Rick’s Cabaret International, Inc. Issues Earnings Guidance Range for 2010 of $.95 to $1.05 Per Share
January 13 2010 - 9:00AM
Business Wire
Rick’s Cabaret International, Inc. (NASDAQ: RICK), the
leading chain of upscale gentlemen’s clubs, today issued guidance
to investors on its anticipated performance in fiscal 2010.
The company believes it will earn in the range of $ .95 to $1.05
per share during the fiscal year on revenues that will range
between $84 million and $86 million.
“While things could change we believe we have a good feel for
how our clubs will perform through the end of September,” said
Eric Langan, President and CEO. He added that the guidance
assumes continued organic growth, revenues generated during the
Pro Bowl and Super Bowl being held in Miami and the
NBA All Star Game to be held in Dallas, and no unforeseen
events, but does not assume any additional acquisitions.
The company resumed its acquisition program in the last quarter
of 2009 with the purchase of two additional nightclubs and of
property for another club near the Dallas Fort Worth Airport that
is expected to be open in the second half of 2010.
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 cities where it
operates, the success or lack thereof in launching and building the
company’s businesses, 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 visit ricks.com.
About Rick’s Cabaret: Rick’s Cabaret International, Inc.
(NASDAQ: RICK) is home to upscale adult nightclubs serving
primarily businessmen and professionals that offer live
entertainment, dining and bar operations. Nightclubs in New York
City, Miami, Philadelphia, New Orleans, Charlotte, Dallas, Houston,
Minneapolis and other cities operate under the names "Rick's
Cabaret," "XTC," “Club Onyx” and “Tootsie’s Cabaret”. Sexual
contact is not permitted at these locations. Rick’s Cabaret also
operates a media division, ED Publications, and owns the adult
Internet membership Website couplestouch.com as well as 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.
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