Cheesecake Factory Says Earnings Higher in Quarter

Cheesecake Factory Inc., a Calabasas restaurant chain, reported higher third-quarter and nine-month earnings.

In the three months that ended Oct. 2, the company had a profit of $1.99 million, up 63% from $1.22 million in net income in the third quarter of 1993. Its sales rose 28%, to $22.2 million from $17.4 million.

In the first nine months of the year, Cheesecake Factory’s earnings were $5.17 million, a 49% increase from a $3.47-million profit a year before. Its sales totaled $61.4 million, a 26% gain from $48.6 million in sales in the comparable period a year earlier.

The company said it opened a new restaurant in Miami in September, and has sites under construction in Chicago and Boca Raton, Fla. It is in final lease negotiations for sites in Houston, Las Vegas and Boston. There are now 10 Cheesecake Factory restaurants in California, Washington, D.C., and Florida.

Cheesecake Factory also said it plans to open its new bakery facility and corporate headquarters in early 1995, which will expand its plant area by more than threefold.