Rick’s Cabaret International, Inc. (NASDAQ: RICK), the leading chain of upscale gentlemen’s clubs, today issued guidance to investors on its anticipated performance in fiscal 2010.
The company believes it will earn in the range of $ .95 to $1.05 per share during the fiscal year on revenues that will range between $84 million and $86 million.
‘While things could change we believe we have a good feel for how our clubs will perform through the end of September,’ said Eric Langan, President and CEO. He added that the guidance assumes continued organic growth, revenues generated during the Pro Bowl and Super Bowl being held in Miami and the NBA All Star Game to be held in Dallas, and no unforeseen events, but does not assume any additional acquisitions.
The company resumed its acquisition program in the last quarter of 2009 with the purchase of two additional nightclubs and of property for another club near the Dallas Fort Worth Airport that is expected to be open in the second half of 2010.