Rick's Cabaret International, Inc. Reports $2.8 Million in Nightclub Sales for May, Another Monthly Record
June 07 2007 - 9:58AM
Business Wire
Rick�s Cabaret International, Inc. (NASDAQ:RICK), operator of
upscale gentlemen�s clubs, said today its May 2007 nightclub sales
were $2,831,807, the highest monthly revenue on record for the
company. Sales at its clubs were 42 percent higher than the
$1,983,866 reported in May 2006. The company also said its monthly
same-club sales were $2,172,329, representing a nearly 9 percent
increase over the previous May. May year-over-year sales increases
were driven by continued growth in the company�s midtown Manhattan
club and contributions from newly acquired clubs in Austin, Ft.
Worth and San Antonio. �We are very pleased with the sustained
growth in revenues at both our existing clubs and our new ventures,
with the Ft. Worth acquisition turning in particularly strong
numbers that should continue to grow,� said Eric Langan, President
and CEO of Rick�s Cabaret. The previous high monthly nightclub
revenue for the company was $2,485,043 reported in April 2007.
About Rick�s Cabaret: Rick�s Cabaret International, Inc. (NASDAQ:
RICK) operates upscale adult nightclubs serving primarily
businessmen and professionals that offer live adult entertainment,
restaurant and bar operations. The company owns and operates or
licenses adult nightclubs in New York City, New Orleans, Charlotte,
Houston, Minneapolis and other cities under the names "Rick's
Cabaret," "XTC" and �Club Onyx.� No sexual contact is permitted at
any of these locations. Rick�s Cabaret also owns the adult Internet
membership Web site, couplestouch.com, and a network of online
adult auction sites under the flagship URL naughtybids.com. Rick�s
Cabaret common stock is traded on NASDAQ under the symbol RICK. For
further information contact ir@ricks.com. Forward-looking
Statements: This document contains forward-looking statements that
involve a number of risks and uncertainties that could cause the
company�s actual results to differ materially from those indicated
in this document, including�the risks and uncertainties associated
with operating and managing�an adult business, the business
climates in New York City and elsewhere, the success or lack
thereof in launching and building the company�s businesses in New
York City and elsewhere, risks and uncertainties related to the
operational and financial results of our Web sites, conditions
relevant to real estate transactions, and numerous other factors
such as laws governing the operation of adult entertainment
businesses, competition and dependence on key personnel. Rick's has
no obligation to update or revise the forward-looking statements to
reflect the occurrence of future events or circumstances. For
further information go to ricks.com.
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