September 07, 2006 07:00am
Rick's Cabaret Exceeds $2 Million
Source: Rick’s Cabaret International, Inc.
by: Company Press Release
(HOUSTON, TX) -- Rick’s Cabaret International, Inc. (Nasdaq: Rick) recorded nightclub sales of $2,039,605 in the month of August, a 61.52 percent increase over the total of $1,262,726 for the same month in the previous year.
"We are pleased with the continuing overall growth of our nightclub business and we are particularly happy with the performance of the Rick’s Cabaret clubs in New York City and Minneapolis, and our XTC club in San Antonio," said Eric Langan, President and CEO of Rick’s Cabaret.
Same club sales in August 2006 were $1,426,069, compared with $1,262,726 in August 2005. Prior year sales did not include the New York City Rick’s Cabaret, which opened in September 2005, or the two new San Antonio clubs that were open for only part of the month of August 2006.
Sales for the first two months of the company’s fourth quarter, which ends September 30, 2006, were $3,954,569 compared with $2,545,702 for the first two months of last year’s fourth quarter, an increase of 55.34 percent.
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.
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.
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