WASHINGTON (dpa-AFX) - The Cheesecake Factory Incorporated (CAKE) reported second-quarter net income of $30.05 million or $0.59 per share, compared to $28.58 million or $0.52 per share, last year. Non-GAAP net income was $30.36 million or $0.59 per share, for the quarter.
On average, 22 analysts polled by Thomson Reuters expected the company to report profit per share of $0.61 for the quarter. Analysts' estimates typically exclude special items.
Revenues rose to $496.41 million from $470.12 million, last year. Analysts expected revenue of $502.26 million for the quarter.
Comparable restaurant sales at The Cheesecake Factory and Grand Lux Cafe increased 1.2% in the second quarter of fiscal 2014. By concept, comparable restaurant sales grew 1.5% at The Cheesecake Factory and declined 2.7% at Grand Lux Cafe.
The company also announced that its Board has approved an increase in its quarterly dividend equating to 18%. The Board declared a quarterly cash dividend of $0.165 per share on the common stock.
Copyright RTT News/dpa-AFX
© 2014 AFX News
