Rick’s Cabaret International, the publicly-traded chain of strip clubs, reported revenues of $24,487,215 for the year ending September 30, 2006, a 65 percent increase over the previous year’s total of $14,824,407. The company had net income from operations of $1,752,714 for its fiscal year ending September 30, 2006, compared with a loss of $215,148 in the prior year.
“The excellent performance of Rick’s Cabaret-New York City gave us a strong revenue boost for the fiscal year and this club continues to grow steadily each month,” said Eric Langan, president and CEO of Rick’s Cabaret. “Our growth program is on track and we are looking forward to another strong year in 2007 from our existing clubs and the four acquisitions we have made recently. We will also continue to look at additional acquisitions that fit our business model and can be quickly accretive.”
Langan will host a conference call to discuss the results at 4:30 p.m. ET Dec. 28. Callers in the United States can participate by calling toll free, 877-407-8031. International callers should dial 201-689-8031. The conference call will be available at www.ricks.com and through Vcall at http://www.vcall.com/IC/CEPage.asp?ID=112421. Teleconference replay is available until 11:59 p.m. on January 3, 2007 in the U.S. toll free at 877-660-6853 and from international points at 201-612-7415. The replay passcodes (both required for playback) are account number 286 and Conference ID number 225251.
Rick’s Cabaret International 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. The company also owns the adult Internet membership Web site, www.couplestouch.com, and a network of online adult auction sites under the flagship URL www.naughtybids.com. Rick’s Cabaret common stock is traded on NASDAQ under the symbol RICK. For further information contact firstname.lastname@example.org.