Cheesecake Factory Q2 Profit Misses Estimates - Quick Facts

(RTTNews) - The Cheesecake Factory Incorporated (CAKE) reported second-quarter net income of $28.58 million or $0.52 per share, compared to $28.40 million or $0.52 per share, last year. The company recorded a pre-tax charge during the second quarter of fiscal 2013 related to the planned relocation of two The Cheesecake Factory restaurants. The amount of the charge was approximately $1.5 million, which decreased net income per share by approximately $0.02.

Adjusted net income increased to $29.49 million or $0.54 per share, from $27.98 million or $0.51 per share, last year. On average, 24 analysts polled by Thomson Reuters expected the company to report profit of $0.57 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues were $470.12 million, compared to $454.75 million last year. Analysts expected revenue of $473.36 million for the quarter. Comparable restaurant sales at The Cheesecake Factory and Grand Lux Cafe increased 0.8% in the second quarter of fiscal 2013.