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Rick's Cabaret International Inc. (RICK) filed Annual Report for the period ended 2011-09-30.
Rick's Cabaret International Inc. has a market cap of $77.6 million; its shares were traded at around $8.19 with a P/E ratio of 10.1 and P/S ratio of 1. Rick's Cabaret International Inc. had an annual average earning growth of 19% over the past 10 years. GuruFocus rated Rick's Cabaret International Inc. the business predictability rank of 2.5-star.
This is the annual revenues and earnings per share of RICK over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of RICK.
Highlight of Business Operations:
For the fiscal year ended September 30, 2011, we had consolidated total revenues of $83.5 million, compared to consolidated total revenues of $74.1 million for the year ended September 30, 2010. This was an increase of $9.4 million or 12.7%. The increase in total revenues was primarily due to revenues generated in our new clubs acquired in 2011 ($1.6 million in 2011), a full year of revenues from clubs purchased in 2010 (increase of $4.5 million) and increases in revenues from certain of our existing clubs, especially from our New York location. Revenues from nightclub operations for same-location same-period increased by 4.9%.For the fiscal year ended September 30, 2010, we had consolidated total revenues of $74.1 million, compared to consolidated total revenues of $65.4 million for the year ended September 30, 2009. This was an increase of $8.6 million or 13.2%. The increase in total revenues was primarily due to revenues generated in our new clubs and increases in revenues from certain of our existing clubs, especially from our New York location. Revenues from nightclub operations for same-location same-period increased by 10.2% and for Internet businesses decreased by 12.3%.
During fiscal 2008, we acquired a media division for a total cost of $1.1 million. This acquisition was funded primarily through issuance of our restricted common stock valued at $369,754, and $700,000 in cash. This media operation had total revenues of approximately $1.2 million, $1.4 million and $1.4 million for fiscal years 2011, 2010 and 2009, respectively and net losses of approximately $67,000, $156,000 and $242,000.
During fiscal 2008, we acquired five existing nightclub operations and 49% of an existing nightclub operation for a total cost of $69.8 million, including real property of $14.8 million. These acquisitions were funded primarily through indebtedness of $21 million, including real property debt of $8 million, issuance of our restricted common stock valued at $13 million, $701,711 in debt forgiveness, and $35.4 million in cash. These nightclub operations (exclusive of the Las Vegas club closed in 2011 and the Austin club in which we sold 60% in 2011) had total revenues of approximately $34.9 million, $41.6 million and $40.7 million for fiscal years 2011, 2010 and 2009, respectively, and pretax income of approximately $11.0 million, $9.4 million and $9.2 million.
During fiscal 2010, we acquired three existing nightclub operations for a total cost of approximately $9.2 million, including real property of approximately $4.6 million. These acquisitions were funded primarily with cash of approximately $5.9 million, real property debt of approximately $2.5 million, and a seller s common stock which we owned, valued at approximately $795,000. These nightclub operations had total revenues of approximately $7.3 million and $4.5 million and net income before taxes of approximately $609,000 and $432,000 for fiscal years 2011 and 2010, respectively.
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