Rick's Cabaret Issues 2007 Forecast In Conference Call With Investors
HOUSTON -(December 28, 2006)- Rick's Cabaret International,
guidance for the 2007 fiscal year today during a conference call
Eric Langan, President and CEO of the company,
said he believes Rick's Cabaret will have revenues between $32 and
$34 million for the year ending September 30, 2007. Net after tax
income should be in the $2.6 to $2.8 million range, with earnings
per share of about 48 cents.
Mr. Langan said factors that could impact earnings include the company's
ability to complete new acquisitions, obtain satisfactory financing
and to grow revenues at existing clubs.
The company today reported revenues of $24,487,215 for the year
ending September 30, 2006, with net income of $1,752,714 and earnings
of 38 cents per share.
About Rick's Cabaret
Rick's Cabaret International, Inc. (NASDAQ: RICK, www.ricks.com)
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, www.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]
or visit www.ricks.com.
This press release may contain 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,
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.