Rick's Cabaret International, Inc. Reports Strong August Sales, Up Nearly 10 Percent Over Previous Year
HOUSTON- (September 10, 2009) - Rick's Cabaret International,
Inc. [NASDAQ-GM:RICK], the nation's leading chain of upscale gentlemen's clubs, reported nightclub sales of $6.1 million in August, a 9.9 percent increase over the same month a year ago.
The company said same club sales were down 3.49 percent from a year ago, chiefly because August had five Thursdays and Fridays in 2008 compared with four in 2009.
"This was a strong month for us and we are pleased that we are continuing to increase our overall numbers on a sequential basis," said Eric Langan, President and CEO of the company. "We anticipate continued growth in coming months."
Mr. Langan said sales at the company’s New York City Rick's Cabaret were up 4.86 percent, continuing the revenue increases that club has reported for the past year.
The August revenue report does not include sales in the company's internet and media divisions, which will be reported when quarterly results are announced.
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, Philadelphia, Las Vegas, 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 Publication, 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 the NASDAQ Global Market 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 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 www.ricks.com.
Media Contact: Allan Priaulx, 212-338-0050, [email protected]