Business
RCI Reports Positive Operating Cash Flow and EPS for 1Q21
HOUSTON, Feb. 9, 2021 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today reported results for the fiscal 2021 first quarter ended December
About this update from Rci Hospitality Holdings, Inc.
[{"type":"text","content":"HOUSTON, Feb. 9, 2021 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today reported results for the fiscal 2021 first quarter ended December 31, 2020 and filed its Form 10-Q. Results are not comparable to year-ago periods due to the COVID-19 pandemic, which has caused state and local governments to restrict the opening, occupancy, and operating hours of locations in different ways, at different times.\n\n \n \n \n \n \n \n\n \n1Q21 Highlights\nGAAP EPS of $1.07 and non-GAAP EPS of $0.39 GAAP results included $4.9 million pre-tax gain from debt extinguishment and a $384,000 tax benefit Weighted average shares outstanding declined 3.3% year-over-year $17.0 million cash and cash equivalents at December 31, 2020 Net cash from operating activities of $6.3 million and free cash flow* of $5.7 million Total revenues of $38.4 million, up 33% from 4Q20 and equal to 79% of 1Q20 revenues Nightclubs segment revenues of $25.2 million with 33.7% operating margin Bombshells segment revenues of $13.0 million with 20.9% operating marginEric Langan, President & CEO, said: \"1Q21 saw the best overall company and Nightclubs performance since the pandemic began in our March 2020 quarter, as well as continued strong Bombshells results. This enabled us to keep our teams employed, generate free cash flow, build cash, and achieve operating and net profitability on a GAAP and non-GAAP basis. Once again, we thank our loyal customers, dedicated team members, and steadfast investors.\n\"Looking ahead, we're encouraged more clubs have been allowed to reopen and hope this trend continues as the COVID-19 vaccines are rolled out. As of today, 31 clubs and all 10 Bombshells are open. We're also evaluating potential club acquisitions. To expand Bombshells, we recently acquired a great site in the Dallas area and are conducting due diligence on three more. In addition, we are closely collaborating with our initial franchisee on their first location and continue to speak with potential new franchisees. As part of the effort to refinance our real estate debt at better terms, we are awaiting results of appraisals.\"\nConference Call Today at 4:30 PM ET\nLive Participant Phone Number: Toll Free 877-407-9210, International 201-689-8049 Access the live webcast, slides or replay here: https://www.webcaster4.com/Webcast/Page/2209/39831 Phone replay: Toll Fre...