Rick's Cabaret September Nightclub Sales Rise 28.4 Percent Over Previous Year; Sales For Fourth Quarter Up 43 Percent
HOUSTON-(October 10, 2007)-Rick's Cabaret International,
operator of upscale gentlemen's clubs, today reported September
sales at its nightclubs of $2,804,740, a 28.4 percent increase over
sales in September 2006.
The increase from September 2006 sales of $2,183,659 was attributed
to continuing strong gains at the company's flagship club in New
York City along with contributions from newer clubs in Fort Worth,
San Antonio and Austin, Texas.
Same-club, same period sales were up 8.63 percent, to $2,372,158.
Nightclub sales for the three months from July through September
total $8,789,261, a 43.19 percent increase over the $6,138,252 in
the same period last year.
"Our sales for the fourth quarter were up more than 43 percent
over the same period last year and are right in line with our revenue
projections. We are quite satisfied with the results," said
Eric Langan, President and CEO of Rick's Cabaret International,
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 and operates or licenses adult nightclubs in New
York City, New Orleans, Charlotte, Houston, Minneapolis and other
cities under the names "Rick's Cabaret," "XTC"
and "Club Onyx." No sexual contact is permitted at any
of these locations. Rick's Cabaret also owns the adult Internet
membership Web site, couplestouch.com,
and a network of online adult auction sites under the flagship URL
Cabaret common stock is traded on NASDAQ under the symbol RICK.
For further information contact [email protected].
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 New York City and elsewhere; the success or lack thereof
in launching and building the company's businesses in New York City
and elsewhere; 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; unexpected increases
in costs 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; the impact of any negative
publicity or public attitudes; competitive pressure from other national
and regional nightclub chains; 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
go to www.ricks.com.