![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Tuesday, April 08, 2008 10:46:39 AM
The Cheesecake Factory Incorporated (NASDAQ:CAKE) today announced that the Company has secured an extension to its revolving credit facility in the amount of $100 million. As part of its fiscal 2008 business plan, the Company intends to utilize the $100 million, in addition to expected free cash flow, in support of share repurchases of between $150 million and $200 million.
As previously announced, the Company’s Board of Directors approved a ten million share increase in the Company’s share repurchase authorization in February 2008. As a result, the Company currently has authorization to repurchase up to 17.5 million shares of its common stock.
“We are pleased to have obtained an increase in our credit facility at the high end of our targeted range and at a favorable rate despite tight credit market conditions,” said David Overton, Chairman and CEO. “We are committed to prudently deploying capital towards earnings per share growth and improved returns on invested capital. Our share repurchases help to accomplish both of these goals, as well as return capital to shareholders.”
About The Cheesecake Factory Incorporated
The Cheesecake Factory Incorporated created the upscale casual dining segment in 1978 with the introduction of its namesake concept and continues to define it today with the two highest productivity concepts in the industry. The Company operates 139 restaurants throughout the U.S. under The Cheesecake Factory® name with an extensive menu of more than 200 items and fiscal 2007 average annual unit sales of approximately $10.4 million. Grand Lux Cafe®, the Company’s second concept, has 13 units in operation across the U.S. offering a broad menu of more than 150 items and average annual unit sales of approximately $12.7 million in fiscal 2007. The Company also operates two bakery production facilities in Calabasas Hills, CA and Rocky Mount, NC that produce over 60 varieties of quality cheesecakes and other baked products. Additionally, the Company operates one self-service, limited menu express foodservice operation and licenses two bakery cafe outlets to another foodservice operator. For more information, please visit thecheesecakefactory.com.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements with respect to the Company’s ability to repurchase its shares. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by forward-looking statements. Investors are cautioned that forward-looking statements are not guarantees of future performance and that undue reliance should not be placed on these statements. In particular, the Company’s expected free cash flow is dependent upon a variety of risks and uncertainties, some of which, such as adverse economic conditions, weather and litigation are beyond the Company’s control. The share repurchase authorization does not require the Company to purchase a specific number of shares and it may be modified, suspended or terminated at any time. The timing and number of shares repurchased, if any, pursuant to the share repurchase authorization will be subject to a number of factors, including current market conditions, legal constraints and available cash or other sources of funding. Forward-looking statements speak only as of the dates on which they were made. Except as may be required by law, the Company undertakes no obligation to update publicly or revise any forward-looking statements or to make any other forward-looking statements, whether as a result of new information, future events or otherwise unless required to do so by the securities laws. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements contained in the Company’s filings with the Securities and Exchange Commission.
for The Cheesecake Factory Incorporated
Jill Peters
818-871-3000
Source: Business Wire (March 6, 2008 - 7:30 AM EST)
News by QuoteMedia
www.quotemedia.com
BECAUSE YOU CAN READ THIS, THANK A TEACHER. BECAUSE IT'S IN ENGLISH, THANK A SOLDIER.
Recent CAKE News
- The Cheesecake Factory to Webcast Second Quarter Fiscal 2024 Earnings Conference Call on July 31, 2024 • Business Wire • 07/10/2024 08:15:00 PM
- The Cheesecake Factory Offers Triple the Reasons to Celebrate National Cheesecake Day This Year • Business Wire • 07/09/2024 12:11:00 PM
- The Cheesecake Factory Celebrates Dads and Grads With a Sweet Online Gift Card Offer • Business Wire • 06/06/2024 12:11:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/04/2024 08:31:23 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/31/2024 09:46:27 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/31/2024 09:44:43 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/31/2024 09:43:33 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/31/2024 09:42:31 PM
- The Cheesecake Factory to Participate in Upcoming Investor Conferences • Business Wire • 05/23/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/15/2024 09:00:09 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/14/2024 10:33:02 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/08/2024 09:01:01 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/08/2024 08:30:44 PM
- The Cheesecake Factory Reports Results for First Quarter of Fiscal 2024 • Business Wire • 05/08/2024 08:15:00 PM
- Tesla’s April Sales Down 18% in China, Amazon’s Multi-Billion Dollar Cloud Expansion in Singapore, and More News • IH Market News • 05/07/2024 11:44:00 AM
- The Cheesecake Factory Celebrates Moms With Sweet Online Gift Card Offer • Business Wire • 04/29/2024 12:11:00 PM
- The Cheesecake Factory to Webcast First Quarter Fiscal 2024 Earnings Conference Call on May 8, 2024 • Business Wire • 04/17/2024 08:15:00 PM
- The Cheesecake Factory Named to Fortune’s ‘100 Best Companies to Work For’ List for Eleventh Time • Business Wire • 04/04/2024 08:58:00 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 02/26/2024 10:00:56 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/21/2024 09:30:46 PM
- The Cheesecake Factory Reports Results for Fourth Quarter of Fiscal 2023 • Business Wire • 02/21/2024 09:15:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 11:31:53 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 11:31:19 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 11:30:38 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 11:28:27 PM
FEATURED Cannabix Technologies and Omega Laboratories Inc. Provide Positive Developments on Marijuana Breathalyzer Testing • Jul 11, 2024 8:21 AM
ECGI Holdings Enhances Board with Artificial Intelligence (AI) Expert Ahead of Allon Apparel Launch • ECGI • Jul 10, 2024 8:30 AM
Avant Technologies to Meet Unmet Needs in AI Industry While Addressing Sustainability Concerns • AVAI • Jul 10, 2024 8:00 AM
Panther Minerals Inc. Launches Investor Connect AI Chatbot for Enhanced Investor Engagement and Lead Generation • PURR • Jul 9, 2024 9:00 AM
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM