The diverse blend of restaurants reporting results for the most recent quarter after the market close on Thursday were BJ’s Restaurants (BJRI), Buffalo Wild Wings (BWLD), Chipotle Mexican Grill (CMG), Cheesecake Factory (CAKE) and Panera Bread (PNRA).

Casual dining chain BJ’s Restaurants (BJRI) reported that net profits fell in the fourth quarter, with the company earning $1.7 million, or 6 cents per share compared to the $2.3 million, or 8 cents per share, it earned in the same period one year ago. Excluding one-time items, the company earned 12 cents per share. Revenue for the quarter did rise 13.5% over last year, and the company did beat estimates by a penny. But BJ’s said its bottom line was hurt by higher expenses. It also said it does not expect consumer restaurant spending to recover in 2010.

Buffalo Wild Wings (BWLD) also said its bottom line was hurt by rising costs. The restaurant chain reported a solid rise in fourth-quarter sales, but its bottom-line results fell short of Street expectations. The company earned $8.3 million, or 46 cents per share, in the fourth quarter, which compares quite favorably with earnings of $7.7 million, or 43 cents per share, a year earlier. And while sales for the quarter rose about 20% in Q4, costs also rose to the tune of about 17%. The Street was anticipating earnings of 51 cents per share on revenue of $148.8 million. 

Fast-food chain Chipotle Mexican Grill (CMG) said its fourth-quarter profit rose 86% in Q4, but the company also said it expects same-store sales to be flat in this year. Chipotle earned $31.6 million, or 99 cents per share, for the quarter, much better than the $17 million, or 52 cents per share, it earned in the same quarter a year ago. Revenue also grew, due chiefly to the addition of 45 new restaurants in the quarter. The Street was expecting the company to earn just 81 cents per share on revenue of $388.2 million. 

Cheesecake Factory (CAKE) reported a Q4 loss of $13,000 for the quarter, or essentially zero on a per share basis. That’s way down from the $7 million, or 12 cents per share, the company earned in the same quarter one year ago. Excluding charges tied to its Grand Lux Cafes and other special items, the company earned 28 cents per share. Analysts following the stock expected the company to earn 24 cents per share for the quarter. Same-store sales at restaurants open at least a year decreased 0.9% in the quarter.

Casual dining chain Panera Bread (PNRA) said its fourth-quarter profit rose 16% on increased revenue and higher profit margins. The company earned $29.7 million, or 95 cents per share, a nice increase over a profit of $25.5 million, or 84 cents per share, one year ago. The company’s earnings did match consensus expectations; however, Panera’s forecast for earnings of $3.26 to $3.34 in the coming year fell short of analysts expectations.

All five of these restaurant stocks sold off in Thursday’s after-hours trade, with Buffalo Wild Wings sustaining a double-digit percentage hit. If the after-hours trade in these stocks is any harbinger of things to come, it could mean very lean times ahead for restaurants.

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