RCI Hospitality Holdings, Inc. Reports Consolidated Sales Results for the First Fiscal Quarter Ended December 31, 2017; Provides Earning Guidance of the Fiscal Year 2018
January 09, 2018 at 10:00 am EST
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RCI Hospitality Holdings, Inc. reported consolidated sales results for the first fiscal quarter ended December 31, 2017. Same-store sales was $35.2 million compared to $33.0 million.
The company expect initial fiscal year 2018 free cash flow target of $21 million (based on estimated net cash provided by operating activities of approximately $23.5 million less maintenance capex of approximately $2.5 million). It is not yet fully analyzed how the new federal tax cut, which reduces statutory tax rate to 21% from 35%, could further add to free cash flow.
RCI Hospitality Holdings, Inc. is a holding company, which operates through its subsidiaries. The Company is engaged in various activities in the hospitality and related businesses. The Companyâs all services and management operations are conducted by its subsidiaries, including RCI Management Services, Inc. It operates a total of 70 establishments, which offers live adult entertainment, including two that are under renovation/remodeling, and/or restaurant and bar operations, including one food hall. It also operates a business communications company serving the multi-billion-dollar adult nightclubs industry. The Company has three segments: Nightclubs, Bombshells and Other. Its Nightclubs portfolio includes a variety of brands and formats that target different customer demographics. Its nightclubs are located around the country in New York City, Chicago, Dallas-Fort Worth and others. Bombshells Restaurant & Bar is a military-themed casual dining chain with a focus on sports and fun.
RCI Hospitality Holdings, Inc. Reports Consolidated Sales Results for the First Fiscal Quarter Ended December 31, 2017; Provides Earning Guidance of the Fiscal Year 2018
RCI HOSPITALITY HOLDINGS, INC. 
