Rick's Cabaret Consolidated Club Sales For October Increase By 56.2 Per Cent Over Previous Year, Driven By Impact Of New York City And Charlotte Clubs
HOUSTON -(November 7,2005)- Rick's Cabaret International,
today its consolidated club sales for October 2005 increased by
56.2 percent over the same month last year, driven in large part
by revenue from new nightclubs in New York City and Charlotte, NC,
and a sharp increase in alcoholic beverage and service sales. Rick's
Cabaret operates adult nightclubs in four states.
nightclub revenue for the month of October 2005 was $1,778,639,
compared with $1,138,742 in October 2004. Same club-same period
nightclub revenue also rose by 10.3 percent in October over the
same month last year, to $1,256,010 from $1,138,742. The figures
do not include the former Rick’s South Houston location, which
was sold in March 2005.
“The increased revenue demonstrates the significant impact
of our new midtown Manhattan location, which opened in September,
and the growing brand name recognition that New York City brings
to the company's other markets ” according to Eric Langan,
CEO of Rick’s Cabaret. “We believe this increased brand
recognition will allow us to remain a leader in the industry consolidation
that is taking place at this time,” he added.
The consolidated revenue figures included a 70.6 percent rise in
alcoholic beverage sales, from $428,015 to $730,330, and a 49.7
percent increase in service revenues, from $552,550 to $827,071.
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, operates or licenses adult
nightclubs in New York City, New Orleans, Houston, Minneapolis 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, www.couplestouch.com,
and a network of nine online auction sites for adult products under
the flagship URL www.naughtybids.com.
Rick’s Cabaret common stock is traded on the NASDAQ SmallCap
market under the symbol RICK. For further information contact [email protected].
This press release may contain forward-looking information within
the meaning of Section 21E of the Securities Exchange Act of 1934
that involves significant risks and uncertainties, and is subject
to the safe harbors created by this section. Important factors that
could cause actual results for Rick's Cabaret to differ materially
from those indicated in this press release include the risks and
uncertainties as to the future operational and financial results
of our Web sites, conditions relevant to real estate transactions,
the future operational performance of our partners, the laws governing
the operation of adult entertainment businesses, competitive and
economic factors, dependence on key personnel and the ability to
manage operations. Rick's Cabaret has no obligation to update or
revise the forward-looking statements to reflect the occurrence
of future events or circumstances. Please refer to the documents
Rick’s Cabaret files from time to time with the Securities
and Exchange Commission, in particular the most recent quarterly
reports on Form 10-QSB and annual report on Form 10-KSB, which are
available at the Company’s website, www.ricks.com.
Rick's Contact: Allan Priaulx, 212-338-0050, [email protected]