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YOU ARE CORRECT MY FRIEND!! POST 162 Dated 6/10 RICK was at $7.90...Great call and a person mark for you!!!
i take partial credit. i called this back in post 162 and then it turned around!
lol WHEEEEEE ! Is right !
Goooooooo nudie bars !!
Chris
WEEEEEEEEEEEEE...what a bounce! From sub $8.00 in June to $9.02 today!! eom
- $RICK -- touching $9.
Chris
Nice call on the reversal !
Kinda wish I had bought more but that's ok.
Now I gotta think about when to sell, lol.
Chris
YUP....this is back. No more sub $8.00 days here....I was tempted to load more, but it was too risky...now I am torqued that I was chicken......Oh well....still a great stock to hold long term.
I guess I shoulda bought more than 1000 shares, lol.
Chris
Nice rebound for $RICK today.
Chris
this one has been on my radar for a very long time and i think it might be just about time to jump in
Yeah i was able to pick up 1000 @ 7.97. We'll see if it starts climbing back up.
Good for you. At least this is holding $8.15 this week. For a RED Friday this is encouraging.
Probably gonna buy some soon.
wow $RICK is taking quite a beating
Chris
DO NOT HOLD YOUR BREATH...LOL...gas at $3.00 a gallon. I paid 3.81 a gallon on Saturday for regular at an ARCO here in the desert. Brutal economic times we live in. Brutal.
I only have 500 shares of the 2000 I originally bought, so I'll be looking to re-buy ...... eventually. Like when gas goes back to $3.00/gal, lol.
Chris
Agreed, we are in for some choppy air economically it appears. Let the bottom hit then buy.
Now that $8.50 support has failed, it might be best to wait.
Chris
Hey CJP,
This market is offically taking its toll on everything. If I had serious bank, I'd load the boat on RICK as I know it will see $10.00 again this year.
Support at $8.50 ?
Might be a buying opp.
Chris
YOU HIT IT SPOT ON.....I know my truck is a $100 bill to fill up leaving little to spend discretionally...golf is a thing of the past the last few months and I live in Golf Mecca.....so that speaks volumes where my dollars allocate themselves....thank goodness I am single...I feel for the avg family of 4 making ends meet.
wow -- it sure dove today. Not a good sign for our economy.
Looks like I was right about gas vs. nudie bars: http://investorshub.advfn.com/boards/read_msg.aspx?message_id=60671262&txt2find=sold
Chris
RICKS NEWS FOR OMAHA!! ~ Rick's Cabaret International, Inc. Agrees to Purchase Controlling Interest in Adult Nightclub Near Downtown Omaha
Ricks Cabaret International, Inc. (MM) (NASDAQ:RICK)
Intraday Stock Chart
Today : Thursday 2 June 2011
Subsidiaries of Rick's Cabaret International, Inc., (NASDAQ: RICK), the nation's leading group of upscale gentlemen's clubs, has signed an asset purchase agreement that will give it controlling ownership of an adult nightclub just east of downtown Omaha. A subsidiary of Rick's Cabaret also has agreed to purchase the building where the club is located.
(Logo: http://photos.prnewswire.com/prnh/20110418/MM85342LOGO)
Under terms of the agreed transaction Rick's Cabaret will pay $425,000 in cash to the current owners of Sarie's Lounge at 2449 N. 13th Street in Carter Lake. The current owners of Sarie's Lounge will hold a 40 percent interest in a new subsidiary formed to operate the club. Rick's Cabaret will receive a 10 percent royalty on gross revenues for the use of the Rick's Cabaret name by the new subsidiary and Rick's Cabaret will also be entitled to 60 percent of profits while the minority shareholders will earn the remaining 40 percent.
Under terms of a separate purchase agreement Rick's Cabaret subsidiary RCI Holdings, Inc. has agreed to pay $1,275,000 for the building that houses the current Sarie's Lounge. RCI Holdings will lease the property back to the new owners.
Rick's Cabaret has also agreed to loan the enterprise up to $500,000 to be used for remodeling, capital improvements, advertising, promotion, marketing and other operating expenses, if necessary.
"This acquisition extends our footprint in the Midwest, with a terrific location near the heart of Omaha," said Rick's Cabaret president and CEO Eric Langan. "After renovations have been completed we will rebrand the club as a Rick's Cabaret, bringing our traditionally fine, first-class entertainment experience to this vibrant market."
Closing of the transactions is expected before the end of June, subject to conditions consistent with acquisitions of this type, plus closing on the associated real property purchase.
About Rick's Cabaret: Rick's Cabaret International, Inc. (NASDAQ: RICK) comprises 23 upscale adult nightclubs serving primarily businessmen and professionals that offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, Charlotte, Dallas, Houston, Minneapolis and other cities operate under the names "Rick's Cabaret," "XTC," "Club Onyx" and "Tootsie's Cabaret". Sexual contact is not permitted at these locations. Rick's Cabaret also operates a media division, ED Publications, and owns the adult Internet membership Website couplestouch.com as well as 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 or visit www.ricksinvestor.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 cities where it operates, the success or lack thereof in launching and building the company's businesses, 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. Additional factors that could cause the Company's results to differ materially from those described in the forward-looking statements are described in forms filed with the SEC from time to time and available at www.ricksinvestor.com or on the SEC's internet website at www.sec.gov. 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 visit www.ricksinvestor.com.
SOURCE Rick's Cabaret International, Inc.
INDY NEWS OUT!! Rick's Cabaret/Indianapolis Sets Three-Day Grand Opening Party for June 16-18
Ricks Cabaret International, Inc. (MM) (NASDAQ:RICK)
Intraday Stock Chart
Today : Wednesday 25 May 2011
Rick's Cabaret/Indianapolis, the newest upscale gentlemen's club owned by a subsidiary of Rick's Cabaret International, Inc. (NASDAQ: RICK), has scheduled a three-day grand opening party June 16-18th. 'Ronnie The Limo Driver,' on-air personality from The Howard Stern Show, will serve as host for the gala event, which will be covered by Howard TV.
(Logo: http://photos.prnewswire.com/prnh/20110418/MM85342LOGO)
"Our Indianapolis friends are already enjoying the unique brand of Rick's Cabaret hospitality and entertainment, but we've scheduled the grand opening party to show all of Indianapolis just how different we are from other gentlemen's clubs," said Ed Anakar, director of operations for Rick's Cabaret, who has overseen the launch of the new club. "Meanwhile, we will be open over the exciting Memorial Day weekend and will have dozens of beautiful entertainers on hand for fans attending the Indy 500."
In April Rick's Cabaret completed the purchase of the location that formerly operated as The Gold Club. It is located about three miles from the world famous Indianapolis Speedway at 3551 Lafayette Road near Lafayette Square, just off Interstate Highway I-65. The club has a VIP Champagne Room and facilities for bachelor and group parties. For further information call 317.297.O429.
About Rick's Cabaret: Rick's Cabaret International, Inc. (NASDAQ: RICK) comprises 23 upscale adult nightclubs serving primarily businessmen and professionals that offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, Charlotte, Dallas, Houston, Minneapolis and other cities operate under the names "Rick's Cabaret," "XTC," "Club Onyx" and "Tootsie's Cabaret". Sexual contact is not permitted at these locations. Rick's Cabaret also operates a media division, ED Publications, and owns the adult Internet membership Website couplestouch.com as well as 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 or visit www.ricksinvestor.com.
SOURCE Rick's Cabaret International, Inc.
I know ChrisJP, I am sure RICK's Mgt is asking "what recession", LOL. Money in sin tax stuff for sure. I see this as a $12.00 stock EOY. JMHO.
woooo hoooo ! up nicely at the open.
Chris
Rick's NEWS OUT!! WHAT RECESSION?? CHA-CHING ~ Rick's Cabaret International, Inc. Reports $22.8 Million in Revenue for Second Quarter; Adjusted EBITDA Rises to $6.6 Million
Ricks Cabaret International, Inc. (MM) (NASDAQ:RICK)
Intraday Stock Chart
Today : Tuesday 10 May 2011
Rick's Cabaret International, Inc. (NASDAQ: RICK), the nation's leading group of upscale gentlemen's clubs, today reported total revenues for its second quarter ended March 31, 2011 of $22.8 million, compared with $22.4 million for the same period last year. Rick's Cabaret had total net income for the quarter of $2.9 million, the same as in the previous year, with fully diluted earnings per share of 29 cents, compared with 31 cents last year. Adjusted EBITDA (earnings before income tax, depreciation and amortization) for the quarter rose to $6.6 million from $6.4 million in 2010.
(Logo: http://photos.prnewswire.com/prnh/20110418/MM85342LOGO)
The company will hold an investor conference call at 4:30 p.m. EDT today at which President and CEO Eric Langan will discuss the results. The toll-free domestic call in number is 877-407-8033 and a webcast of the call is available at www.ricksinvestor.com or http://www.investorcalendar.com/IC/CEPage.asp?ID=164373. Following the call the company will hold a "Due Diligence Ball" at its New York City Club (50 West 33rd Street) for investors and other interested persons.
"We had a solid quarter and I'm looking forward to discussing it in detail with our investors today," said Mr. Langan. "Despite a big ice storm in Texas that weakened revenues anticipated from this year's Super Bowl compared with 2010, we still did very well for the quarter and we are happy with our overall club results. We are also pleased with the Adjusted EBITDA number, which is a key metric we use to measure our performance.
"We have begun to eliminate losses at our Las Vegas location through the sharp reduction in operations we announced last month as we seek a buyer for the club. We believe that we did everything possible to make the club work, but the Las Vegas market remains troubled and we believe it is now in our shareholders' best interests to exit," Mr. Langan said. "Once our exit from this market it is complete we will have a better idea how we will do for the remainder of the year."
For the six-month period ending March 31st Rick's Cabaret had consolidated total revenues of $43.7 million compared to $42.4 million for the six months ended March 31, 2010. Six month net income attributable to Rick's Cabaret International Inc. was $5.0 million, compared with $3.7 million during the first six months of last year. Adjusted EBITDA for the six months ended March 31st was $11.9 million, compared with $9.5 million last year.
Note: Adjusted EBITDA is a financial statement measure that was not derived in accordance with GAAP. The company uses Adjusted EBITDA (earnings before interest expense, income taxes, depreciation, amortization and impairment charges) as a non-GAAP performance measure. In calculating adjusted EBITDA, the company excludes the largest recurring non-cash charge, depreciation, amortization and impairment charges. Adjusted EBITDA provides a core operational performance measurement that compares results without the need to adjust for Federal, state and local taxes, which have considerable variation between domestic jurisdictions. Also, the company excludes interest cost in the calculation of Adjusted EBITDA. The results are, therefore, without consideration of financing alternatives of capital employed. The company uses Adjusted EBITDA as one guideline to assess unleveraged performance return on investments. Adjusted EBITDA is also the target benchmark for acquisitions of nightclubs.
RICK'S CABARET INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
ASSETS
(in thousands, except per share data)
March 31,
2011
September 30,
2010
Assets
(UNAUDITED)
Current assets:
Cash and cash equivalents
$ 17,344
$ 18,817
Accounts receivable:
Trade, net
859
662
Other, net
284
206
Marketable securities
485
-
Inventories
1,136
1,100
Deferred tax asset
2,037
1,503
Prepaid expenses and other current assets
1,620
871
Assets of nightclub held for sale
3,035
3,160
Total current assets
26,800
26,319
Property and equipment, net
59,632
57,915
Other assets:
Goodwill and indefinite lived intangibles, net
63,226
62,076
Definite lived intangibles, net
916
1,139
Other
1,064
922
Total other assets
65,206
64,137
Total assets
$ 151,638
$ 148,371
LIABILITIES AND STOCKHOLDERS' EQUITY
(in thousands, except per share data)
March 31,
2011
September 30,
2010
Liabilities and Stockholders' Equity
(UNAUDITED)
Current liabilities:
Accounts payable
$ 740
$ 700
Accrued liabilities
4,369
4,414
Texas patron tax liability
5,446
3,955
Current portion of derivative liabilities
1,015
1,276
Current portion of long-term debt
6,223
5,461
Liabilities of nightclub held for sale
2,723
2,582
Total current liabilities
20,516
18,388
Deferred tax liability
16,818
15,566
Other long-term liabilities
752
719
Long-term debt
32,078
34,803
Derivative liabilities at fair value, less current portion
417
1,243
Total liabilities
70,581
70,719
Commitments and contingencies
Temporary equity - Common stock, subject to put rights 102 and 198 shares, respectively
3,676
4,366
PERMANENT STOCKHOLDERS' EQUITY:
Preferred stock, $.10 par, 1,000 shares authorized; none issued and outstanding
-
-
Common stock, $.01 par, 20,000 shares authorized; 9,677 and 9,766 shares issued and outstanding, respectively
97
98
Additional paid-in capital
61,447
62,326
Accumulated other comprehensive loss
(20)
-
Retained earnings
12,512
7,515
Total Rick's permanent stockholders' equity
74,036
69,939
Noncontrolling interests
3,345
3,347
Total permanent stockholders' equity
77,381
73,286
Total liabilities and stockholders' equity
$ 151,638
$ 148,371
RICK'S CABARET INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share data)
FOR THE THREE MONTHS
ENDED MARCH 31,
FOR THE SIX MONTHS
ENDED MARCH 31,
2011
2010
2011
2010
(UNAUDITED)
(UNAUDITED)
Revenues:
Sales of alcoholic beverages
$ 9,205
$ 9,029
$ 17,564
$ 17,078
Sales of food and merchandise
1,982
1,782
3,766
3,372
Service revenues
10,396
10,225
19,807
19,518
Internet revenues
120
144
246
289
Media revenues
192
311
409
567
Other
944
948
1,905
1,620
Total revenues
22,839
22,439
43,697
42,444
Operating expenses:
Cost of goods sold
2,807
2,639
5,325
5,096
Salaries and wages
4,762
4,411
9,438
8,722
Stock compensation
-
44
-
88
Other general and administrative:
Taxes and permits
3,483
3,339
6,553
6,179
Charge card fees
374
370
738
717
Rent
1,076
1,028
2,155
2,051
Legal and professional
523
759
1,009
1,409
Advertising and marketing
1,176
1,507
2,359
4,445
Insurance
310
260
617
524
Utilities
425
415
831
828
Depreciation and amortization
1,125
903
2,207
1,745
Other
1,663
1,632
3,240
3,177
Total operating expenses
17,724
17,307
34,472
34,981
Operating income
5,115
5,132
9,225
7,463
Other income (expense):
Interest income
44
6
56
9
Interest expense
(1,110)
(1,079)
(2,234)
(2,108)
Other
-
(3)
-
(3)
Gain on change in fair value of derivative instruments
333
385
481
429
Income before income taxes
4,382
4,441
7,528
5,790
Income taxes
1,406
1,423
2,423
1,917
Net income
2,976
3,018
5,105
3,873
Less: net income attributable to noncontrolling interests
(53)
(73)
(107)
(146)
Net income attributable to Rick's Cabaret International, Inc.
$ 2,923
$ 2,945
$ 4,998
$ 3,727
Basic earnings per share attributable to Rick's shareholders:
Net income
$ 0.29
$ 0.31
$ 0.50
$ 0.40
Diluted earnings per share attributable to Rick's shareholders:
Net income
$ 0.29
$ 0.31
$ 0.50
$ 0.40
Weighted average number of common shares outstanding:
Basic
9,937
9,361
9,990
9,366
Diluted
10,771
10,238
10,004
9,394
About Rick's Cabaret: Rick's Cabaret International, Inc. (NASDAQ: RICK) is home to 23 upscale adult nightclubs serving primarily businessmen and professionals that offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, Charlotte, Dallas, Houston, Minneapolis and other cities operate under the names "Rick's Cabaret," "XTC," "Club Onyx" and "Tootsie's Cabaret". Sexual contact is not permitted at these locations. Rick's Cabaret also operates a media division, ED Publications, and owns the adult Internet membership Website couplestouch.com as well as 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 or visit www.ricksinvestor.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 cities where it operates, the success or lack thereof in launching and building the company's businesses, 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. Additional factors that could cause the Company's results to differ materially from those described in the forward-looking statements are described in forms filed with the SEC from time to time and available at www.ricksinvestor.com or on the SEC's internet website at www.sec.gov. 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 visit www.ricksinvestor.com.
SOURCE Rick's Cabaret International, Inc.
~NEWS OUT ~ Rick's Cabaret Will Hold Second Quarter Conference Call Tuesday May 10th, Followed by a "Due Diligence Ball" at Its New York City Nightclub!!
Ricks Cabaret International, Inc. (MM) (NASDAQ:RICK)
Intraday Stock Chart
Today : Tuesday 3 May 2011
Rick's Cabaret International, Inc. (NASDAQ: RICK), the nation's premier group of gentlemen's clubs, will release its second quarter 2011 results on Tuesday, May 10th, followed by a conference call/webcast at 4:30 pm (ET) hosted by CEO Eric Langan. After the call the company will hold a "Due Diligence Ball" for investors and financial industry professionals at the company's New York City nightclub.
(Logo: http://photos.prnewswire.com/prnh/20110418/MM85342LOGO)
The conference call will allow securities analysts and shareholders to hear management discuss results for the company's second quarter ended March 31, 2011. A webcast of the call can be accessed at http://www.investorcalendar.com/IC/CEPage.asp?ID=164373R or though the Rick's Cabaret investor website, www.ricksinvestor.com. The toll free participant dial-in number is 877-407-8033 (International 201-689-8033). The toll free replay number is 877-660-6853 (international 201-612-7415). Replay passcodes required for playback are: Account number 286 and Conference ID 371983.
The popular Due Diligence Ball gives investors an opportunity to see the company's operations first hand and talk personally with Mr. Langan and other executives. It is held at the company's New York City nightclub at 50 West 33rd Street between Fifth Avenue and Broadway, across from the Empire State Building. Admission is free to the DDB, which features passed hors d'oeuvres and drinks at discount prices from 6 p.m. to 8 p.m. To RSVP email ir@ricks.com.
About Rick's Cabaret: Rick's Cabaret International, Inc. (NASDAQ: RICK) is home to 23 upscale adult nightclubs serving primarily businessmen and professionals that offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, Charlotte, Dallas, Houston, Minneapolis and other cities operate under the names "Rick's Cabaret," "XTC," "Club Onyx" and "Tootsie's Cabaret". Sexual contact is not permitted at these locations. Rick's Cabaret also operates a media division, ED Publications, and owns the adult Internet membership Website couplestouch.com as well as 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 or visit www.ricksinvestor.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 cities where it operates, the success or lack thereof in launching and building the company's businesses, 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. Additional factors that could cause the Company's results to differ materially from those described in the forward-looking statements are described in forms filed with the SEC from time to time and available at www.ricksinvestor.com or on the SEC's internet website at www.sec.gov. 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 visit www.ricksinvestor.com.
SOURCE Rick's Cabaret International, Inc.
RICK'S NEWS OUT!!~ Rick's Cabaret International, Inc. Completes Purchase of Gentlemen's Club in Indianapolis
Ricks Cabaret International, Inc. (MM) (NASDAQ:RICK)
Intraday Stock Chart
Today : Monday 25 April 2011
Rick's Cabaret International, Inc. (NASDAQ: RICK), the leading group of upscale gentlemen's clubs, has purchased through a subsidiary all assets of The Gold Club, an adult nightclub in the Indiana capital. Total cost of the acquisition, including the real estate, was $1,675,000.
(Logo: http://photos.prnewswire.com/prnh/20110418/MM85342LOGO)
""We are eager to bring the famous Rick's Cabaret style of hospitality and entertainment excellence to Indianapolis, where next year's Super Bowl will be held," said Eric Langan, president of the group. "We plan to add other clubs in the Midwest that will give us clustering efficiencies in marketing, purchasing power and use of management."
The newly acquired club is located about three miles from the world famous Indianapolis Speedway at 3551 Lafayette Road near Lafayette Square, just off Interstate Highway I-65. The club has a VIP Champagne Room and has been a popular venue for bachelor and group parties.
About Rick's Cabaret: Rick's Cabaret International, Inc. (NASDAQ: RICK) is home to 23 upscale adult nightclubs serving primarily businessmen and professionals that offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, Charlotte, Dallas, Houston, Minneapolis and other cities operate under the names "Rick's Cabaret," "XTC," "Club Onyx" and "Tootsie's Cabaret". Sexual contact is not permitted at these locations. Rick's Cabaret also operates a media division, ED Publications, and owns the adult Internet membership Website couplestouch.com as well as 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 or visit www.ricksinvestor.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 cities where it operates, the success or lack thereof in launching and building the company's businesses, 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. Additional factors that could cause the Company's results to differ materially from those described in the forward-looking statements are described in forms filed with the SEC from time to time and available at www.ricksinvestor.com or on the SEC's internet website at www.sec.gov. 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 visit www.ricksinvestor.com.
SOURCE Rick's Cabaret International, Inc.
Rick’s Cabaret Reports Quarterly Sales of $22.5 Million
Ricks Cabaret International, Inc. (MM) (NASDAQ:RICK)
Intraday Stock Chart
Today : Thursday 7 April 2011
Rick’s Cabaret International, Inc. (NASDAQ: RICK), the nation’s leading group of upscale gentlemen’s clubs, generated sales of $22,541,440 at its nightclubs in the quarter ended March 31st.
Companywide sales were 2.57 percent higher than the $21,976,859 generated in the same quarter last year. Revenues at clubs open for more than 12 months, excluding Las Vegas, increased by 8.25 percent from the same period last year. If Las Vegas is included in the calculation, companywide sales decreased by 3.14 percent at clubs open for more than 12 months.
Revenue totals were negatively impacted by continuing weak sales at Rick’s Cabaret in Las Vegas, due to the discontinuance of a costly taxicab marketing program that had generated sales but no profits, and the slow economic recovery in Nevada.
“Except for the declines in Las Vegas, overall sales in January and February were fairly consistent with last year, and we again had a very strong March at several of our key clubs, especially Rick’s Cabarets in New York City and Austin, Tootsie’s Cabaret in Miami, XTC in Dallas, and the Charlotte Club Onyx location,” said Eric Langan, President and CEO of the company.
About Rick’s Cabaret: Rick’s Cabaret International, Inc. (NASDAQ: RICK) is home to 22 upscale adult nightclubs serving primarily businessmen and professionals that offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, New Orleans, Charlotte, Dallas, Houston, Minneapolis and other cities operate under the names "Rick's Cabaret," "XTC," “Club Onyx” and “Tootsie’s Cabaret”. Sexual contact is not permitted at these locations. Rick’s Cabaret also operates a media division, ED Publications, and owns the adult Internet membership Website couplestouch.com as well as 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 or visit www.ricksinvestor.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 cities where it operates, the success or lack thereof in launching and building the company’s businesses, 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. Additional factors that could cause the Company’s results to differ materially from those described in the forward-looking statements are described in forms filed with the SEC from time to time and available at www.ricksinvestor.com or on the SEC's internet website at www.sec.gov. 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 visit www.ricksinvestor.com.
- $RICK having a nice day !
Chris
Rick’s Cabaret International, Inc. Subsidiary Signs Asset Purchase Agreement to Purchase Schiek’s Palace Royale Gentlemen...
...thats nice
;)
I sold a bunch today. The message is clear -- guys need to spend money on gas and that cuts into their nudie bar money. I still have 500 shares for fun.
Rats.
Chris
3/7/11 NEWS!! Rick’s Cabaret International, Inc. Signs Letter of Intent to Acquire Schiek’s Palace Royale Gentlemen’s Club in Minneapolis.
Ricks Cabaret International, Inc. (MM) (NASDAQ:RICK)
Intraday Stock Chart
Today : Monday 7 March 2011
Rick’s Cabaret International, Inc. (NASDAQ: RICK), the nation’s leading group of upscale gentlemen’s clubs, said today it has signed a letter of intent, subject to execution of definitive documents, to acquire the Minneapolis gentlemen’s club currently operating as Schiek’s Palace Royale for $3,050,000. In addition a subsidiary of Rick’s Cabaret will pay $3,250,000 to acquire the real estate where Schiek’s Palace Royale is located.
When completed the acquisition from VCG Holding Corp. (NASDAQ: VCGH) would bring to 23 the number of clubs in the Rick’s Cabaret group nationwide and will be the company’s second club in Minneapolis. Schiek’s Palace Royale is located at 115 South 4th Street, around the corner from the existing Rick’s Cabaret in the heart of downtown Minneapolis.
The letter of intent calls for signing of definitive documents on March 15, 2011, with a closing five business days after all licenses for an adult cabaret to serve liquor and conduct topless entertainment have been satisfactorily issued to Rick’s Cabaret.
Said Eric Langan, president and CEO of Rick’s Cabaret: “This acquisition gives us a terrific package of gentlemen’s clubs in the Minneapolis area. It is consistent with our program of ‘clustering’ clubs to increase management, marketing and purchasing efficiencies. It is within our target for immediate accretion to our earnings, and the venue fits our profile of upscale facilities offering a premier entertainment experience.”
About Rick’s Cabaret: Rick’s Cabaret International, Inc. (NASDAQ: RICK) is home to 22 upscale adult nightclubs serving primarily businessmen and professionals that offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, New Orleans, Charlotte, Dallas, Houston, Minneapolis and other cities operate under the names "Rick's Cabaret," "XTC," “Club Onyx” and “Tootsie’s Cabaret”. Sexual contact is not permitted at these locations. Rick’s Cabaret also operates a media division, ED Publications, and owns the adult Internet membership Website couplestouch.com as well as 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 or visit ricksinvestor.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 cities where it operates, the success or lack thereof in launching and building the company’s businesses, 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. Additional factors that could cause the Company’s results to differ materially from those described in the forward-looking statements are described in forms filed with the SEC from time to time and available at ricksinvestor.com or on the SEC's internet website at www.sec.gov. 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 visit ricksinvestor.com.
MELO IN THE HOUSE!! Rick’s Cabaret Will Welcome Newest Knicks Superstar Carmelo Anthony with “Melo Mash” Parties before & after the Game on..Ricks Cabaret International, Inc. (MM) (NASDAQ:RICK)
Intraday Stock Chart
Today : Friday 25 February 2011
Rick’s Cabaret NYC, the #1 gentlemen’s club in Manhattan, will roll out the red carpet on Wednesday March 2nd to welcome newly minted New York Knicks basketball superstar Carmelo Anthony to the Big Apple.
“The pre-game “Melo Mash’ party will get rolling at 6pm until tip-off at 7:30pm, with no cover and $8 drinks. The after-game festivities start at 9 p.m. and things will really heat up as soon as the game ends,” said Ken Sistrunk, general manager of the club that Playboy says is the best in the city. “We’re not sure if Melo will drop by, but we’ve let him know that he’s more than welcome. Many Knicks players have been our guests over the years and we want Melo to know he should feel at home since we’re literally right down the street from Madison Square Garden.” The club is located at 50 West 33rd Street, just east of Broadway.
Sistrunk says some of the Rick’s Cabaret entertainers will start their dance sets wearing specially tailored #7 jerseys, “but they won’t keep them on for long.”
Rick’s Cabaret NYC is part of the publicly traded Rick’s Cabaret International, Inc., (NASDAQ: RICK) group of upscale gentlemen’s clubs. Opened in 2005, the club features three floors of topless entertainment and hospitality, including a first class steak house, private suites, and a VIP floor with a sky box overlooking the main dance floors.
About Rick’s Cabaret: Rick’s Cabaret International, Inc. (NASDAQ: RICK) is home to 22 upscale adult nightclubs serving primarily businessmen and professionals that offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, New Orleans, Charlotte, Dallas, Houston, Minneapolis and other cities operate under the names "Rick's Cabaret," "XTC," “Club Onyx” and “Tootsie’s Cabaret”. Sexual contact is not permitted at these locations. Rick’s Cabaret also operates a media division, ED Publications, and owns the adult Internet membership Website couplestouch.com as well as 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
- $RICK mentioned favorably here:
http://www.fool.com/investing/general/2011/02/23/5-stocks-approaching-greatness.aspx
Chris
I guess $100 oil means fewer nudie bar visits
Chris
Load these dips CJP.......good plan!!
wow -- I may have to buy some more !
OOOOPPPPSS!! I mean $11.00!!!!
WEEEEEEEEEEEEEEEEEE!!!! Never saw it coming....$10.50!!
Gooooooo $RICK !!!
Chris
Very odd market reaction to the earnings report.
Chris
BIG TIME NEWS!!!--Rick’s Cabaret International, Inc. Reports 165 Percent Rise in First Quarter Income on Higher Revenues & Reduced Expenses; ...
Ricks Cabaret International, Inc. (MM) (NASDAQ:RICK)
Intraday Stock Chart
Today : Thursday 10 February 2011
Rick’s Cabaret International, Inc. (NASDAQ: RICK), the nation’s leading group of upscale gentlemen’s clubs, today reported net income of $2.1 million for the period ending December 31, 2010, compared with $783,000 in the same period last year, a 165 percent increase. Net income per fully diluted share for the quarter was 21 cents, compared with 8 cents in the previous year. The company had revenues of $20.9 million in its first quarter, compared with $20 million for the same period last year.
The improvement in net income was due primarily to a combination of the higher revenues and lower operating expenses, which dropped to $16.7 million compared with $17.6 million for the same quarter last year.
The increase in total revenue was attributed primarily to the addition of $1.4 million in sales from two new clubs in Fort Worth and one in Austin.
“We had a very good quarter and we are happy with our start for the 2011 fiscal year,” said Eric Langan, President and CEO of Rick’s Cabaret, which now includes 22 clubs nationwide. “Our major clubs in New York City and Miami continue to thrive. We opened a new club just outside the Dallas/Fort Worth Airport in January, and we had a total of seven clubs in the DFW Metroplex to serve Super Bowl fans. We expect to remain on track to make at least one acquisition per quarter for the balance of this year.”
Other highlights of the first quarter:
There was a significant decrease in advertising and marketing expenses, principally through the reduction of marketing costs in Las Vegas during 2010 and reduced radio advertising in the Dallas/Fort Worth market.
Rick’s Cabaret in Las Vegas lost approximately $370,000 for the quarter ending December 31, 2010, on revenues of $1.1 million, compared with a loss for the quarter in the previous year of $500,000 on revenues of $3.1 million.
The company’s Media Division lost approximately $76,000 before income taxes for the quarter, compared with approximately $65,000 in the 2009 quarter, but as the economy improves the company believes the division will become profitable through more cost control and increased revenues.
During the three months ended December 31, 2010, the company purchased 90,800 shares of common stock in the open market at prices ranging from $7.03 to $7.43 which compares with the purchase of 48,200 shares in the previous years at prices ranging from $3.54 to $5.95.
The company had cash on hand at the end of the quarter of $18.7 million compared with $9.5 million in the previous year, having generated $2.8 million from operating activities vs. $3.2 million last year. At the end of the quarter the company had working capital of $5.1 million compared to $377,552 last year, a result of increased profit and also the net cash still available from the convertible debt, which is principally long-term in nature.
RICK'S CABARET INTERNATIONAL, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
ASSETS
(in thousands, except per share data)
December 31,
2010
September 30, 2010
Assets (UNAUDITED)
Current assets:
Cash and cash equivalents $ 18,719 $ 19,168
Accounts receivable:
Trade, net 830 888
Other, net 278 204
Marketable securities 479 -
Inventories 1,481 1,264
Deferred tax asset 1,753 1,504
Prepaid expenses and other current assets 716 951
Assets of discontinued operations 133 148
Total current assets 24,389 24,127
Property and equipment, net 59,262 59,559
Other assets:
Goodwill and indefinite lived intangibles, net 62,076 62,076
Definite lived intangibles, net 1,080 1,197
Other 1,520 1,412
Total other assets 64,676 64,685
Total assets $ 148,327 $ 148,371
LIABILITIES AND STOCKHOLDERS’ EQUITY
(in thousands, except per share data)
December 31,
2010
September 30, 2010
Liabilities and Stockholders' Equity (UNAUDITED)
Current liabilities:
Accounts payable $
629
$
731
Accrued liabilities 4,106 4,529
Texas patron tax liability 4,650 3,955
Current portion of derivative liabilities 1,236 1,276
Current portion of long-term debt 8,663 7,883
Liabilities of discontinued operations 53 47
Total current liabilities 19,337 18,421
Deferred tax liability 15,456 15,566
Other long-term liabilities 736 719
Long-term debt 33,446 34,803
Derivative liabilities at fair value, less current portion 816 1,243
Total liabilities 69,791 70,752
Commitments and contingencies
Temporary equity - Common stock, subject to put rights 198 and
317 shares, respectively
4,020 4,366
PERMANENT STOCKHOLDERS' EQUITY:
Preferred stock, $.10 par, 1,000 shares authorized; none issued
and outstanding
- -
Common stock, $.01 par, 20,000 shares authorized; 9,676 and 9,766
shares issued and outstanding, respectively
97 98
Additional paid-in capital 61,542 62,326
Accumulated other comprehensive loss (26 ) -
Retained earnings 9,590 7,515
Total Rick’s permanent stockholders’ equity 71,203 69,939
Noncontrolling interests 3,313 3,314
Total permanent stockholders’ equity 74,516 73,253
Total liabilities and stockholders’ equity $ 148,327 $
148,371
RICK'S CABARET INTERNATIONAL, INC.
CONSOLIDATED STATEMENTS OF INCOME
Three Months Ended December 31,
(in thousands, except per share data)
2010 2009
(UNAUDITED)
Revenues:
Sales of alcoholic beverages $ 8,359 $ 8,050
Sales of food and merchandise 1,784 1,590
Service revenues 9,412 9,292
Internet revenues 125 145
Media revenues 216 257
Other 962 671
Total revenues 20,858 20,005
Operating expenses:
Cost of goods sold 2,518 2,456
Salaries and wages 4,676 4,310
Stock-based compensation - 44
Other general and administrative:
Taxes and permits 3,063 2,836
Charge card fees 364 346
Rent 1,079 993
Legal and professional 485 650
Advertising and marketing 1,183 2,938
Depreciation and amortization 1,072 842
Insurance 303 262
Utilities 406 406
Other 1,579 1,536
Total operating expenses 16,728 17,619
Income from operations 4,130 2,386
Other income (expense):
Interest income 12 4
Interest expense (1,124 ) (1,029 )
Gain on change in fair value of derivative instruments 148 44
Income from continuing operations before income taxes 3,166 1,405
Income taxes 1,026 514
Income from continuing operations 2,140 891
Loss from discontinued operations, net of income taxes (11 ) (35 )
Net income 2,129 856
Less: net income attributable to noncontrolling interests (53 ) (73 )
Net income attributable to Rick’s Cabaret International, Inc. $ 2,076 $ 783
Basic earnings (loss) per share attributable to Rick’s shareholders:
Income from continuing operations $ 0.21 $ 0.09
Loss from discontinued operations (0.00 ) (0.00 )
Net income $ 0.21 $ 0.08
Diluted earnings (loss) per share attributable to Rick’s shareholders:
Income from continuing operations $ 0.21 $ 0.09
Loss from discontinued operations (0.00 ) (0.00 )
Net income $ 0.21 $ 0.08
Weighted average number of common shares outstanding:
Basic 10,043 9,370
Diluted 10,045 9,385
About Rick’s Cabaret: Rick’s Cabaret International, Inc. (NASDAQ: RICK) is home to 22 upscale adult nightclubs serving primarily businessmen and professionals that offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, New Orleans, Charlotte, Dallas, Houston, Minneapolis and other cities operate under the names "Rick's Cabaret," "XTC," “Club Onyx” and “Tootsie’s Cabaret”. Sexual contact is not permitted at these locations. Rick’s Cabaret also operates a media division, ED Publications, and owns the adult Internet membership Website couplestouch.com as well as 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 or visit ricksinvestor.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 cities where it operates, the success or lack thereof in launching and building the company’s businesses, 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. Additional factors that could cause the Company’s results to differ materially from those described in the forward-looking statements are described in forms filed with the SEC from time to time and available at ricksinvestor.com or on the SEC's internet website at sec.gov. 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 visit ricksinvestor.com.
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10959 Cutten Road
Houston, TX 77066
United States - Map
Phone: 281-397-6730
Fax: 281-820-1445
Web Site: http://www.rickscabaret.com
DETAILS
Index Membership: N/A
Sector: Services
Industry: Restaurants
Full Time Employees: 1,100
BUSINESS SUMMARY
Rick's Cabaret International, Inc. operates upscale gentlemen's clubs, nightclubs, bars and restaurants in the U.S. and has a licensing program in Latin America.
Founded in 1983, Rick's Cabaret pioneered in the creation of elegant gentlemen's clubs featuring beautiful topless dancers and high quality restaurant service. Rick's Cabaret went public in 1995 and is listed on The NASDAQ Global Market under the symbol RICK. The Company has built powerful brand name awareness for its upscale environment and enjoyable adult entertainment. Many performers from Rick's have become Penthouse Pets and Playboy Playmates. Anna Nicole Smith, met her oil billionaire husband while dancing at Rick's Cabaret in Houston.
CEO Eric Langan joined Rick's Cabaret in 1998 and has led the Company since 1999. He has steadily expanded operations, growing revenues and profit. Mr. Langan has positioned the Company at the top of the gentlemen's club sector by creating a pleasurable ambiance and a relaxed, conscientious approach to customer service patterned after the "concierge model" made famous by top Las Vegas casinos. The Company has been featured in profiles in The Wall Street Journal, MarketWatch, Corporate Board Member, Smart Money, Forbes, USA Today, The New York Daily News and other publications. Time Out New York magazine included the Rick's Cabaret-NYC Steakhouse in its TONY 100 list of fine Manhattan dining establishments and it is also included in the Zagat's New York Nightlife publication.
Mr. Langan believes the gentleman's club business is in a consolidation phase much like that of the casino industry in the 1990s. His vision is that Rick's Cabaret will become the most important player in the adult club industry with top venues in all major markets, and he is directing a strategy of buying profitable, high-end clubs in major markets that are accretive to earnings. Examples of this program are the $25 million purchase of Tootsie's Cabaret in Miami, for which the Company projects FY 2008 revenues of $23 million and EBITDA of $11.5 million; and a definitive agreement to buy Scores-Las Vegas in a transaction that it believes will add 29 cents per share to annual earnings.
The principal business lines of Rick’Äôs Cabaret are:
Nightclub Entertainment:
The principal brands are Rick's Cabaret (high-end clubs in New York City, Philadelphia,
Minneapolis, Houston, San Antonio, Ft. Worth, Austin);
Club Onyx (upscale nightclubs in Houston and Charlotte catering to African-American gentlemen.
XTC Cabaret (non-alcohol clubs in several Texas cities.
Tootsie's Cabaret (popular Miami adult nightclub.
Licensed clubs are scheduled open in Buenos Aries in 2008.
The Company also owns an upscale club in Dallas that will open in May 2008 and has signed letters of intent for to buy other clubs.
It licenses Rick's Cabaret in New Orleans.
CORRECTING and REPLACING Rick’s Cabaret International, Inc. Reports July Nightclub Sales of $6.73 Million
The release dated August 12, 2010 has been replaced to correct figures in the original version.
The corrected release reads:
RICK’S CABARET INTERNATIONAL, INC. REPORTS JULY NIGHTCLUB SALES OF $6.73 MILLION
Rick’s Cabaret International, Inc. (NASDAQ: RICK), the nation’s leading chain of upscale gentlemen’s clubs, had revenues of $6.73 million at its nightclubs in July, a 3.78 percent increase over July in 2009. The company is issuing a corrected version of its July sales report today after it was discovered that some same store sales numbers were inadvertently transposed in the original press release. The corrected figures show a decline in same club revenues of 7.95 percent, rather than the flat figure as originally reported.
Same club-same month revenues were $5.92 million compared with $6.43 million in 2009.
Eric Langan, President and CEO of Rick’s Cabaret, noted: “Sales were soft in the first three weeks of July but recovered in most clubs in the final 10 days of the month. We continue to see weakness in the Las Vegas market but are encouraged by reports of an uptick in reservations for major conventions scheduled for late August and September. Our new clubs in Fort Worth and Austin are beginning to contribute as anticipated.”
About Rick’s Cabaret: Rick’s Cabaret International, Inc. (NASDAQ: RICK) is home to upscale adult nightclubs serving primarily businessmen and professionals that offer live entertainment, dining and bar operations. Nightclubs in New York City, Miami, Philadelphia, New Orleans, Charlotte, Dallas, Houston, Minneapolis and other cities operate under the names "Rick's Cabaret," "XTC," “Club Onyx” and “Tootsie’s Cabaret”. Sexual contact is not permitted at these locations. Rick’s Cabaret also operates a media division, ED Publications, and owns the adult Internet membership Website couplestouch.com as well as 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 cities where it operates, the success or lack thereof in launching and building the company’s businesses, 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 visit ricks.com.
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