Rick's Cabaret International, Inc. September Night Club Sales Up 11.5 Percent, To $6.6 Million
HOUSTON - (October 7, 2010) – Rick's Cabaret International, Inc. [NASDAQ-GM:RICK], the nation's leading gentlemen's club operator, reported total revenues at its adult nightclubs in September of $6.57 million, an 11.5 percent increase over the $5.88 million sales in September 2009.
Comparable sales at same clubs open more than one year were $5.78 million, just under one percent lower than the $5.83 million reported in 2009. If Rick’s Cabaret Las Vegas were removed from the calculation, same store sales for the month would have increased 5.9 percent.
"On the whole we were pleased with the September nightclub revenues and note that sales are increasing in most of our markets nationwide," said Eric Langan, President and CEO of Rick's Cabaret.
The September club sales report will be the company's last monthly nightclub sales report. Rick's Cabaret will begin issuing quarterly sales reports beginning in January 2011. Rick's Cabaret will report its full fourth quarter results in December, when it issues its 2010 Form 10-K.
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.ricks.com.
Contact: Allan Priaulx, 212-338-0050, [email protected]