Rick's Cabaret International, Inc. June Nightclub Sales Climb Again to New Record High
July 10 2007 - 8:55AM
Business Wire
Rick�s Cabaret International, Inc. (NASDAQ: RICK), operator of
upscale gentlemen�s clubs, today reported June nightclub sales of
$2,956,787, the second consecutive month of record revenues. The 38
percent increase over sales in June 2006 was driven by continued
development at the company�s flagship New York City club and
contributions from the newest clubs in Ft. Worth, Austin and San
Antonio in Texas. Same store sales were up more than 9 percent to
$2,338,642 compared with the June 2006 total of $2,142,148. �We are
pleased with the continued growth in our overall revenue and we
remain on track to meet our gross revenue target of $32-$34 million
for our fiscal year ending September 30th,� said Eric Langan,
President and CEO of the company. The previous record monthly
nightclub income for the company was in May 2007, when sales were
$2,831,807. 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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