Rick’s Cabaret International, Inc. Nightclub Sales Up 4.3 Percent in Its First Quarter
January 11 2011 - 11:00AM
Business Wire
Rick’s Cabaret International, Inc. (NASDAQ: RICK), the
nation’s leading group of upscale gentlemen’s clubs, had sales of
$20.4 million at its nightclubs in its first quarter of fiscal
2011, a gain of 4.3 percent over the previous year total of $19.6
million.
Revenues for October, November and December rose at the
company’s two largest clubs, Tootsie’s Cabaret in Miami and Rick’s
Cabaret in New York City. Other clubs showing significant gains
were the Rick’s Cabarets in Fort Worth and San Antonio, Cabaret
North in Fort Worth and Club Onyx in Dallas.
Sales at locations open for more than 12 months were $18.8
million during the quarter, a decline of 3.7 percent, due primarily
to an anticipated decline in revenues at Rick’s Cabaret Las Vegas
where sales were $1.1 million in the first quarter of this fiscal
year, compared with $3.2 million in the previous year following the
rollback of a costly marketing program.
About Rick’s Cabaret: Rick’s Cabaret International, Inc.
(NASDAQ: RICK) is home to 21 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
or visit ricksinvestor.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 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 ricksinvestor.com.
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