Quick Index
 Adult Industry News
Search AINews Database
Type Keyword or Phrase Here
Pornography feminists unshackle their desires and celebrate their sexuality in the patriarchal world EXPO 2015, August 23-26, New Orleans
   
 

Front Page
Film News
Media News
Business News
Clubs & Appearances
Law & Politics
Internet & Mobile News
Lifestyles Arts Health Charity
Letters to the Editor
Columns
Movie Spotlight Reviews
Interviews
Pornstar Pages
AINews Staff
Ad Rates
PR 101: Press Release Service

Caliente Nudist Vacations!

Join Tera Patrick

August 13, 2001 02:26pm
Rick's Cabaret International Announces Record Quarterly Earnings, Revenue Increase
Source: Rick's Cabaret International Inc.
by: Press Release

(HOUSTON, TX) -- Rick's Cabaret International Inc.today announced record quarterly net income of $602,000, or 14 cents per share, for the three months ended June 30, 2001, on revenues of $5.1 million. This compares to net income of $73,000, or 2 cents per share, for the same quarter last year on revenues of $3.1 million.

For the nine months ended June 30, 2001, the Company reported net income of $1.0 million, or 23 cents per share, on revenues of $15.5 million. For the same period a year earlier, the Company's net income was $44,000, or 1 cent per share, on revenues of $8.6 million.

For the trailing 12 months ended June 30, 2001, the Company's net income was $1.2 million, or 27 cents per share, on revenues of $19.7 million, compared to a loss of $464,000, or 13 cents per share, on revenues of $10.6 million in the same period a year earlier.

Eric Langan, president and CEO of Rick's, commented, ``We are very pleased with these record quarterly results, which included profit contributions from both our club and Internet operations. For the nine months ended June 30, 2001, Internet operations produced 35% of revenues and 38% of gross profit, before deduction of corporate expenses. This rapid growth in both revenues and profits from our Internet operations has coincided with excellent results from our clubs -- all six of which operated profitably during the quarter.''

Mr. Langan continued, ``The record results increased book value, or stockholders' equity, to $9.7 million, or approximately $2.25 per share. At current market prices, Rick's common stock is selling at less than 10 times earnings trailing 12 months earnings and below book value. Earlier this year, the Board of Directors adopted a plan to repurchase up to $500,000 of the Company's stock. In view of current circumstances, we plan to proceed with the plan. To date, the Company has repurchased approximately $42,000 of common stock at an average price of $2.36 per share.''

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 during the 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.

(Data redacted)

Contact:
Rick's Cabaret International Inc., Houston
Eric Langan, 281/820-1181
E-mail: eric@ricks.com
or
The Howell Group, Dallas
Larry Howell, 214/368-1592
E-mail: howgroup@ricks.com

Pornography feminists unshackle their desires and celebrate their sexuality in the patriarchal world


RavenBay01.3gp

See BiBi Jones at Digital Playground

Top Stories

Lex's Tattooed Vixens 2

Little Sassee Cassee in OK

Dollie Darko with 101 Modeling

Dee, Michaels in Alabama

Nikki Benz Headlines Ohio

Raven Bay's Big Tits

Adult Film Fest LV October

AVN Tickets On Sale

Galaxy Stars to Exxxotica

Exxxotica Dallas Official Statement

Danger Builds Darth Vibrader

Caribbean Playground Party

Lesbian Training Day 4

Vice is Nice Event

Rock’N’SeXXXy UnCensored Thursday

Casting Call

5X Raven Bay

Desiree Deluca on TV

MWA: 07/12/15

ABK Beta Users Free

Casey Calvert's IR Gangbang

After Hours on CyberstationUSA

D Wise Fights for Life

Girlfriends Celebrates Caitlyn Jenner

The V Agency Joins LATATA

Amateur Allure New Lines

ED Awards Host Thea Vidale

Freedom Acres Anniversary Party

Throwback Expo Registration Rates!

Tanya Tate at Comic Con

Bridget the Midget at Vivid Houston

Amia Miley Brazzers Contract

Epoch Club Special Event

Shade X from Smash

BBW Con 2015

UKAP Awards Site Live

Nikki Phoenix Radio Update

Ideal Image Supperclub Party

MWA: 06/12/15

XBIZ 2016 Announced

The Interview XXX

Starfall to Exxxotica

Mercy West Available

Library Girl at Exxxotica

Karmen Karma Top Shelf

MWA: 06/08/15

More
Stories From

Business News

Casting Call

ABK Beta Users Free

Dollie Darko with 101 Modeling

Mercy West Available

The V Agency Joins LATATA

Sin Claire with Foxxx

New Smash VP Wyatt Case

Epoch Club Special Event

Ink Inks OC, The Rub

XBIZ 2016 Announced

RAW Signs Sasha Bradshaw

Direct Reps Harper

SashaBrabuster's XXX Comeback

AJ Applegate Available

Freedom Acres Open House

Global Adult Industry Association

Tod Hunter Press Releases

Cumisha Amado at Sagebrush

J.Lo Doc Johnson Offer

Passport to Hustler Event

Advertise on AINews

Freedom Acres Location

Nina Elle Retains Star Factory

Karen Summer Returns

She's Judas & Available

Camming Con Moves Dates

Exquisite Distributes DDF

Cherie Deville Returns

Roxanne Rae Available

Cherie Deville Available

Maryjean Available in LA

Alicia Silver Productions Content

Thomas Bagley Outed Belle Knox

Casting Call for 'Operation: Outdoors'

Mission Control Open House

Cherie Deville in LA

PASS Holiday Schedule

Santa Susana Pass Location

Sure Fuck Clothing Line

Nadia Night With Lucky Devil

Richelle Ryan Available

LATATA Responds to FSC

FSC Burdens Performers

Online Dating Summit Curacao

Tanya Tate Action Figure

Cam Studio Rental Rates

Sportsheets ILS Blitz

Fantasy Lingerie Storerotica Noms

New Networking Event

Baci Announces New Distributor

AINews New Look

Business News Section Index

     
Copyright © 1998 - 2015 Adult Industry News (AINews.com)
All materials constituting text, articles, press releases, stories, columns, photographs, graphics, and code on the AINews.com domain are protected by copyright, and either owned by Adult Industry News (AINews.com), or reproduced with permission from other copyright owners. It may be downloaded and printed for personal reference, but not otherwise copied, altered in any way, or transmitted to others, without the written permission of Adult Industry News (AINews.com).