The Cheesecake Factory Inc. said Thursday its net income fell 36 percent in the third quarter as the upscale casual dining chain faced higher costs and lower same-store sales.

The Calabasas Hills company said after the market close that net income fell to $11.8 million (19 cents per share) compared with $18.5 million (26 cents) in the same period last year. Revenue rose 8 percent to $405.1 million.

Analysts polled by Thomson Reuters had on average expected net income of 26 cents per share on revenue of $405 million

Same-store sales were off nearly 5 percent as cash-strapped customers stayed home or went to a less-expensive competitor.

“Our earnings were also pressured by spikes in commodity and utility costs, which have begun to moderate as food and energy costs come off of the highest levels we have seen this year,” said Chief Executive David Overton in a statement.

Cheesecake shares, which closed up 11 cents to $9.69 on the Nasdaq, dropped 43 cents, or 4.5 percent, to $9.26 in after-hours trading.