Rick’s Cabaret International, Inc. (NASDAQ:RICK), the nation’s
premier operator of upscale gentlemen’s cubs, said revenues at its
nightclubs rose 30.3 percent in the quarter ending June 30, 2009, to
$20.7M, setting a new company record for quarterly sales.
The increase in revenues was attributed primarily to improving sales at
the company’s Rick’s Cabaret Las Vegas club.
For the quarter, company-wide same store sales declined 5.5 percent, to
$14.1M, although the company noted that overall same store sales in June
showed an increase of .25 percent, with gains at the Rick’s Cabaret
clubs in New York City and San Antonio.
“This is the first time we’ve ever exceeded $20 million in sales in a
single quarter,” said Eric Langan, President and CEO of Rick’s
Cabaret. “We are starting to see some winners emerge in certain markets.
The marketing and operational changes we have made throughout the
organization should put us in an excellent position to grow organically
as the economy recovers and we will continue to focus our resources on
increasing market share.”
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, operates or licenses
adult nightclubs in New York City, Miami, Las Vegas, Philadelphia, New
Orleans, Charlotte, Dallas, Houston, Minneapolis and other cities 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 Web site, 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.
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.
Rick’s Cabaret International, Inc.
Allan Priaulx,
212-338-0050
ir@ricks.com
