Cheesecake Factory 4th-Q profit down on increased expenses

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CALABASAS HILL, Calif. The Cheesecake Factory Inc. posted a 9.4-percent drop in fourth-quarter profit, versus a year earlier, as stock-based compensation expense and increased total costs offset the company’s 9.8-percent increase in revenues.

For the quarter ended Jan. 2, Cheesecake earned $20.4 million, or 26 cents per share, compared with year-earlier earnings of $22.6 million, or 28 cents per share. Revenues totaled $360.7 million.

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