Rick's Cabaret Reports Record February Nightclub Sales; Revenues Exceed $2 Million For First Time, Up 92% From Previous Year
(March 9, 2006)- Rick's Cabaret International, Inc.
today reported sales in February 2006 of $2,027,225 for its national
chain of gentlemen's nightclubs, the first time in the company's
history that revenues have exceeded $2 million in a single month.
February 2006 nightclub revenues were up 92 percent from the $1,055,892
registered in February 2005.
Same club sales increased 52 percent to $1,601,742 from $1,055,892
in the previous year.
"All of our existing clubs showed a year-over-year increase
in revenue in February. Our Club Onyx in Houston had an outstanding
month as our NBA All-Star Week promotions proved highly effective.
We also had another solid month at Rick's Cabaret-New York City,"
stated Eric Langan, President and CEO of Rick's Cabaret. Mr. Langan
said February revenues more than doubled at Rick's Cabaret-Charlotte.
The company has operated the Charlotte club since February 2005
and it is now included in same store sales figures.
The company's total nightclub revenues for the first two months
of the second quarter this year were $3,785,680 compared with $2,038,692
in the previous year.
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, 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 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 www.ricks.com
Contact for further information: Allan Priaulx, 212-338-0050,