Rick's Cabaret Q2 Club & Restaurant Sales Climb 15.1% - Quick Facts

(RTTNews) - Rick's Cabaret International, Inc. (RICK) Tuesday said total sales at adult clubs and sports bar/restaurants for the second fiscal quarter ended March 31 climbed 15.1 percent to a record $32.6 million.

There were 43 units in the quarter compared to 36 in the year-ago quarter. Sales were positively impacted by the performance of adult clubs acquired and sports bar/restaurants launched within the past year, as well as sales growth at most existing adult clubs.

Same store sales slid 1.1 percent to $27.0 million. The company's major brands showed year over year improvement despite severe winter weather, particularly in Texas, except the four Club Onyx units. Excluding these units, same store sales would have been up 3.8 percent.

The quarter also benefited from the late January opening of a new adult club in midtown Manhattan - Vivid Cabaret New York - and a new Bombshells sports bar/restaurant in Webster, TX. This year's pro-football championship provided an added boost to two New York City clubs.

The figures do not include the company's internet or media divisions.

Eric Langan, President and CEO, said, ''Based on our second quarter club and restaurant sales, we remain on course to reach our fiscal 2014 revenue target of $130 million and our previous EPS guidance as well. Instead of falling off from the seasonally large second quarter, club and restaurant sales should benefit from full quarters of Vivid New York...''