Rick's Cabaret International, Inc. Q2 Nightclub Revenues Rise 13.1 Percent To Record $28.3 Million
HOUSTON, April 11, 2013 /PRNewswire/ -- Rick's Cabaret International, Inc. (NasdaqGM:RICK) nightclub revenues for the second quarter ended March 31st rose 13.1 percent to a record $28.3 million, compared with $25 million in the previous year.
Revenues were boosted by the contribution of $3.7 million in sales from the recently acquired Jaguars clubs in Texas and Arizona, and nearly half a million dollars in revenue from the two non-adult restaurant-nightclubs in Texas.
"We are pleased with the initial sales contribution of the Jaguars clubs we acquired last year and we believe these venues will continue to grow as our marketing programs kick in," said Eric Langan, president and CEO of Rick's Cabaret, which now operates 37 clubs nationwide. "We also are very happy with the launch of our new Bombshells restaurant/nightclub in Dallas, and we believe this concept has the potential for significant growth." Mr. Langan said same store sales nationwide were off 3.7 percent from the same quarter last year, largely because of the slow start in the hockey season and the fact that the company did not have a club in a city hosting a Super Bowl this year.
About Rick's Cabaret: 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, Charlotte, Dallas/Ft. Worth, Houston, Minneapolis, Indianapolis and other cities are named "Rick's Cabaret," "XTC," "Club Onyx" and "Tootsie's Cabaret" and other brand names. Sexual contact is not permitted at any locations. Rick's Cabaret also operates a media division, ED Publications. Rick's Cabaret common stock is traded on NASDAQ under the symbol RICK. For further information contact firstname.lastname@example.org or visit www.ricksinvestor.com. Twitter: @rickscabaret; Facebook: http://www.facebook.com/rickscabaretintl.
Forward-looking Statements: 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 press release, 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.ricksinvestor.com.
SOURCE Rick's Cabaret International, Inc.