Rick's Cabaret International, Inc. Reports 15.2% Rise in Third Quarter Nightclub Sales, to $20.5 Million

Rick's Cabaret International, Inc. RICK, had total revenues in its group of 23 nightclubs of $20.5 million in the third quarter ending June 30, 2011, an increase of 15.2 percent over revenues of $17.8 million in the same quarter in 2010. The figures do not include results from Rick's Cabaret in Las Vegas, which was discontinued during the quarter. Same store sales at clubs operated for more than one year rose 9.0 percent for the quarter, to $19.2 million from $17.6 million in the same period in 2010. "The NBA championship series was positive for our clubs in Miami and the Dallas-Fort Worth market during this quarter," said Eric Langan, President and CEO of Rick's Cabaret. "The Rick's Cabaret locations in Minneapolis and San Antonio did very well, and our newly acquired club in Indianapolis is beginning to make contributions to our revenues." He noted that operations at the Las Vegas location were sharply curtailed in April and the club was essentially closed during May and June.