The Cheesecake Factory Beats on Top and Bottom Line (CAKE)

The Cheesecake Factory Incorporated CAKE reports Q3 earnings of $0.37 versus consensus of $0.34. The Cheesecake Factory Incorporated reports revenues of $418.4 million versus consensus of $413.29 million. "We are experiencing increasing momentum in our business, with solidly positive guest traffic, expanding margins and strong earnings growth. Our restaurants remain competitively well positioned and we are clearly capturing market share," said David Overton, Chairman and CEO. CAKE repurchased 911,724 shares of its common stock during the third quarter of fiscal 2010 at a cost of $21.2 million. Year-to-date, the company has repurchased 2,068,882 shares of its common stock at a total cost of $51.2 million. Additionally, CAKE repaid $30 million of debt under its revolving credit facility in the third quarter of fiscal 2010. Following this repayment, the company's revolving credit facility balance was $40 million, and the company ended the third quarter with a cash balance of $59.8 million. Shares of CAKE are higher in the after-hours by 0.04%.