HOUSTON, July 12, 2011 /PRNewswire/ -- Rick's Cabaret
International, Inc. (NASDAQ: RICK), had total revenues in its
group of 23 nightclubs of $20.5
million in the third quarter ending June 30, 2011, an increase of 15.2 percent over
revenues of $17.8 million in the same
quarter in 2010. The figures do not include results from Rick's
Cabaret in Las Vegas, which was
discontinued during the quarter.
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Same store sales at clubs operated for more than one year rose
9.0 percent for the quarter, to $19.2
million from $17.6 million in
the same period in 2010.
"The NBA championship series was positive for our clubs in
Miami and the Dallas-Fort Worth market during this quarter,"
said Eric Langan, President
and CEO of Rick's Cabaret. "The Rick's Cabaret locations in
Minneapolis and San Antonio did very well, and our newly
acquired club in Indianapolis is
beginning to make contributions to our revenues." He noted that
operations at the Las Vegas
location were sharply curtailed in April and the club was
essentially closed during May and June.
The company will announce its earnings results for the quarter
in mid August.
About Rick's Cabaret: Rick's Cabaret International, Inc.
(NASDAQ: RICK) is home to 23 upscale adult nightclubs serving
primarily businessmen and professionals that offer live
entertainment, dining and bar operations. Nightclubs in
New York City, Miami, Philadelphia, 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 www.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. Additional
factors that could cause the Company's results to differ materially
from those described in the forward-looking statements are
described in forms filed with the SEC from time to time and
available at www.ricksinvestor.com or on the SEC's internet website
at www.sec.gov. 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
www.ricksinvestor.com.
SOURCE Rick's Cabaret International, Inc.