Rick's Cabaret Reports $2,273,347 In February Nightclub Revenues, Up 12 Percent Over 2006
HOUSTON -(March 12, 2007)
- Rick's Cabaret International,
Inc. [NASDAQ:RICK],
today reported revenues of $2,273,347 at its 13 nightclubs in February,
an increase of about 12 percent from the $2,027,172 reported in
February 2006.
The company said severe winter weather caused five of its nightclubs
in Austin and San Antonio to close or curtail operations for about
five days during February.
Same store sales were $1,954,177, a 3.6 percent decline from the
$2,027,172 registered last year, when the company benefited from
about $300,000 in sales at its Houston Club Onyx location during
the NBA All-Star Game.
The Rick's Cabaret-NYC recorded revenues about 32 percent higher
than February 2006. The new Club Onyx in Charlotte reported sales
that were about 50 percent higher than last year, when the location
was operating as a Rick's Cabaret.
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
www.naughtybids.com. Rick's
Cabaret common stock is traded on NASDAQ under the symbol RICK.
For further information contact [email protected]
or visit www.ricks.com.
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 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.