THE CHEESECAKE FACTORY INCORPORATED AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS

	Fiscal Year
(In Thousands, Except Per Share Data)		2003			2002			2001
Revenues:
Restaurant sales	$	731,273		$	603,295		$	499,519
Bakery sales to other foodservice operators, retailers
and distributors		42,562			48,675			39,611
Total revenues		773,835			651,970			539,130
Costs and expenses:
Restaurant cost of sales		175,654			142,998			127,005
Bakery cost of sales		19,716			22,631			19,153
Labor expenses		239,386			200,279			164,372
Other operating costs and expenses		180,725			150,617			120,706
General and administrative expenses		35,817			31,702			27,929
Depreciation and amortization expenses		27,960			22,855			17,457
Preopening costs		11,859			10,631			7,069
Total costs and expenses		691,117			581,713			483,691
Income from operations		82,718			70,257			55,439
Interest income, net		3,466			3,885			4,328
Other income		2,944			2,178			1,654
Income before income taxes		89,128			76,320			61,421
Income tax provision		31,292			27,245			22,112
Net income	$	57,836		$	49,075		$	39,309
Net income per share:
Basic	$	1.15		$	1.00		$	0.83
Diluted	$	1.12		$	0.96		$	0.79
Weighted average shares outstanding:
Basic		50,422			49,266			47,466
Diluted		51,848			51,158			49,897