Rick's Cabaret International, Inc. Reports June Nightclub Sales of $6.36 Million
HOUSTON - (July 8, 2010) - Rick's Cabaret International, Inc. [NASDAQ-GM:RICK], the nation's leading chain of upscale gentlemen's clubs, had revenues of $6.36 million at its nightclubs in June.
The June revenues brought total nightclub sales for the company's third quarter ending June 30 to $19.58 million.
Eric Langan, President and CEO of the company, said: "Generally our revenues are holding up, although we are working on improving sales at several clubs that have been impacted by market-specific economic weakness."
Companywide revenues were up 4.2 percent compared with the $6.1 million reported in 2009. Same club-same month revenues compared with 2009 were off 5.4 percent, primarily because of lower revenues at the Las Vegas Rick's Cabaret and at the Club Onyx locations in Philadelphia and Charlotte.
About Rick's Cabaret:
Rick's Cabaret International, Inc. (NASDAQ: RICK) is home to upscale adult nightclubs serving primarily businessmen and professionals that offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, New Orleans, 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 www.couplestouch.com as well as a network of online adult auction sites under the flagship URL www.naughtybids.com. Rick's Cabaret common stock is traded on NASDAQ under the symbol RICK. For further information contact [email protected].
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 www.ricksinvestor.com.
Contact: Allan Priaulx, 212-338-0050, [email protected]