Rick's Cabaret International, Inc. Reports March Sales Rose 11.1 Percent In March To $7.5 Million
HOUSTON, TEXAS - (April 8, 2010) - Rick's Cabaret International,
owner of leading scale gentlemen's clubs, said today its nightclub sales in March were $7.5 million, an 11.1 percent increase over the $6.75 million reported in the previous year. Same club sales were $6.88 million, a 3.5percent increase over March 2009.
The March nightclub revenues brought sales for the company's second quarter to $21.97 million, an increase of about 21.6percent over the $18.07million reported for the same quarter in 2009.
"We are quite satisfied with the performance of most of our clubs and are particularly pleased that Rick's Cabaret New York City continued its sequential growth pattern; Club Onyx Dallas was outstanding; and we had growth at all of the XTC Cabaret clubs in Texas, particularly the Dallas location," said Eric Langan, President and CEO of Rick's Cabaret. "Also, our two newest clubs, Joy of Austin and Cabaret North Ft. Worth, have begun to make significant revenue contributions."
Forward Looking Statements
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) 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 www.couplestouch.com as well as a network of online adult auction sites under the flagship URL www.naughtybids.com. Rick's Cabaret common stock is traded on NASDAQ under the symbol RICK. For further information contact [email protected].
Contact: Allan Priaulx, 212-338-0050, [email protected]