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The Cheesecake Factory Incorporated operates 77 full-service, casual dining restaurants under The Cheesecake Factory® mark in major metropolitan areas in the United States. The Company also operates Grand Lux Cafe®, an upscale casual dining restaurant concept with locations in Las Vegas (The Venetian Resort-Hotel-Casino), Chicago (Michigan Avenue) and Los Angeles (Beverly Center); one self-service, limited menu "express" foodservice operation under The Cheesecake Factory Express® mark inside the DisneyQuest® family entertainment center in Orlando, Florida; and a bakery production facility. The Company also licenses three bakery cafes under The Cheesecake Factory mark to another foodservice operator. The Company originated in 1972 as a producer and distributor of high-quality cheesecakes and other baked desserts. Our first restaurant opened in Beverly Hills, California in 1978. Our initial public offering of common stock was completed in September 1992 with subsequent follow-on public offerings in January 1994 and November 1997. The Cheesecake Factory full-service restaurants offer approximately 200 menu items including appetizers, pizza, seafood, steaks, chicken, burgers, pasta, specialty items, salads, sandwiches, omelets and desserts including approximately 40 varieties of cheesecake and other baked desserts. In contrast to many chain restaurant operations, substantially all menu items (except desserts manufactured at our bakery production facility) are prepared on the restaurant premises using high-quality, fresh ingredients based on innovative and proprietary recipes. We believe our restaurants are recognized by consumers for offering exceptional value with generous food portions at moderate prices. Our restaurants possess a distinctive, contemporary design and decor that creates a high-energy ambiance in a casual setting. Our full-service Cheesecake Factory restaurants currently range in size from 5,400 to 17,300 interior square feet, provide full liquor service and are generally open seven days a week for lunch and dinner, including Sunday brunch. For fiscal 2003, our average guest check was approximately $16.00. The creation, production and marketing of quality cheesecakes and other baked desserts remain a cornerstone of our brand identity. At our state-of-the-art bakery production facility, we produce approximately 50 varieties of cheesecake based on our proprietary recipes. Some of our popular cheesecakes include the Original Cheesecake, White Chocolate Raspberry Truffle®, Chocolate Peanut Butter Cookie-Dough, Kahlua Almond Fudge, Dutch Apple Caramel Streusel, Fresh Strawberry and Triple Chocolate Brownie Truffle®. Other popular baked desserts include chocolate fudge cake, carrot cake, blackout cake and apple dumplings. In addition to producing baked desserts for our restaurants, our bakery operations produce and sell branded and private label cheesecakes and other baked products to other leading foodservice operators, retailers and distributors. As of January 2004, The Cheesecake Factory Incorporated and its wholly owned subsidiaries employed approximately 18,000 persons.