Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Neither it is 1.72
Here something for you to see.
http://drmicrocap.blogspot.com/2016/08/newell-brands-incnwl-eps-estimate-77.html
Whisper Number
The "Street" has NWL coming in at .77 for the 3rd Quarter ended September 2016 that should be reported on or about October 28, 2016.
All comments welcome.
The "Good Dr's In!"
http://www.whispernumber.com/whisper_profile.jsp?ticker=nwl
Whisper Number
The "Street" has NWL coming in at .77 for the 3rd Quarter ended September 2016 that should be reported on or about October 28, 2016.
All comments welcome.
The "Good Dr's In!"
http://www.whispernumber.com/whisper_profile.jsp?ticker=nwl
Whisper Number
The "Street" has NWL coming in at .77 for the 3rd Quarter ended September 2016 that should be reported on or about October 28, 2016.
All comments welcome.
The "Good Dr's In!"
http://www.whispernumber.com/whisper_profile.jsp?ticker=nwl
NWL beats Revenue and EPS Estimates.
https://finance.yahoo.com/news/newell-rubbermaid-tops-street-2q-104240573.html
NWL beats Revenue and EPS Estimates
https://finance.yahoo.com/news/newell-rubbermaid-tops-street-2q-104240573.html
The "Street" has NWL coming in at .75 for the 2nd Quarter ended June 2016 that should be reported on or about July 29, 2016.
All comments welcome.
The "Good Dr's In!"
AZZ Inc. Reports Financial Results for the First Quarter of Fiscal Year 2017
First Quarter Fiscal 2017 EPS of $0.81, up 5.2% compared to $0.77 in Fiscal 2016
First Quarter Revenues of $242.7 million, up $13.8 million or 6.0% over First Quarter Fiscal 2016
First Quarter Bookings of $250.5 million, up 16.4% compared to First Quarter Fiscal 2016, resulting in record backlog of $354.2 million
Announces Quarterly Cash Dividend of $0.15 per Share
PR Newswire AZZ Inc.
July 5, 2016 6:30 AM
????
FORT WORTH, Texas, July 5, 2016 /PRNewswire/ -- AZZ Inc. (AZZ), a global provider of galvanizing services, welding solutions, specialty electrical equipment and highly engineered services, today announced financial results for the three month period ended May 31, 2016.
Management Discussion
Tom Ferguson, president and chief executive officer of AZZ Inc., commented, "The financial results for the first quarter were solid reflecting the operational performance of our two business segments. We are particularly pleased with the 13.8% revenue growth and the 10% increase in operating income in our galvanizing business, the 1.03 book-to-ship ratio of our overall business, and the 11% increase in the backlog at the end of the first quarter as compared to the first quarter last year. We are also pleased with the 104% increase in the operating cash flow versus last year's comparable quarter. Given the mixed market dynamics that we currently face, our sales teams are doing a great job."
"In the Energy Segment," continued Mr. Ferguson, "our acquisition of PEI, at the start of the just completed quarter, is doing very well, and we expect it to be accretive to earnings during the fiscal year. We continue to see domestic opportunities for growth during the fiscal year, despite the fact that lower oil prices are having a moderate impact on both our Energy and Galvanizing businesses. Looking ahead, we believe that our industry leading products and services uniquely positions AZZ to benefit from a number of international opportunities in the coming quarters. We remain focused on leveraging our sales teams; expanding our markets internationally; driving operational excellence and maintaining an active M&A program, while seeking to better focus our platforms around their core products and markets."
Mr. Ferguson, concluded, "We expect fiscal 2017 to be a solid year and we are reaffirming our guidance for fiscal 2017 EPS in the range of $3.15 to $3.45 per diluted share and revenues in the range of $930 million to $970 million. As we discussed in our previous earnings call, we expect our results to be weighted towards the second half of the year."
First Quarter Results
Revenues for the first quarter of fiscal 2017 were $242.7 million compared to $228.9 million for the same quarter last year, an increase of 6.0%. Net income for the first quarter increased 5.7% to $21.1 million, or $0.81 per diluted share, compared to net income of $19.9 million, or $0.77 per diluted share, for the first quarter of fiscal 2016.
Earnings for the first quarter of fiscal 2017 were positively impacted by an improved gross margin of 26.1% compared to 25.9% in the first quarter of fiscal 2016. SG&A as a percentage of sales rose to 11.9% compared to 11.5% in the first quarter of fiscal 2017. Additionally, the effective tax rate slightly decreased to 31.6% in the current quarter compared to 31.7% in the first quarter of the prior year.
Incoming orders for the quarter were $250.5 million while shipments for the quarter totaled $242.7 million, resulting in a book to ship ratio of 1.03. In the first quarter of fiscal 2016, incoming orders were $215.2 million, resulting in a book to ship ratio of 0.94. Our backlog at the end of the first quarter of fiscal 2017 increased 11% to a record $354.2 million compared to backlog at the end of the prior year first quarter of $318.9 million. Approximately 25% of the backlog is expected to be delivered outside the U.S.
Energy Segment
Revenues for the Energy Segment for the first quarter of fiscal 2017 were $138.1 million as compared to $137.0 million for the same quarter last year, increasing 0.8%. Operating income for the segment increased 4.4% to $18.8 million compared to $18.0 million in the same period last year. Operating margins for the first quarter rose to 13.6% as compared to 13.1% in the prior year period. Revenues and operating income were moderately affected as a result of a wildfire-related demobilization from a large project in Canada during the first quarter at our WSI business.
Galvanizing Segment
Revenues for the Galvanizing Segment for the first quarter were $104.6 million, compared to the $91.9 million in the same period last year, an increase of 13.8%. Operating income for the segment increased 10.0% to $24.3 million compared to $22.1 million in the prior year first quarter. Operating margins for the first quarter were 23.2%, compared to 24.0% in the same period last year. Increases in revenues, operating incomes, and the reduction in operating margin all were primarily driven by the effects of the acquisition of U.S. Galvanizing at the beginning of the second quarter in the last fiscal year.
Announces Dividend
AZZ also announced today that its Board of Directors has authorized a quarterly cash dividend in the amount of $0.15 per share on the company's outstanding shares of common stock. The dividend is payable on August 1, 2016, to shareholders of record as of the close of business on July 18, 2016.
Conference Call
AZZ Inc. will conduct a conference call to discuss financial results for the first quarter of fiscal year 2017 at 11:00 A.M. ET on Tuesday, July 5, 2016. Interested parties may access the conference call by dialing (844) 855-9499 or (412) 317-5497 (international). The call will be webcast via the Internet at http://www.azz.com/investor-relations. A replay of the call will be available for three days following the call at (877) 344-7529 or (412) 317-0088 (international), confirmation #10088153, or for 30 days at http://www.azz.com/investor-relations.
About AZZ Inc.
AZZ Inc. is a global provider of galvanizing services, welding solutions, specialty electrical equipment and highly engineered services to the markets of power generation, transmission, distribution and industrial in protecting metal and electrical systems used to build and enhance the world's infrastructure. AZZ Galvanizing is a leading provider of metal finishing solutions for corrosion protection, including hot dip galvanizing to the North American steel fabrication industry. AZZ Energy is dedicated to delivering safe and reliable transmission of power from generation sources to end customers, and automated weld overlay solutions for corrosion and erosion mitigation to critical infrastructure in the energy markets worldwide.
Safe Harbor Statement
Certain statements herein about our expectations of future events or results constitute forward-looking statements for purposes of the safe harbor provisions of The Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by terminology such as, "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology. Such forward-looking statements are based on currently available competitive, financial and economic data and management's views and assumptions regarding future events. Such forward-looking statements are inherently uncertain, and investors must recognize that actual results may differ from those expressed or implied in the forward-looking statements. This release may contain forward-looking statements that involve risks and uncertainties including, but not limited to, changes in customer demand and response to products and services offered by AZZ, including demand by the power generation markets, electrical transmission and distribution markets, the industrial markets, and the hot dip galvanizing markets; prices and raw material cost, including zinc and natural gas which are used in the hot dip galvanizing process; changes in the political stability and economic conditions of the various markets that AZZ serves, foreign and domestic, customer requested delays of shipments, acquisition opportunities, currency exchange rates, adequacy of financing, and availability of experienced management and employees to implement AZZ's growth strategy. AZZ has provided additional information regarding risks associated with the business in AZZ's Annual Report on Form 10-K for the fiscal year ended February 29, 2016 and other filings with the SEC, available for viewing on AZZ's website at www.azz.com and on the SEC's website at www.sec.gov. You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. These statements are based on information as of the date hereof and AZZ assumes no obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact:
Paul Fehlman, Senior Vice President - Finance and CFO
AZZ Inc. 817-810-0095
Internet: www.azz.com
Lytham Partners 602-889-9700
Joe Dorame or Robert Blum
Internet: www.lythampartners.com
AZZ Inc.
Condensed Consolidated Statement of Income
(in thousands, except per share data)
Three Months Ended
May 31, 2016
May 31, 2015
(unaudited)
(unaudited)
Net sales
$
242,667
$
228,888
Costs of Sales
179,340
169,584
Gross Margin
63,327
59,304
Selling, General and Administrative
28,819
26,419
Operating Income
34,508
32,885
Interest Expense
3,925
3,847
Net Gain on Sales or Insurance Settlement of Property, Plant and Equipment
(110)
(424)
Other (Income), net
(122)
307
Income before income taxes
30,815
29,155
Income Tax Expense
9,752
9,231
Net income
$
21,063
$
19,924
Net income per share
Basic
$
0.81
$
0.77
Diluted
$
0.81
$
0.77
Diluted average shares outstanding
26,043
25,862
Segment Reporting
(in thousands)
Three Months Ended
May 31, 2016
May 31, 2015
(unaudited)
(unaudited)
Net Sales:
Energy
138,102
$
137,003
Galvanizing
104,565
91,885
242,667
$
228,888
Segment Operating Income :
Energy
18,753
$
17,956
Galvanizing
24,302
22,094
Corporate
(8,547)
(7,165)
Total Segment Operating Income
34,508
$
32,885
Condensed Consolidated Balance Sheet
(in thousands)
May 31, 2016
February 29, 2016
(unaudited)
Assets:
Current Assets
$
316,633
$
309,334
Net Property, Plant and Equipment
230,165
226,333
Other Assets, Net
463,810
446,343
Total Assets
$
1,010,608
$
982,010
Liabilities and Shareholders' Equity:
Current Liabilities
$
154,586
$
148,405
Long Term Debt Due After One Year
300,932
302,429
Other Liabilities
52,200
49,960
Shareholders' Equity
502,890
481,216
Total Liabilities and Shareholders' Equity
$
1,010,608
$
982,010
Condensed Consolidated Statements of Cash Flows
(in thousands)
Three Months Ended
May 31, 2016
May 31, 2015
(unaudited)
(unaudited)
Net cash provided by operating activities
$
9,637
$
4,722
Net cash used in investing activities
(33,055)
(6,208)
Net cash provided by (used in) financing activities
(4,817)
25,237
Effect of exchange rate changes on cash
119
(514)
Net increase (decrease) in cash and cash equivalents
$
(28,116)
$
23,237
Cash and cash equivalents at beginning of period
40,191
22,527
Cash and cash equivalents at end of period
$
12,075
$
45,764
RCI Continues Rebound with 2Q16 EPS at $0.54 GAAP & $0.40 Non-GAAP
PR Newswire RCI Hospitality Holdings, Inc.
May 10, 2016 4:05 PM
????
HOUSTON, May 10, 2016 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (RICK) today announced its performance continued to rebound in the fiscal 2016 second quarter ended March 31, 2016.
View photo
.RCI Hospitality Holdings Corporate Logo (PRNewsFoto/RCI Hospitality Holdings, Inc.)
2Q16 Highlights
GAAP EPS diluted was $0.54, which included a $1.75 million tax credit. Excluding non-recurring items, non-GAAP* EPS diluted was $0.40.
In the year ago quarter, GAAP EPS was a loss of ($0.28), which included a $10.3 million pre-tax expense for a legal settlement. Non-GAAP EPS diluted was $0.44. 2Q15 was a record quarter for sales and non-GAAP earnings.
2Q16 results reflect a continued recovery in performance following a falloff after 2Q15.
2Q16 free cash flow (FCF) totaled $6.4 million, the second largest quarter on record, and $10.3 million for the first half of FY16.
As a result, RCI has revised its FY16 FCF target upward to $16-$19 million from $15-18 million.
Cash Dividend & Share Buy Backs
RCI accelerated its share buyback program in FY16, taking advantage of its strong FCF to return capital to shareholders.
Through April 30, 2016, the company purchased 566,921 common shares to date in FY16 at a cost of $5.4 million, reducing shares outstanding to 9.889 million from 10.348 million a year ago.
RCI yesterday announced a $5.0 million increase in its authorization to repurchase common shares, resulting in a total of $6.2 million available to buy back stock.
RCI also announced yesterday the company's 3Q16 $0.03 dividend will be paid June 27, 2016 to shareholders of record June 10, 2016.
Conference Call
A conference call to discuss these results, outlook and related matters will be held today at 4:30 PM ET
Dial In: 877-407-9210 (toll free) or 201-689-8049 (domestic or international)
Webcast URL: http://www.investorcalendar.com/event/174973
Meet Management Tonight
Eric Langan, President & CEO, invites investors to meet management and tour one of the company's top clubs.
When: Tonight, May 10, 2016, 6:00 PM to 8:00 PM ET
Where: Rick's Cabaret New York, at 50 W. 33rd Street, between Fifth Avenue and Broadway
RSVP: With your contact information to gary.fishman@anreder.com
CEO Comment
"We are pleased 2Q16 revenues, margins, profits and free cash flow performed better than our original expectations," Mr. Langan said.
"This is especially encouraging as we were up against our largest sales quarter ever in the year ago period. Moreover, two clubs were closed in 2Q16 undergoing reformatting and remodeling.
"Our FY16 plan is to continue to grow margins, EPS and FCF on what we expect to be flattish revenues on an annual basis, while adhering to our capital allocation policy.
"Costs as a percentage of revenues are going down. Operating margin has improved two quarters in a row.
"Sales are moving in the right direction. Same store sales were nearly level with the year-ago quarter. 3Q16 should benefit from reopening of the two reformatted clubs, and we anticipate opening the first sports-themed club in Manhattan in 4Q16.
"As a result of our first six months' performance, we have increased our FY16 free cash flow target to $16-$19 million.
"The company remains committed to our capital allocation policy of using FCF to enhance shareholder value through share repurchases and dividends. As part of this policy, we will continue to evaluate the risk adjusted returns on capital expenditures or acquisitions relative to the after tax yield on free cash flow we can obtain by repurchasing our own shares.
"While opportunities may arise to acquire or open new units or pay down debt ahead of schedule, we generally believe the best allocation of our capital is the risk-adjusted, after-tax, FCF yield of buying our own shares as long as our stock stays at this low valuation relative to RCI's cash flow generation."
2Q16 Analysis
Total Revenues
Total revenues of $34.4 million increased $0.9 million or 2.8% from 1Q16, reflecting improvements in almost all major categories.
High-margin service revenues increased $0.6 million or 4.5% from 1Q16 as club customers began to spend more per visit and new marketing strategies started to prove effective. Food sales increased $0.3 million or 6.3% from 1Q16 due to Bombshells' growing business.
Same store sales of $32.9 million declined only 0.9% year over year, representing a significant increase from our performance in 1Q16 and 4Q15.
Operating Income & Margin
Income from operations was $7.6 million, or 22.0% of revenues, up from 17.1% in 1Q16.
Excluding non-recurring items, non-GAAP operating income was $7.9 million, or 23.1% of revenues, up from 19.7% in 1Q16.
The improvement in operating income as compared to 1Q16 reflects the increase in sales, in particular service revenues, as well as reduced costs as a percentage of revenues.
2Q16 Segment Analysis
Nightclubs
Sales of $29.1 million compared to $29.9 in the year ago quarter, with 36 units in operation compared to 40.
Operating income was $9.7 million, or 33.5% of revenues, compared to a loss of ($0.8) million, or (2.7%), in 2Q15.
Non-GAAP operating income was $9.8 million, or 33.7% of revenues, compared to $9.5 million, or 31.7%, in 2Q15.
Bombshells
Sales of $4.6 million compared to $4.4 million in the year ago quarter, with five units in operation in both periods.
Operating income was $0.64 million compared to $0.46 million in 2Q15.
Operating margin was 13.9% compared to 10.3% in 2Q15.
2Q16 Other Metrics
Occupancy Costs: Occupancy costs, which the company measures as a combination of rent plus interest expense, declined to 8.2% of revenues compared to 8.5% in 2Q15. The decline reflects significantly lower rent due to the acquisitions of club real estate in New York City in early 2Q16 and of Miami Gardens in 4Q15.
Effective Tax Rate: $1.75 million was deducted from income tax expense, due to the benefit of certain FICA credits not previously claimed. Excluding this deduction, RCI would have paid an effective tax rate of 36.6%.
Adjusted EBITDA & Free Cash Flow: RCI's cash generating power, as reflected by adjusted EBITDA, amounted to $9.7 million compared to $8.2 million in 1Q16. As a result, RCI generated FCF of $6.4 million compared to $3.9 million in 1Q16.
Balance Sheet (March 31, 2016 compared to December 31, 2015): Total stockholders' equity increased to $131.9 million from $128.2 million due to the increase in retained earnings partially offset by share buy backs.
*Non-GAAP Financial Measures
In addition to our financial information presented in accordance with GAAP, management uses certain "non-GAAP financial measures" within the meaning of the SEC Regulation G, to clarify and enhance understanding of past performance and prospects for the future. Generally, a non-GAAP financial measure is a numerical measure of a company's operating performance, financial position or cash flows that excludes or includes amounts that are included in or excluded from the most directly comparable measure calculated and presented in accordance with GAAP. We monitor non-GAAP financial measures because it describes the operating performance of the company and helps management and investors gauge our ability to generate cash flow, excluding some non-recurring charges that are included in the most directly comparable measures calculated and presented in accordance with GAAP. Relative to each of the non-GAAP financial measures, we further set forth our rationale as follows:
Non-GAAP Operating Income and Non-GAAP Operating Margin. We exclude from non-GAAP operating income and non-GAAP operating margin amortization of intangibles, gain on settlement of patron tax case, pre-opening costs, gains and losses from asset sales, gain on settlement of patron tax issue, impairment of assets, pre-opening costs, stock-based compensation charges, litigation and other one-time legal settlements and acquisition costs. We believe that excluding these items assists investors in evaluating period-over-period changes in our operating income and operating margin without the impact of items that are not a result of our day-to-day business and operations. While we were in litigation in the patron tax case, we also included patron taxes as an exclusion, but after settlement of the case, we no longer exclude patron taxes from operating income.
Non-GAAP Net Income and Non-GAAP Net Income per Basic Share and per Diluted Share. We exclude from non-GAAP net income and non-GAAP net income per diluted share and per basic share amortization of intangibles, gain on settlement of patron tax case, pre-opening costs, income tax expense, impairment charges, gains and losses from asset sales, stock-based compensation, litigation and other one-time legal settlements, gain on contractual debt reduction and acquisition costs, and include the Non-GAAP provision for income taxes, calculated as the tax-effect at 35% effective tax rate of the pre-tax non-GAAP income before taxes less stock-based compensation, because we believe that excluding such measures helps management and investors better understand our operating activities. While we were in litigation in the patron tax case, we also included patron taxes as an exclusion, but after settlement of the case, we no longer exclude patron taxes from net income.
Adjusted EBITDA. We exclude from Adjusted EBITDA depreciation expense, amortization of intangibles, income tax, interest expense, interest income, gains and losses from asset sales, pre-opening costs, acquisition costs, litigation and other one-time legal settlements, gain on settlement of patron tax case, gain on contractual debt reduction and impairment charges because we believe that adjusting for such items helps management and investors better understand operating activities. 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, we exclude interest cost in our calculation of Adjusted EBITDA. The results are, therefore, without consideration of financing alternatives of capital employed. We use Adjusted EBITDA as one guideline to assess our unleveraged performance return on our investments. Adjusted EBITDA is also the target benchmark for our acquisitions of nightclubs.
Other Notes
Starting with 1Q16, total revenues (including prior comparable periods) are being reported net of sales taxes and other revenue related taxes, RCI having chosen to early adopt new revenue accounting standards.
Free cash flow is defined as cash flows from operating activities less maintenance capex.
Unit counts are at period end.
About RCI Hospitality Holdings, Inc. (RICK)
With 43 units, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country's leading company in gentlemen clubs and sports bars/restaurants. Clubs in New York City, Miami, Philadelphia, Charlotte, Dallas/Ft. Worth, Houston, Minneapolis, Indianapolis and other cities operate under brand names, such as "Rick's Cabaret," "XTC," "Club Onyx," "Vivid Cabaret," "Jaguars" and "Tootsie's Cabaret." Sports bars/restaurants operate under the brand name "Bombshells." Please visit http://www.rcihospitality.com/
Forward-Looking Statements
This press release may contain 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 press release, 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 cybersecurity, 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. The company has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances.
RCI HOSPITALITY HOLDINGS, INC.
CONSOLIDATED STATEMENTS OF INCOME
FOR THE THREE MONTHS
FOR THE SIX MONTHS
ENDED MARCH 31,
ENDED MARCH 31,
(in thousands, except per share data)
2016
2015
2016
2015
(UNAUDITED)
(UNAUDITED)
Revenues:
Sales of alcoholic beverages
$
14,581
$
14,311
$
29,178
$
28,316
Sales of food and merchandise
4,609
4,837
8,943
9,670
Service revenues
13,205
13,847
25,846
27,376
Other
2,001
1,994
3,904
3,832
Total revenues
34,396
34,989
67,871
69,194
Operating expenses:
Cost of goods sold
5,227
5,381
10,411
10,492
Salaries and wages
7,917
8,115
16,052
16,147
Stock compensation
120
120
240
240
Other general and administrative:
Taxes and permits
3,274
3,288
6,501
6,399
Charge card fees
557
544
1,170
1,091
Rent
859
1,184
1,807
2,325
Legal and professional
982
1,064
2,087
2,023
Advertising and marketing
1,225
1,312
2,530
2,679
Insurance
907
801
1,781
1,621
Utilities
694
708
1,404
1,442
Depreciation and amortization
1,826
1,886
3,643
3,531
(Gain) loss on sale of property and marketable securities
(127)
(18)
(127)
(18)
Impairment of assets
-
-
-
1,358
Settlement of lawsuits and other one-time costs
62
10,303
602
10,550
Other
3,323
2,917
6,503
5,790
Total operating expenses
26,846
37,605
54,604
65,670
Operating income (loss)
7,550
(2,616)
13,267
3,524
Other income (expense):
Interest income
1
26
3
39
Interest expense
(1,965)
(1,783)
(3,878)
(3,402)
Gain from acquisition of controlling interest in subsidiary
-
-
-
577
Income (loss) before income taxes
5,586
(4,373)
9,392
738
Income taxes (benefit)
293
(1,265)
1,660
581
Net income (loss)
5,293
(3,108)
7,732
157
Less: net loss attributable to noncontrolling interests
212
267
325
362
Net income (loss) attributable to RCI Hospitality Holdings, Inc.
$
5,505
$
(2,841)
$
8,057
$
519
Basic earnings (loss) per share attributable to RCIHH shareholders:
Net income
$
0.55
$
(0.28)
$
0.79
$
0.05
Diluted earnings (loss) per share attributable to RCIHH shareholders:
Net income
$
0.54
$
(0.28)
$
0.78
$
0.05
Weighted average number of common shares outstanding:
Basic
10,013
10,275
10,154
10,269
Diluted
10,215
10,275
10,356
10,273
Dividends per share
$
0.03
$
-
$
0.03
$
-
RCI HOSPITALITY HOLDINGS, INC.
NON-GAAP FINANCIAL MEASURES
FOR THE THREE MONTHS
FOR THE SIX MONTHS
FOR THE THREE MONTHS
ENDED MARCH 31,
ENDED MARCH 31,
ENDED DECEMBER 31,
($ in thousands, except per share data)
2016
2015
2016
2015
2015
Reconciliation of GAAP net income to Adjusted EBITDA
GAAP net income (loss)
$5,505
($2,841)
$8,057
$519
$2,552
Income tax expense
293
(1,265)
1,660
581
1,367
Interest expense and income and gain on Drink Robust investment
1,964
1,757
3,875
2,786
1,911
Litigation and other one-time legal settlements
62
10,303
602
10,550
540
Pre-opening costs
-
268
-
328
-
Acquisition costs
-
95
-
178
-
Impairment of assets
-
-
-
1,358
-
Depreciation and amortization
1,826
1,886
3,643
3,531
1,817
Adjusted EBITDA
$9,650
$10,203
$17,837
$19,831
$8,187
Reconciliation of GAAP net income (loss) to non-GAAP net income
GAAP net income (loss)
$5,505
($2,841)
$8,057
$519
$2,552
Amortization of intangibles
197
336
399
579
202
Gain on Drink Robust investment
-
-
-
(577)
-
Stock-based compensation
120
120
240
240
120
Litigation and other one-time settlements
62
10,303
602
10,550
540
Pre-opening costs
-
268
-
328
-
Income tax expense
293
(1,265)
1,660
581
1,367
Acquisition costs
-
95
-
178
-
Impairment of assets
-
-
-
1,358
-
Non-GAAP provision for income taxes
(2,120)
(2,414)
(3,751)
(4,731)
(1,673)
Non-GAAP net income
$4,057
$4,602
$7,207
$9,025
$3,108
Reconciliation of GAAP diluted net income per share to non-GAAP diluted net income per share
Fully diluted shares
10,215
10,275
10,356
10,273
10,635
GAAP net income (loss)
$0.54
($0.28)
$0.78
$0.05
$0.25
Amortization of intangibles
0.02
0.03
0.04
0.06
0.02
Gain on Drink Robust investment
-
-
-
(0.06)
-
Stock-based compensation
0.01
0.01
0.02
0.02
0.01
Litigation and other one-time settlements
0.01
1.00
0.06
1.03
0.05
Pre-opening costs
-
0.03
-
0.03
-
Income tax expense
0.03
(0.12)
0.16
0.06
0.13
Acquisition costs
-
0.01
-
0.02
-
Impairment of assets
-
-
-
0.13
-
Non-GAAP provision for income taxes
(0.21)
(0.23)
(0.36)
(0.46)
(0.16)
Non-GAAP diluted net income per share
$0.40
$0.44
$0.70
$0.88
$0.30
Reconciliation of GAAP operating income to non-GAAP operating income
GAAP operating income (loss)
$7,550
($2,616)
$13,267
$3,524
$5,717
Amortization of intangibles
197
336
399
579
202
Stock-based compensation
120
120
240
240
120
Impairment of assets
-
-
-
1,358
-
Litigation and other one-time settlements
62
10,303
602
10,550
540
Pre-opening costs
-
268
-
328
-
Acquisition costs
-
95
-
178
-
Non-GAAP operating income
$7,929
$8,506
$14,508
$16,757
$6,579
Reconciliation of GAAP operating margin to non-GAAP operating margin
GAAP operating income
22.0%
-7.5%
19.5%
5.1%
17.1%
Amortization of intangibles
0.6%
1.0%
0.6%
0.8%
0.6%
Stock-based compensation
0.3%
0.3%
0.4%
0.3%
0.4%
Impairment of assets
0.0%
0.0%
0.0%
2.0%
0.0%
Litigation and other one-time settlements
0.2%
29.4%
0.9%
15.2%
1.6%
Pre-opening costs
0.0%
0.8%
0.0%
0.5%
0.0%
Acquisition costs
0.0%
0.3%
0.0%
0.3%
0.0%
Non-GAAP operating margin
23.1%
24.3%
21.4%
24.2%
19.7%
RCI HOSPITALITY HOLDINGS, INC.
SEGMENT INFORMATION
FOR THE THREE MONTHS
FOR THE SIX MONTHS
ENDED MARCH 31,
ENDED MARCH 31,
(in thousands)
2016
2015
2016
2015
Business segment sales:
Nightclubs
$
29,062
$
29,916
$
57,514
$
59,030
Bombshells
4,629
4,448
9,008
8,982
Other
705
625
1,349
1,182
$
34,396
$
34,989
$
67,871
$
69,194
Business segment operating income (loss):
Nightclubs
$
9,734
$
(818)
$
18,195
$
6,836
Bombshells
643
457
1,245
882
Other
(799)
(724)
(1,504)
(1,189)
General corporate
(2,028)
(1,531)
(4,669)
(3,005)
$
7,550
$
(2,616)
$
13,267
$
3,524
Reconciliation of Nightclubs GAAP operating income to non-GAAP operating income
Nightclubs operating income
$
9,734
$
(818)
$
18,195
$
6,836
Impairment of assets
-
-
-
1,358
Settlement of lawsuits and other one-time costs
62
10,303
602
10,550
Nightclubs non-GAAP operating income
$
9,796
$
9,485
$
18,797
$
18,744
Nightclubs non-GAAP operating margin
33.7%
31.7%
32.7%
31.8%
The "Street" has AZZ coming in at .88 for the quarter that should be reported on or about June 29, 2016!
All post's welcome!
The "Good Dr's In"!
The "Street" has AZZ coming in at .88 for the quarter that should be reported on or about June 29, 2016!
All post's welcome!
The "Good Dr's In"!
The "Street" has AZZ coming in at .88 for the quarter that should be reported on or about June 29, 2016!
All post's welcome!
The "Good Dr's In"!