RCI Hospitality Holdings (RICK) Reports Q4 EPS of $0.28; Comps Rose 6.7%
Get Alerts RICK Hot Sheet
Revenue Growth %: +0.3%
Financial Fact:
Sales of food and merchandise: 4.61M
Today's EPS Names:
WF, CWBC, GLTO, More
Join SI Premium – FREE
RCI Hospitality Holdings (NASDAQ: RICK) reported Q4 EPS of $0.28, versus $0.28 reported last year. Revenue for the quarter came in at $33.5 million, versus $28 million reported last year.
Same store sales increased 6.7%. Nearly all major brands increased sales, including Club Onyx, which has been in a turnaround.
CEO Comment
"We continue to make solid progress generally in line with our expectations," Mr. Langan commented.
"New clubs, especially Vivid Cabaret New York, and our new Bombshells sports bar/restaurant chain, are performing very well, as are most clubs and restaurants open more than a year. Morale is excellent and favorable business climates where we have a presence are contributing to overall performance.
"We took initial steps to implement our updated new capital allocation strategy to expand operating margin, generate more cash, and return capital to shareholders. We decided to sell Vivid Cabaret Los Angeles and close Jaguars Houston because of underperformance. We also decided to close XTC Fort Worth, a low performing club, because of an eminent domain issue.
"We negotiated a new insurance contract with a major carrier that should significantly lower our coverage costs in FY15. We also repurchased stock in the open market, reflecting our confidence in the company's opportunities and, given our confident outlook, in the market's mispricing of our shares.
"Looking ahead, we continue to evaluate club acquisition opportunities on a highly selective basis and to establish a REIT to further strengthen RCI's financial profile. Through a subsidiary, we purchased exclusive distribution rights to Robust Energy® brand drinks in North America focused on the on premises bar and restaurant market. Initial results have been highly satisfactory, based on its price point and margin potential for our and other clubs and bars.
"To sum up, we have embarked upon the new fiscal year with a favorable outlook, which we anticipate will result in continued revenue and profit growth and cash generation."
For earnings history and earnings-related data on RCI Hospitality Holdings (RICK) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Alphabet stock surges 11% to record high on Q1 earnings beat, first-ever dividend
- Customers Bancorp (CUBI) Tops Q1 EPS by 3c
- SPS Commerce (SPSC) Tops Q1 EPS by 12c
Create E-mail Alert Related Categories
Earnings, Management Comments, Retail SalesRelated Entities
Earnings, Definitive AgreementSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!