VCG Holding Corp. Reports Growth of Its September 2005 Nightclub Revenues by 78.9% over September 2004
October 04 2005 - 12:52PM
Business Wire
VCG Holding Corp. (AMEX: PTT) ("VCG"), a leading owner, operator
and consolidator of adult nightclubs, today reported that its
consolidated nightclub revenues increased by 78.9% in September
2005 to $1,174,250, as compared to $656,256 in September 2004.
Also, the VCG's consolidated same-store sales increased 1.91% in
September, as compared to the same period in 2004. Sales in
September were driven by increases in the number of customers for
same-store sales and by the addition of two stores during 2005 as
compared to the same period in 2004. Troy Lowrie, VCG's Chief
Executive Officer, commented: "We are very pleased with the
September results and the third quarter as a whole. September is
typically a slower revenue month than August because of the Labor
Day holiday, and the decrease between August and September in 2005
is in line with our experience. For the quarter, our same-store
revenues are up approximately 4% over the third quarter last year.
We believe that this is a direct reflection of our successful
marketing initiatives." About VCG Holding Corp. VCG Holding Corp.
is an owner, operator and consolidator of adult nightclubs
throughout the United States. The Company currently owns six adult
nightclubs, one upscale dance lounge and operates seven other adult
nightclubs under management agreements. The owned and managed clubs
are located in Indianapolis, St. Louis, Denver, Phoenix, and
Louisville. Forward-looking statements Statements contained in this
press release concerning future results, performance or
expectations are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These
statements include statements regarding the intent, belief or
current expectations of the Company and members of its management
team, as well as assumptions on which such statements are based.
All forward-looking statements in this press release are based upon
information available to the Company on the date of this press
release. Forward-looking statements involve a number of risks and
uncertainties, and other factors, that could cause actual results,
performance or developments to differ materially from those
expressed or implied by those forward-looking statements including
the following: failure of facts to conform to necessary management
estimates and assumptions; the Company's ability to identify and
secure suitable locations for new nightclubs on acceptable terms,
open the anticipated number of new nightclubs on time and within
budget, achieve anticipated rates of same-store sales, hire and
train additional nightclub personnel and integrate new nightclubs
into its operations; the continued implementation of the Company's
business discipline over a large nightclub base; unexpected
increases in cost of sales or employee, pre-opening or other
expenses; the economic conditions in the new markets into which the
Company expands and possible uncertainties in the customer base in
these areas; fluctuations in quarterly operating results;
seasonality; changes in customer spending patterns; the impact of
any negative publicity or public attitudes; competitive pressures
from other national and regional nightclub chains; business
conditions, such as inflation or a recession, or other negative
effect on nightclub patterns, or some other negative effect on the
economy, in general, including (without limitation) growth in the
nightclub industry and the general economy; changes in monetary and
fiscal policies, laws and regulations; war, insurrection and/or
terrorist attacks on United States soil; and other risks identified
from time to time in the Company's SEC reports, including the
Annual Report on Form 10-KSB for 2004, Quarterly Reports on Form
10-QSB and Current Reports on Form 8-K, registration statements,
press releases and other communications, and amendments thereto The
Company undertakes no obligation to update or revise
forward-looking statements to reflect changed assumptions, the
occurrence of unanticipated events or changes to future operating
results over time.
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