Company & Investor Information
Beneficial Ownership of Insiders
Join Our Newsletter
If you would like to receive all corporate news releases by email, send your request to
. We’ll make sure you are on the list. You can remove yourself at any time by clicking the "Unsubscribe" button at the bottom of these emails.
Rick's Cabaret International, Inc., Board Authorizes Repurchase of More Common Stock
Houston -- (September 16, 2003)
-- The Board of Directors of Rick's Cabaret International, Inc.
, operator of a chain of adult-themed restaurants and bars, has authorized the repurchase of up to $500,000 worth of the company's common stock.
The new repurchase authorization follows the completion of the repurchase last year of 208,530 shares of Rick's Cabaret common stock at an average price of 2.39 per share.
"We believe our shares continue to be undervalued and the action by the board reflects our continuing confidence in the future of our company," according to Eric Langan CEO of Rick's Cabaret. The company had 3,715,048 shares outstanding on June 30, 2003.
About Rick's Cabaret
Rick's Cabaret International, Inc. (
) is organized into two business lines: 1) Nightclubs and entertainment, comprising Rick's Cabaret gentlemen's clubs in Houston and Minneapolis, XTC Clubs in San Antonio and Austin and, 2) Internet activities, which encompass subscription adult entertainment sites such as the
and seven auction sites operating under the flagship
, which earn revenue through Webmaster referral fees and by providing a marketplace for adult paraphernalia.
This press release contains forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause Rick's actual results to differ materially from those indicated in this press release include the risks and uncertainties as to the future operational and financial results of our Web sites, the future operational performance of our partners, the laws governing the operation of adult entertainment businesses, competitive factors, dependence on key personnel and the ability to manage operations. Rick's has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances.
Allan Priaulx, 212-338-0050,