Rick's Cabaret International, Inc. Issues Earnings Guidance Range For 2010 of $ .95 to $1.05 Per Share
HOUSTON - (January 13, 2010) - Rick's Cabaret International,
the leading chain of upscale gentlemen's clubs, today issued guidance to investors on its anticipated performance in fiscal 2010.
The company believes it will earn in the range of $ .95 to $1.05 per share during the fiscal year on revenues that will range between $84 million and $86 million.
"While things could change we believe we have a good feel for how our clubs will perform through the end of September," said Eric Langan
, President and CEO. He added that the guidance assumes continued organic growth, revenues generated during the Pro Bowl
and Super Bowl
being held in Miami and the NBA All Star Game
to be held in Dallas,and no unforeseen events, but does not assume any additional acquisitions.
The company resumed its acquisition program in the last quarter of 2009 with the purchase of two additional nightclubs and of property for another club near the Dallas Fort Worth Airport that is expected to be open in the second half of 2010.
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 cities where it operates, the success or lack thereof in launching and building the company’s businesses, 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 visit www.ricks.com.
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, Miami, Philadelphia, Las Vegas, New Orleans, Charlotte, Dallas, Houston, Minneapolis and other cities 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 Publication, and owns the adult Internet membership Web site, 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 the NASDAQ Global Market under the symbol RICK. For further information contact [email protected].
Media Contact: Allan Priaulx, 212-338-0050, [email protected]