Business
RCI Reports Strong Increase in 2Q21 EPS and Free Cash Flow
HOUSTON, May 10, 2021 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today reported results for the fiscal 2021 second quarter ended March 31,
About this update from Rci Hospitality Holdings, Inc.
[{"type":"text","content":"HOUSTON, May 10, 2021 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today reported results for the fiscal 2021 second quarter ended March 31, 2021 and filed its Form 10-Q. \n\n \n \n \n \n \n \n\n \nHighlights (all comparisons in this news release are 2Q21 vs. 2Q20 unless otherwise noted)\nGAAP EPS of $0.68 compared to ($0.37) Non-GAAP* EPS of $0.75 compared to $0.47 GAAP results included a $1.4 million impairment and $431,000 net non-operating gain (both pre-tax) Net cash from operating activities of $11.0 million and free cash flow* of $9.0 million $20.2 million cash and cash equivalents on March 31, 2021 Total revenues of $44.1 million (+9.0%) Nightclubs segment revenues of $30.8 million with 34.0% operating margin (38.8% non-GAAP) Bombshells segment revenues of $13.1 million with 23.9% operating margin (24.3% non-GAAP)Eric Langan, President & CEO, said: \"2Q21 reflected a continued rebound in financial performance through the COVID-19 pandemic. Nightclubs had their best overall performance since the pandemic began. Bombshells served up another strong quarter. This enabled us to keep our teams employed and generate higher levels of free cash flow and profitability. Once again, we thank our loyal customers, dedicated team members, and steadfast investors.\n\"We hope these trends continue as the COVID-19 situation continues to improve. As of today, 36 clubs and 10 Bombshells are open. Nightclubs and Bombshells sales exceeded $18 million in April. Restrictive curfews, which have affected many of our northern clubs, are beginning to end. Minnesota, where we have three clubs, lifted its 11 PM curfew on Friday. New York, where we have three clubs, plans to eliminate its midnight curfew May 31. We hope the curfew in Chicago, where we have one club, will be lifted soon.\"\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/2209/41190 Phone replay: Toll Free 877-481-4010, International 919-882-2331, Passcode: 41190Nightclubs Segment\nRevenue was $30.8 million (-1.8%) with same-store sales +3.6%. Cost of goods sold was 12.3% of segment revenue compared to 11.3% due to a lower proportion of service revenues, while other expenses in aggregate declined. Segment profitab...