July 10, 2007 12:21am
Rick's June Sales Another Record High
Source: Rick's Cabaret International, Inc.
by: Company Press Release
(HOUSTON, TX) -- Rick’s Cabaret International, Inc. (Nasdaq: Rick), operator of upscale gentlemen’s clubs, today reported June nightclub sales of $2,956,787, the second consecutive month of record revenues.
The 38 percent increase over sales in June 2006 was driven by continued development at the company’s flagship New York City club and contributions from the newest clubs in Ft. Worth, Austin and San Antonio in Texas.
Same store sales were up more than 9 percent to $2,338,642 compared with the June 2006 total of $2,142,148.
"We are pleased with the continued growth in our overall revenue and we remain on track to meet our gross revenue target of $32-$34 million for our fiscal year ending September 30th," said Eric Langan, President and Ceo of the company.
The previous record monthly nightclub income for the company was in May 2007, when sales were $2,831,807.
About Rick’s Cabaret:
Rick’s Cabaret International, Inc. (Nasdaq: Rick) operates upscale adult nightclubs serving primarily businessmen and professionals that offer live adult entertainment, restaurant and bar operations. The company owns and operates or licenses adult nightclubs in New York City, New Orleans, Charlotte, Houston, Minneapolis and other cities under the names "Rick's Cabaret," "XTC" and "Club Onyx." 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 online adult auction sites under the flagship URL naughtybids.com. Rick’s Cabaret common stock is traded on Nasdaq under the symbol Rick. For further information contact ir@ricks.com.
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 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.
Media Contact: Allan Priaulx, 212-338-0050 ir@ricks.com
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