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Rick's Cabaret Nightclub Sales Continue To Climb; Up 75.45 Percent in May
RICK'S CABARET NIGHTCLUB SALES CONTINUE TO CLIMB; UP 75.45 PERCENT IN MAY
(June 6, 2006)
- Rick's Cabaret International, Inc.
, said revenues from its national chain of gentlemen's clubs increased 75.45 percent in May 2006 from the same month a year earlier. The increase was driven by the continued strong growth of the company's upscale club in New York City and a 24.85 percent increase in same store sales.
Total nightclub sales for May 2006 were $1,993,866, compared with $1,136,370 in 2005. The figures for May 2006 include revenues from Rick's Cabaret-NYC, which opened in September 2005, and a small revenue contribution from the newest Rick's location in South Houston, TX, which the company acquired in mid-May. Same store sales in May 2006 were $1,418,780, compared with $1,136,370 last year.
"We are maintaining upward momentum as we move through the year," said Eric Langan, President and CEO of Rick's Cabaret. "Our newest club in South Houston, TX, has begun to contribute revenue, our existing clubs are strong and our New York City club continues its steady growth."
Results so far in the company's third quarter, which ends June 30, show a 71.32 percent increase in total nightclub sales over 2005 and a 25.01 percent increase in same store sales.
About Rick's Cabaret
Rick's Cabaret International, Inc. (NASDAQ: RICK,
) operates upscale adult nightclubs serving primarily businessmen and professionals that offer live adult entertainment, restaurant and bar operations. The company owns, operates or licenses adult nightclubs in New York City, New Orleans, Houston, Minneapolis, Charlotte and other cities under the names "Rick's Cabaret," "XTC," "Club Onyx" and "Hummers." No sexual contact is permitted at any of these locations. Rick's Cabaret also owns the adult Internet membership Web site,
, and a network of nine online auction sites for adult products under the flagship URL
. Rick's Cabaret common stock is traded on the NASDAQ SmallCap market under the symbol RICK. For further information contact
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, 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
Contact for further information: Allan Priaulx, 212-338-0050,