RCI Reports 1Q20 Results and Files 10-Q

About this update from Rci Hospitality Holdings, Inc.

[{"type":"text","content":"HOUSTON, Feb. 27, 2020 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today reported results for the Fiscal 2020 first quarter ended December 31, 2019 and the filing of its 10-Q.\n\n \n \n\n \n1Q20 vs. 1Q19\n• Diluted EPS of $0.60 compared to $0.65 (1Q19 benefitted from $1.1 million in pre-tax gains on the sale of non-income producing assets) \n• Diluted non-GAAP* EPS of $0.62 compared to $0.61 \n• Weighted average shares outstanding fell 391K or 4.0% due to repurchases \n• Cash rebounded to $13.2 million at December 31, 2019 after $6.4 million in 1Q20 share buybacks \n• Free cash flow (FCF) totaled $9.3 million (based on net cash provided by operating activities of $10.3 million, less maintenance capital expenditures of $1.0 million) \n• Total revenues of $48.4 million compared to $44.0 million on 47 and 46 units, respectively \n• Bombshells quarterly revenues hit a record $10.4M as segment margin rebounded to +15%\n \nConference Call 4:30 PM ET Today\n• Call to discuss 1Q20 results, outlook and related matters \n• Live Participant Phone Number: Toll Free 877-407-9210, International 201-689-8049\n• To access the live webcast, slides or replay, visit: https://www.webcaster4.com/Webcast/Page/2209/33364 \n• Phone Replay: Toll Free 877-481-4010, International 919-882-2331, Passcode: 33364\nCEO Comment\n\"Bombshells revenue, margin and profit continued to grow noticeably in 1Q20 from new and older locations, despite pre-opening costs for two new units,\" said Eric Langan, President & CEO. \"Performance should continue to expand with Bombshells Katy, which opened mid-1Q20; Bombshells 59 in southwest Houston, which opened mid-2Q20; and the remodeling and expansion of our first Bombshells, which opened seven years ago in Dallas.\n\"Nightclubs maintained their strong contribution as two new locations – Rick's Cabarets in Chicago and Pittsburgh – made up for two clubs closed part of the quarter for repairs, and one less selling week during the high-volume Thanksgiving and Christmas period. Performance has already begun to pick up appreciably. Scarlett's Cabaret St. Louis and Rick's Cabaret Odessa have reopened. We have a great sports calendar in 2Q20 in markets where we have larger clubs, and we continue to look forward to closing on our Northeast Corridor acquisition.\n\"Salaries and wages and SG&A were higher than what w...

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