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Cheesecake Factory

BUSINESS
November 21, 2006 | Martin Zimmerman, Times Staff Writer
Current and former executives of Cheesecake Factory Inc. -- including Chief Executive David Overton -- will return $1 million in pay tied to improperly dated stock option grants, the company said Monday. The restaurant chain also said it would restate earnings for 2003 to 2005 and the first quarter of 2006 to reflect $5.5 million in previously unrecorded, noncash compensation expenses.
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BUSINESS
November 15, 2006 | From Bloomberg News
Cheesecake Factory Inc. delayed filing its second- and third-quarter earnings because of a probe of its stock option grants. The investigation may cost the company as much as $6 million, Cheesecake Factory said in a filing with the Securities and Exchange Commission. The Calabasas Hills-based company said it was postponing the earnings reports because it hadn't completed the review.
BUSINESS
October 10, 2006 | From Bloomberg News and Times Staff Reports
Cheesecake Factory Inc. said Monday that its internal review of stock option practices had already cost it as much as $1.2 million. That would amount to more than 5% of average quarterly net income over the last four reported quarters. The Calabasas Hills-based restaurant chain said investigation costs were "approximately $1 million to $1.2 million" in the quarter ended Oct. 3.
BUSINESS
August 3, 2006 | Jerry Hirsch, Times Staff Writer
Angela Pierce and husband Nicolas used to enjoy a dinner date once a week. Now the Culver City couple patronize restaurants just twice a month, thanks to gasoline prices that are more than 70 cents a gallon higher in Southern California than a year ago. Unfortunately for the $175-billion U.S. sit-down restaurant business, the Pierces aren't the only ones staying away from their favorite eateries.
BUSINESS
April 20, 2005 | From Reuters
Cheesecake Factory Inc. on Tuesday reported higher earnings, helped by moderating commodity prices and efforts to keep a lid on costs. Net income for the first quarter ended March 29 rose 15% to $19 million, or 24 cents a share, from $16.6 million, or 22 cents, a year earlier. Wall Street analysts had expected the Calabasas Hills company to report earnings of 22 cents to 25 cents a share. Total revenue rose 22% to $268.
BUSINESS
April 20, 2005 | From Bloomberg News
Gilead Sciences Inc. said Tuesday that first-quarter profit climbed 37% as more doctors prescribed the company's newest product, Truvada, an AIDS pill that combines two older Gilead drugs. Net income rose to $157.1 million, or 34 cents a share, from $114.4 million, or 25 cents, a year earlier, the Foster City, Calif.-based company said. Revenue jumped 39% to $430.4 million. The introduction of Truvada helped lift sales of Gilead's HIV treatments 47% to $301.
BUSINESS
February 9, 2005 | Julie Tamaki, Times Staff Writer
Strong sales and an insurance settlement helped Cheesecake Factory Inc. report a 32% increase in fourth-quarter profit Tuesday. The Calabasas-based chain of 87 casual dining spots posted net income for the period ended Dec. 28 of $20.5 million, or 26 cents a share, compared with $15.6 million, or 20 cents, a year earlier. Excluding a $2-million property insurance settlement related to bakery product losses, the company would have earned 24 cents a share.
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