LOS ANGELES, April 27 (Reuters) - Cheesecake Factory Inc on Wednesday reported quarterly profit that rose 20 percent from the first quarter a year ago on higher revenue and cost controls.
Shares of the chain, known for its ample portions and wide array of cheesecake, rose 1.3 percent to $52 in after-market trading.
Cheesecake Factory’s first-quarter net income totaled $34 million, or 68 cents per share, compared with $28.4 million, or 56 cents per share, a year earlier.
Revenue rose to $553.7 million from $518 million a year earlier.
Sales at company-owned restaurants open at least 18 months rose 1.7 percent. Analysts polled by Consensus Metrix expected those sales to be up 1.8 percent.
Cheesecake Factory has 188 restaurants, including its namesake chain, as well as the smaller Grand Lux Cafe and RockSugar Pan Asian Kitchen concepts. (Reporting by Lisa Baertlein in Los Angeles, editing by G Crosse)