Quarterly Financial Data (unaudited)

12 Months Ended

Jan. 03, 2017

Quarterly Financial Data (unaudited)

17. Quarterly Financial Data (unaudited)

Summarized unaudited quarterly financial data for fiscal 2016 and 2015, is as follows (in thousands, except per share data):

Quarter Ended:	March 29, 2016		June 28, 2016		September 27, 2016		January 3, 2017
Revenues	$	553,693	$	558,862	$	560,018	$	603,146
Income from operations (1)	$	48,594	$	55,190	$	50,063	$	47,146
Net income	$	33,954	$	38,585	$	34,574	$	32,381
Basic net income per share (2)	$	0.70	$	0.80	$	0.72	$	0.68
Diluted net income per share (2)	$	0.68	$	0.78	$	0.70	$	0.66
Cash dividends declared per common share	$	0.20	$	0.20	$	0.24	$	0.24

Quarter Ended:	March 31, 2015		June 30, 2015		September 29, 2015		December 29, 2015
Revenues	$	517,973	$	529,107	$	526,688	$	526,841
Income from operations (1)	$	41,054	$	49,753	$	35,644	$	38,795
Net income	$	28,423	$	34,724	$	26,176	$	27,200
Basic net income per share (2)	$	0.58	$	0.72	$	0.54	$	0.56
Diluted net income per share (2)	$	0.56	$	0.69	$	0.52	$	0.54
Cash dividends declared per common share	$	0.165	$	0.165	$	0.20	$	0.20

(1)

Income from operations included $0.1 million of accelerated depreciation expense in the fourth quarter of fiscal 2016 related to the planned relocation of one The Cheesecake Factory restaurant and $6.0 million of impairment expense in the third quarter of fiscal 2015 related to our Rock Sugar Pan Asian Kitchen restaurant. The impact to net income of these items was $0.1 million and $3.6 million, respectively. (See Note 1 for further discussion of impairment of assets and lease terminations.)

(2)

Net income per share calculations for each quarter are based on the weighted average diluted shares outstanding for that quarter and may not total to the full year amount.

While seasonal fluctuations generally do not have a material impact on our quarterly results, the year-over-year comparison of our quarterly results can be significantly impacted by the number and timing of new restaurant openings and associated preopening costs, the calendar days of the week on which holidays occur, the impact from inclement weather and other climatic conditions, the additional week in a 53-week fiscal year and other variations in revenues and expenses. As a result of these factors, our financial results for any quarter are not necessarily indicative of the results that may be achieved for the full fiscal year.