Rick's Cabaret International, Inc. Nightclub Sales Rise 12.5 Percent In First Quarter Of 2012 Fiscal Year
HOUSTON – (January 10, 2012) –
International, Inc. (NASDAQ:RICK), the nation’s leading group of
premiere gentlemen’s clubs, reported a 12.5 percent increase in revenues from
its nightclubs for the first fiscal quarter ending Dec. 31, 2011. Sales rose to
$21.7 million from $19.3 million.
Comparable sales at clubs open for more than one year rose by 6.7 percent to
The overall rise in sales was driven by an 18.5 percent increase in revenues in
December, with more modest increases in October and November. The figures do not
include sales at the now-closed Rick’s Cabaret in Las Vegas, which was
discontinued in April 2011.
“We are very pleased with the growth trend and if it continues we should achieve
our goals for the fiscal year,” said Eric Langan, President and CEO of
Rick’s Cabaret, which operates 23 clubs nationally. He noted that Rick’s
Cabaret/Austin, XTC Cabaret/Dallas, Cabaret East/Ft. Worth, Rick’s Cabaret/San
Antonio, and Rick’s Cabaret/Minneapolis all reported strong gains, as did Club
Onyx locations in Philadelphia, Charlotte and Houston.
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 couplestouch.com as
well as a network of online adult auction sites under the flagship URL
naughtybids.com. Rick’s Cabaret common stock is traded on NASDAQ under the
symbol RICK. For further information contact
Forward-looking Statements: Certain statements contained in this release
regarding Rick's Cabaret future operating results or performance or business
plans or prospects and any other statements not constituting historical fact are
"forward-looking statements" subject to the safe harbor created by the Private
Securities Litigation Reform Act of 1995. Where possible, the words "believe,"
"expect," "anticipate," "intent," "would," "will," "planned," "estimated,"
"potential," "goal," "outlook," and similar expressions, as they relate to the
company or its management have been used to identify such forward-looking
statements. All forward-looking statements reflect only current beliefs and
assumptions with respect to future business plans, prospects, decisions and
results, and are based on information currently available to the company.
Accordingly, the statements are subject to significant risks, uncertainties and
contingencies, which could cause the company‘s actual operating results,
performance or business plans or prospects to differ materially from those
expressed in, or implied by, these statements. Such risks, uncertainties and
contingencies include, but are not limited to, risks and uncertainties
associated with (i) operating and managing an adult business, (ii) the business
climates in cities where the company operates, (iii) the success or lack thereof
in launching and building the company’s businesses, (iv) the operational and
financial results of the company's adult nightclubs, (v) conditions relevant to
real estate transactions, (vi) the loss of key personnel, and (vii) laws
governing the operation of adult entertainment businesses. Additional factors
that could cause the company’s results to differ materially from those described
in the forward-looking statements are described in forms filed with the SEC from
time to time and available at
www.ricksinvestor.com or on the SEC's internet website at
www.sec.gov. Unless required by law, Rick's
Cabaret does not undertake any obligation to update publicly any forward-looking
statements, whether as a result of new information, future events, or otherwise.
Contact: Allan Priaulx, 212-338-0050,