UPDATE 1-Rick's Cabaret Q2 profit beats Street, shares rise

Tue May 12, 2009 10:33pm BST
 
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* Q2 EPS cont ops $0.16 vs est $0.11

* Q2 sales up 21.6 pct to $18.4 mln

* Shares up 11 pct in after-hours trade

May 12 (Reuters) - Rick's Cabaret International Inc (RICK.O) posted a quarterly profit that topped analysts' estimates, helped by turnarounds at clubs in Philadelphia, Las Vegas and Dallas.

Shares of the Houston-based adult nightclub operator rose 11 percent in trading after the bell.

For the second quarter ended March 31, the company earned $839,471, or 9 cents a share, compared with $2.6 million, or 32 cents a share, a year ago.

Two analysts on average were expecting the company to earn 11 cents a share, according to Reuters Estimates.

Total revenue rose 21.6 percent to $18.36 million.

Shares of the company rose to $8.20 in after-hours trade. They closed at $7.40 Tuesday on Nasdaq.

For related alerts, double click [ID:nWNAB8428] (Reporting by Renju Jose in Bangalore; Editing by Ratul Ray Chaudhuri)

 

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