May 23, 2001 11:02am
Rick's Cabaret Included in `Houston 100'
Source: Rick's Cabaret International Inc.
by: Company Press Release
(HOUSTON, TX) -- Rick's Cabaret International Inc. (Nasdaq:RICK - news), the Houston-based adult Internet content provider and entertainment chain, announced today that ``The Houston Chronicle,'' in its annual ``Houston 100'' survey of the area's top corporations, ranked the Company No. 31 in earnings per share growth (up 214.3%) and No. 47 in revenue growth (up 54.1%), based on calendar 2000 results compared to those of the previous year.
``We are very pleased to rank so well in the Chronicle's survey,'' said Eric Langan, president and CEO of Rick's, ``especially when considered in light of the excellent year the energy industry enjoyed. All of the top ten companies in the survey are energy-related and had earnings per share growth of 600% or above.''
Rick's Cabaret International Inc. opened its first ``Rick's Cabaret'' in Houston in 1983 and went public with its IPO in 1995, making Rick's the world's first publicly traded topless entertainment business. Rick's owns and operates premier adult entertainment Internet Web sites, such as www.DancerDorm.com and www.xxxpassword.com. The Company's Internet site for the auction of adult items, www.NaughtyBids.com, was launched subsequent to the end of last quarter. Rick's also owns and/or operates four Rick's Cabaret locations, three of which are in Houston and one of which is in Minneapolis. Rick's also owns XTC Cabaret in San Antonio and XTC Cabaret in Austin, Texas, through its 93% owned subsidiary, Taurus Entertainment Companies Inc. Rick's and its subsidiaries own all the real estate properties where their cabarets and Internet production studio are located except its south Houston location, which is leased.
Other companies in the adult entertainment industry include Playboy Enterprises Inc., New Frontier Media Inc. and Private Media Group Inc.
This press release contains forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause Rick's actual results to differ materially from those indicated in this press release include the risks and uncertainties related to the growth of Rick's Internet operations, the future operational strength of Voice Media, whether the definitive documentation will ultimately be executed, the growth of Rick's cabaret operations, the laws governing the operation of adult entertainment businesses, competitive factors, dependence on key personnel and the ability to manage operations. Rick's has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances.
Rick's Cabaret International Inc., Houston
Eric Langan, 281/820-1181
The Howell Group, Dallas
Larry Howell, 214/368-1592