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Rick's Cabaret International Inc. (RICK) filed Quarterly Report for the period ended 2011-12-31.
Rick's Cabaret International Inc. has a market cap of $100.5 million; its shares were traded at around $10.34 with a P/E ratio of 11.4 and P/S ratio of 1.2. Rick's Cabaret International Inc. had an annual average earning growth of 28.1% over the past 10 years.
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:
The Company recognizes Internet revenue from monthly subscriptions to its online entertainment sites when notification of a new or existing subscription and its related fee are received from the third party hosting company or from the credit card company, usually two to three days after the transaction has occurred. The monthly fee is not refundable. The Company recognizes Internet auction revenue when payment is received from the credit card as revenues are not deemed estimable nor collection deemed probable prior to that point.The Company recognizes sales and liquor taxes paid as revenues and an equal expense in accordance with FASB ASC 605, How Taxes Collected from Customers and Remitted to Governmental Authorities Should Be Presented in the Income Statement. Total sales and liquor taxes aggregated $1.6 million and 1.4 million for the three months ended December 31, 2011 and 2010, respectively.
For the three months ended December 31, 2011, we had consolidated total revenues of $22.0 million compared to consolidated total revenues of $19.7 million for the three months ended December 31, 2010, an increase of $2.4 million or 12.0%. The increase in total revenues was primarily attributable to the increase in revenues generated by the Rick’s Cabarets in Austin, San Antonio and Minneapolis, Cabaret East in Fort Worth and XTC Cabaret in Dallas and the Club Onyx locations in Philadelphia, Charlotte and Houston, in the aggregate amount of approximately $680,000, along with new club sales of approximately $1.1 million.
Our Media Division lost approximately $89,000 before income taxes for the quarter ended December 31, 2011 compared to a loss of approximately $76,000 in the 2010 quarter. As the economy improves, we believe the Media Division will become profitable as we control costs and increase marketing revenues.
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