Rick's Cabaret Reports Record Monthly Nightclub Revenues with Sales of More Than $2.5 Million in December
HOUSTON -(January 9, 2007)- Rick's Cabaret International, Inc.
publicly traded national chain of gentlemen's clubs, recorded sales
in its nightclubs of $2,534,659 in December 2006, setting a new
record for the company.
Sales were up nearly 31 percent from the previous December, led
by an 80 percent increase in revenues at the company's flagship
New York City club, as well as strong sales at the new Club Onyx
in Charlotte, NC, which was launched in mid-December after its conversion
to the Onyx brand from Rick's Cabaret.
"We are very happy with our overall performance in December
and believe we are well on our way to achieving our goal of approximately
a 40 percent companywide revenue increase during fiscal 2007,"
said Eric Langan, President and CEO of Rick's Cabaret. "The
total for the month exceeded our previous best month, which was
September 2005 when we had nightclub sales of $2,183,660."
Quarterly revenues from the company's nightclub segment for the
first quarter ending December 31, 2006 are $6,829,350, an increase
of nearly 23 percent compared with the $5,562,390 registered in
the first quarter of 2005.
Monthly same club sales for the chain in December were $2,240,282,
a nearly 16 percent increase over December 2005, when sales at existing
clubs totaled $1,936,634. New clubs in Austin and San Antonio have
also begun to contribute to the company‚s top line, with $294,377
in revenues in December.
The company said that because of subsequent reconciliations, previous
year figures may be slightly different from those originally announced.
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.