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Byline: - Staff and Wire Services

Restaurant chain sales, profits up

CALABASAS - Shrugging off inclement weather across much of the country, The Cheesecake Factory Inc. reported increased first-quarter sales and profits Tuesday.

The restaurant and bakery chain's revenue increased 22 percent, to $268.2 million, up from $220.5 in the same period a year ago. Earnings improved to $18.96 million, or 24 cents per share, from $16.59 million, or 21 cents per share, in the prior year. Revenue from restaurants open at least a year increased 3.4 percent.

Dole Food affiliate to be hotel partner

WESTLAKE VILLAGE - Dole Food Co. Inc. announced Tuesday that its affiliate Westlake Wellbeing Properties will partner with Four Seasons Hotels and Resorts to run a previously announced luxury hotel.

The hotel will have 270 rooms and suites and is part of a complex that will include a well-being center, spa and educational and television facilities. The complex will be located on a 20-acre site across from Dole's world headquarters.

CalPERS expands investing options

SACRAMENTO - After a three-year snub, CalPERS, the biggest pension fund in the United States, has added Thailand and Sri Lanka to a list of Asian emerging markets where the fund can invest.

Argentina and Turkey also passed the requirements, bringing to 19 the number of emerging markets the California Public Employees' Retirement System can invest in globally.

Intel's Q1 profit rises 25 percent

SAN JOSE - Intel Corp.'s first-quarter profit jumped 25 percent Tuesday, driven by strong demand for microprocessors used in notebook computers and lower-than-expected costs associated with manufacturing and new technologies.

The world's largest chip maker also said it expects second-quarter sales to be between $8.6 billion and $9.2 billion, which would be in line with Wall Street expectations.

Yahoo Inc. reports first-quarter gain

SUNNYVALE - Yahoo Inc.'s first-quarter profit doubled as the Internet powerhouse continued to ride a rising tide of online advertising.

The Sunnyvale-based company said Tuesday that it earned $204.6 million, or 14 cents per share, during the three months ended in March. That compared with net income of $101.2 million, or 7 cents per share, at the same time last year.

Viacom revenues up; income falls

NEW YORK - Viacom Inc., the media conglomerate that owns CBS and MTV, reported Tuesday that its net income fell from a year ago when it recorded a tax benefit, but revenues rose 5 percent on growth in its cable networks division.

Viacom earned $585 million, or 36 cents a share, in the January-March period, down from $710.5 million, or 41 cents a share, a year ago.

Television revenues fell 5 percent due to lower advertising revenues from the CBS and UPN Networks and the company's stations group, mostly due to the absence of the Super Bowl and lower political ad spending.

Viacom's radio business continued to struggle, reporting a 5 percent decline in profits despite a 2 percent increase in revenues. The company attributed the decline to higher costs for programming, promotion and employee-related expenses.