Cheesecake Factory Posts Profit of $1.79 Million

The Cheesecake Factory said it posted record earnings of $1.79 million during the first quarter ended April 2, up 38% from $1.3 million a year earlier.

The Calabasas-based restaurant chain’s higher profits came on quarterly sales of $24.9 million compared to $18.7 million during the same year-ago period. The 33% growth in revenue stemmed largely from the opening of new restaurants; its comparable store sales rose by just 1.5%, the company reported.

David Overton, chief executive officer, said The Cheesecake Factory plans to add three new restaurants during 1995. There are currently 11 restaurants in its chain.