March 09, 2006 12:11am
Rick's Cabaret Nightclub Up 92%
Source: Rick's Cabaret International, Inc.
by: Company Press Release
(HOUSTON, TX) -- Rick's Cabaret International, Inc. (NASDAQ: Rick) 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, 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, Charlotte 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, CouplesTouch.com, and a network of nine online auction sites for adult products under the flagship URL NaughtyBids.com. Rick's Cabaret common stock is traded on the NASDAQ SmallCap market under the symbol Rick. For further investor information contact IR@Ricks.com.
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 Ricks.com or email info@Ricks.com.
Contact for further information: Allan Priaulx, 212-338-0050, IR@Ricks.com