approximately 0,1 percent.
By concept, comparable restaurant sales decreased approximately 0,6 percent at The Cheesecake Factory and increased approximately 1,9 percent at Grand Lux Cafe. Excluding the weather impact, comparable restaurant sales would have decreased approximately 0,1 percent at The Cheesecake Factory and increased approximately 2,1 percent at Grand Lux Cafe (press release).
