Cheesecake Factory Profit 4 Times That of Year Ago

Cheesecake Factory Inc., a Calabasas-based operator of six restaurants, said its fourth-quarter profit nearly quadrupled from a year earlier on a 12% increase in revenue.

In the quarter ended Jan. 3, Cheesecake Factory’s net income jumped to $1.53 million from $395,703 a year earlier, while its revenue climbed to $12.6 million from $11.3 million.

The latest earnings included a tax credit of $724,952, but even without the gain the company’s earnings would have doubled.

Cheesecake Factory also said its “same-store sales”--those of stores open at least a year--rose 7.6% from the year-earlier period.

For all of 1992, Cheesecake Factory’s profit surged to $4.23 million from $1.51 million, and its annual revenue rose 12%, to $52 million from $46.4 million.

The company completed its initial public stock offering in September. Its financial results were reported on a pro forma basis, that is, as though the company had been publicly held for at least a year.