Twitter Spaces Conference Call at 4:30 PM ET Today; Meet Management at 7 PM ET Tonight
HOUSTON, Feb. 9, 2023 /PRNewswire/ -- RCI Hospitality Holdings, Inc. (Nasdaq: RICK) today reported results and filed its Form 10-Q for the fiscal 2023 first quarter ended December 31, 2022.
Summary Financials | 1Q23 | Change YoY |
Total Revenues | $70.0M | +13.2 % |
EPS | $1.11 | -0.9 % |
Non-GAAP EPS* | $1.19 | +8.2 % |
Net Cash from Operating Activities | $14.9M | -8.4 % |
Free Cash Flow* | $13.0M | -14.6 % |
Net Income Attributable to RCIHH Common Stockholders | $10.2M | -3.2 % |
Adjusted EBITDA* | $20.5M | +13.9 % |
Weighted Average Number of Basic & Diluted Shares Outstanding | 9.2M | -1.9 % |
* See "Non-GAAP Financial Measures" below.
Eric Langan, President and CEO of RCI Hospitality Holdings, Inc., said: "1Q23 results were generally in line with our expectations as we launched our big, three-year growth plan for fiscal 23-25. Thanks to our loyal and dedicated teams for all their hard work and effort."
"During 1Q23, a 21.4% year-over-year increase in Nightclubs operating income more than offset challenging comparisons in Bombshells. GAAP EPS and net cash from operating activities, and non-GAAP EPS and free cash flow, were affected by higher than anticipated repairs and maintenance capital expenditures that happened to occur during the quarter. Nonetheless, adjusted EBITDA increased 13.9% year-over-year, and we ended 1Q23 with $34.1 million in cash."
"To continue with our mission of growing free cash flow and adjusted EBITDA in the years ahead, we now have numerous acquisitions and projects in development. These include our pending acquisition of the five Baby Dolls and Chicas Locas adult nightclubs in Dallas, Fort Worth and Houston; our exciting new Rick's Cabaret Steakhouse & Casino in Central City, CO; and new Bombshells in Alabama, Colorado, and Texas."
Conference Call at 4:30 PM ET Today
Participants need to use Twitter Spaces on their mobile phones to ask questions during the Q&A
Twitter Spaces | Telephone | Webcast, Slides & Replay |
| - Toll Free 888-506-0062
- International: 973-528-0011
- Passcode: 677580
| |
Meet Management at 7:00 PM ET Tonight
- Investors are invited to Meet Management at one of RCI's top revenue generating clubs
- Rick's Cabaret New York, 50 W 33rd St, New York, NY 10001
- RSVP your contact information to gary.fishman@anreder.com by 5:00 PM ET today
1Q23 Segments
- Nightclubs: Revenues of $56.3 million and operating income of $22.7 million. 1Q23 revenues included $15.3 million from the 15 clubs acquired in FY22 and one of two clubs acquired in 1Q23, and a 23.4% year-over-year increase in higher-margin service revenues. Same-store sales also increased.1 Operating margin was 40.4% versus 40.1% in 1Q22 due to increased operating leverage from higher sales, partially offset by increased amortization of club licenses.
- Bombshells: Revenues of $13.4 million and operating income of $1.8 million. Revenues included $1.3 million in sales from the Arlington, TX, location (opened December 2021). Same-store sales declined.1 Operating margin was 13.8% versus 19.0% primarily due to reduced operating leverage compared with 1Q22, when the chain benefitted from an unusually favorable local market environment.
1Q23 Consolidated (Comparisons are to 1Q22 and % are of total revenues unless indicated otherwise)
- Cost of goods sold: 12.9% vs. 14.4% mainly due to increased higher-margin service revenues in the sales mix.
- Salaries and wages: Level at 26.7% vs. 26.7%.
- SG&A: 32.5% vs. 29.9% mainly due to non-cash stock-based compensation of $0.9 million and $0.4 million of repairs. Excluding these items, 1Q23 SG&A would have been 29.5%.
- Depreciation and amortization: 4.7% vs. 3.5% due to increased depreciable assets from newly acquired and constructed units and amortization of licenses from clubs at leased locations.
- Operating margin: 24.2% vs. 25.7% (level at 25.6% vs. 25.6% non-GAAP).
- Interest expense: 5.3% vs. 4.2%, primarily reflecting higher average debt mostly from seller-financed promissory notes from FY22 acquisitions.
- Income tax expense: $3.0 million vs. $2.9 million. The effective tax rate was 22.8% compared to 21.7%.
- Weighted average shares outstanding: Decreased 1.9% due to repurchases, partially offset by shares issued for clubs acquired in October 2021.
- Debt: $211.2 million at 12/31/22 compared to $202.5 million at 9/30/22. The increase primarily reflected financing for the acquisitions of Heartbreakers Gentlemen's Club; Lubbock, TX land for a Bombshells; and the Denver food hall.
Note
The novel coronavirus (COVID-19) pandemic disrupted and may continue to disrupt our business, which has and could continue to materially affect our operations, financial condition, and results of operations for an extended period of time. All references to the "company," "we," "our," and similar terms include RCI Hospitality Holdings, Inc., and its subsidiaries, unless the context indicates otherwise.
Non-GAAP Financial Measures
In addition to our financial information presented in accordance with GAAP, management uses certain non-GAAP financial measures, within the meaning of the SEC Regulation G, to clarify and enhance understanding of past performance and prospects for the future. Generally, a non-GAAP financial measure is a numerical measure of a company's operating performance, financial position or cash flows that excludes or includes amounts that are included in or excluded from the most directly comparable measure calculated and presented in accordance with GAAP. We monitor non-GAAP financial measures because it describes the operating performance of the Company and helps management and investors gauge our ability to generate cash flow, excluding (or including) some items that management believes are not representative of the ongoing business operations of the Company, but are included in (or excluded from) the most directly comparable measures calculated and presented in accordance with GAAP. Relative to each of the non-GAAP financial measures, we further set forth our rationale as follows:
- Non-GAAP Operating Income and Non-GAAP Operating Margin. We calculate non-GAAP operating income and non-GAAP operating margin by excluding the following items from income from operations and operating margin: (a) amortization of intangibles, (b) gains or losses on sale of businesses and assets, (c) gains or losses on insurance, (d) settlement of lawsuits, and (e) stock-based compensation. We believe that excluding these items assists investors in evaluating period-over-period changes in our operating income and operating margin without the impact of items that are not a result of our day-to-day business and operations.
- Non-GAAP Net Income and Non-GAAP Net Income per Diluted Share. We calculate non-GAAP net income and non-GAAP net income per diluted share by excluding or including certain items to net income attributable to RCIHH common stockholders and diluted earnings per share. Adjustment items are: (a) amortization of intangibles, (b) gains or losses on sale of businesses and assets, (c) gains or losses on insurance, (d) unrealized gains or losses on equity securities, (e) settlement of lawsuits, (f) gain on debt extinguishment, (g) stock-based compensation, and (h) the income tax effect of the above-described adjustments. Included in the income tax effect of the above adjustments is the net effect of the non-GAAP provision for income taxes, calculated at 22.7% and 22.3% effective tax rate of the pre-tax non-GAAP income before taxes for the three months ended December 31, 2022 and 2021, respectively, and the GAAP income tax expense (benefit). We believe that excluding and including such items help management and investors better understand our operating activities.
- Adjusted EBITDA. We calculate adjusted EBITDA by excluding the following items from net income attributable to RCIHH common stockholders: (a) depreciation and amortization, (b) income tax expense (benefit), (c) net interest expense, (d) gains or losses on sale of businesses and assets, (e) gains or losses on insurance, (f) unrealized gains or losses on equity securities, (g) settlement of lawsuits, (h) gain on debt extinguishment, and (i) stock-based compensation. We believe that adjusting for such items helps management and investors better understand our operating activities. Adjusted EBITDA provides a core operational performance measurement that compares results without the need to adjust for federal, state and local taxes which have considerable variation between domestic jurisdictions. The results are, therefore, without consideration of financing alternatives of capital employed. We use adjusted EBITDA as one guideline to assess our unleveraged performance return on our investments. Adjusted EBITDA is also the target benchmark for our acquisitions of nightclubs.
- Management also uses non-GAAP cash flow measures such as free cash flow. Free cash flow is derived from net cash provided by operating activities less maintenance capital expenditures. We use free cash flow as the baseline for the implementation of our capital allocation strategy.
About RCI Hospitality Holdings, Inc. (Nasdaq: RICK) (Twitter: @RCIHHinc )
With more than 60 locations, RCI Hospitality Holdings, Inc., through its subsidiaries, is the country's leading company in adult nightclubs and sports bars/restaurants. See all our brands at www.rcihospitality.com.
Forward-Looking Statements
This press release may contain forward-looking statements that involve a number of risks and uncertainties that could cause the company's actual results to differ materially from those indicated, including, but not limited to, the risks and uncertainties associated with (i) operating and managing an adult entertainment or restaurant business, (ii) the business climates in cities where it operates, (iii) the success or lack thereof in launching and building the company's businesses, (iv) cyber security, (v) conditions relevant to real estate transactions, (vi) the impact of the COVID-19 pandemic, and (vii) numerous other factors such as laws governing the operation of adult entertainment or restaurant businesses, competition and dependence on key personnel. For more detailed discussion of such factors and certain risks and uncertainties, see RCI's annual report on Form 10-K for the year ended September 30, 2022, as well as its other filings with the U.S. Securities and Exchange Commission. The company has no obligation to update or revise the forward-looking statements to reflect the occurrence of future events or circumstances.
Media & Investor Contacts
Gary Fishman and Steven Anreder at 212-532-3232 or gary.fishman@anreder.com and steven.anreder@anreder.com
1 See our January 10, 2023 news release on 1Q23 sales for more details.
RCI HOSPITALITY HOLDINGS, INC. |
CONDENSED CONSOLIDATED STATEMENTS OF INCOME |
(in thousands, except per share, number of shares and percentage data) |
|
|
|
|
|
|
|
|
| For the Three Months Ended December 31, |
| 2022 |
| 2021 |
| Amount |
| % of Revenue |
| Amount |
| % of Revenue |
Revenues |
|
|
|
|
|
|
|
Sales of alcoholic beverages | $ 29,650 |
| 42.4 % |
| $ 26,431 |
| 42.7 % |
Sales of food and merchandise | 10,347 |
| 14.8 % |
| 10,894 |
| 17.6 % |
Service revenues | 25,563 |
| 36.5 % |
| 20,876 |
| 33.8 % |
Other | 4,408 |
| 6.3 % |
| 3,635 |
| 5.9 % |
Total revenues | 69,968 |
| 100.0 % |
| 61,836 |
| 100.0 % |
Operating expenses |
|
|
|
|
|
|
|
Cost of goods sold |
|
|
|
|
|
|
|
Alcoholic beverages sold | 5,374 |
| 18.1 % |
| 4,834 |
| 18.3 % |
Food and merchandise sold | 3,586 |
| 34.7 % |
| 3,957 |
| 36.3 % |
Service and other | 49 |
| 0.2 % |
| 100 |
| 0.4 % |
Total cost of goods sold (exclusive of items shown below) | 9,009 |
| 12.9 % |
| 8,891 |
| 14.4 % |
Salaries and wages | 18,676 |
| 26.7 % |
| 16,505 |
| 26.7 % |
Selling, general and administrative | 22,732 |
| 32.5 % |
| 18,486 |
| 29.9 % |
Depreciation and amortization | 3,307 |
| 4.7 % |
| 2,194 |
| 3.5 % |
Other gains, net | (654) |
| -0.9 % |
| (151) |
| -0.2 % |
Total operating expenses | 53,070 |
| 75.8 % |
| 45,925 |
| 74.3 % |
Income from operations | 16,898 |
| 24.2 % |
| 15,911 |
| 25.7 % |
Other income (expenses) |
|
|
|
|
|
|
|
Interest expense | (3,687) |
| -5.3 % |
| (2,604) |
| -4.2 % |
Interest income | 91 |
| 0.1 % |
| 106 |
| 0.2 % |
Non-operating gains, net | - |
| 0.0 % |
| 84 |
| 0.1 % |
Income before income taxes | 13,302 |
| 19.0 % |
| 13,497 |
| 21.8 % |
Income tax expense | 3,031 |
| 4.3 % |
| 2,933 |
| 4.7 % |
Net income | 10,271 |
| 14.7 % |
| 10,564 |
| 17.1 % |
Net loss (income) attributable to noncontrolling interests | (33) |
| 0.0 % |
| 11 |
| 0.0 % |
Net income attributable to RCIHH common shareholders | $ 10,238 |
| 14.6 % |
| $ 10,575 |
| 17.1 % |
|
|
|
|
|
|
|
|
Earnings per share |
|
|
|
|
|
|
|
Basic and diluted | $ 1.11 |
|
|
| $ 1.12 |
|
|
|
|
|
|
|
|
|
|
Weighted average shares outstanding |
|
|
|
|
|
|
|
Basic and diluted | 9,230,258 |
|
|
| 9,407,519 |
|
|
|
|
|
|
|
|
|
|
Dividends per share | $ 0.05 |
|
|
| $ 0.04 |
|
|
RCI HOSPITALITY HOLDINGS, INC. |
NON-GAAP FINANCIAL MEASURES |
(in thousands, except per share, number of shares and percentage data) |
|
|
|
|
| For the Three Months |
| Ended December 31, |
| 2022 |
| 2021 |
Reconciliation of GAAP net income to Adjusted EBITDA |
|
|
|
Net income attributable to RCIHH common stockholders | $ 10,238 |
| $ 10,575 |
Income tax expense | 3,031 |
| 2,933 |
Interest expense, net | 3,596 |
| 2,498 |
Settlement of lawsuits | - |
| 192 |
Gain on sale of businesses and assets | (590) |
| (342) |
Gain on debt extinguishment | - |
| (85) |
Unrealized loss on equity securities | - |
| 1 |
Gain on insurance | (64) |
| (1) |
Stock-based compensation | 941 |
| - |
Depreciation and amortization | 3,307 |
| 2,194 |
Adjusted EBITDA | $ 20,459 |
| $ 17,965 |
|
|
|
|
Reconciliation of GAAP net income to non-GAAP net income |
|
|
|
Net income attributable to RCIHH common stockholders | $ 10,238 |
| $ 10,575 |
Amortization of intangibles | 695 |
| 50 |
Settlement of lawsuits | - |
| 192 |
Gain on sale of businesses and assets | (590) |
| (342) |
Gain on debt extinguishment | - |
| (85) |
Unrealized loss on equity securities | - |
| 1 |
Gain on insurance | (64) |
| (1) |
Stock-based compensation | 941 |
| - |
Net income tax effect | (200) |
| (38) |
Non-GAAP net income | $ 11,020 |
| $ 10,352 |
|
|
|
|
Reconciliation of GAAP diluted earnings per share to non-GAAP diluted earnings per share |
|
|
|
Diluted shares | 9,230,258 |
| 9,407,519 |
GAAP diluted earnings per share | $ 1.11 |
| $ 1.12 |
Amortization of intangibles | 0.08 |
| 0.01 |
Settlement of lawsuits | - |
| 0.02 |
Gain on sale of businesses and assets | (0.06) |
| (0.04) |
Gain on debt extinguishment | - |
| (0.01) |
Unrealized loss on equity securities | - |
| 0.00 |
Gain on insurance | (0.01) |
| (0.00) |
Stock-based compensation | 0.10 |
| - |
Net income tax effect | (0.02) |
| (0.00) |
Non-GAAP diluted earnings per share | $ 1.19 |
| $ 1.10 |
|
|
|
|
Reconciliation of GAAP operating income to non-GAAP operating income |
|
|
|
Income from operations | $ 16,898 |
| $ 15,911 |
Amortization of intangibles | 695 |
| 50 |
Settlement of lawsuits | - |
| 192 |
Gain on sale of businesses and assets | (590) |
| (342) |
Gain on insurance | (64) |
| (1) |
Stock-based compensation | 941 |
| - |
Non-GAAP operating income | $ 17,880 |
| $ 15,810 |
|
|
|
|
Reconciliation of GAAP operating margin to non-GAAP operating margin |
|
|
|
GAAP operating margin | 24.2 % |
| 25.7 % |
Amortization of intangibles | 1.0 % |
| 0.1 % |
Settlement of lawsuits | 0.0 % |
| 0.3 % |
Gain on sale of businesses and assets | -0.8 % |
| -0.6 % |
Gain on insurance | -0.1 % |
| 0.0 % |
Stock-based compensation | 1.3 % |
| 0.0 % |
Non-GAAP operating margin | 25.6 % |
| 25.6 % |
|
|
|
|
Reconciliation of net cash provided by operating activities to free cash flow |
|
|
|
Net cash provided by operating activities | $ 14,895 |
| $ 16,264 |
Less: Maintenance capital expenditures | 1,864 |
| 998 |
Free cash flow | $ 13,031 |
| $ 15,266 |
RCI HOSPITALITY HOLDINGS, INC. |
SEGMENT INFORMATION |
(in thousands) |
|
|
|
|
| For the Three Months |
| Ended December 31, |
| 2022 |
| 2021 |
Revenues |
|
|
|
Nightclubs | $ 56,325 |
| $ 46,781 |
Bombshells | 13,431 |
| 14,771 |
Other | 212 |
| 284 |
| $ 69,968 |
| $ 61,836 |
|
|
|
|
Income (loss) from operations |
|
|
|
Nightclubs | $ 22,740 |
| $ 18,736 |
Bombshells | 1,847 |
| 2,802 |
Other | (185) |
| (43) |
Corporate | (7,504) |
| (5,584) |
| $ 16,898 |
| $ 15,911 |
RCI HOSPITALITY HOLDINGS, INC. |
NON-GAAP SEGMENT INFORMATION |
($ in thousands) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| For the Three Months Ended December 31, 2022 |
| For the Three Months Ended December 31, 2021 |
| Nightclubs |
| Bombshells |
| Other |
| Corporate |
| Total |
| Nightclubs |
| Bombshells |
| Other |
| Corporate |
| Total |
Income (loss) from operations | $ 22,740 |
| $ 1,847 |
| $ (185) |
| $ (7,504) |
| $ 16,898 |
| $ 18,736 |
| $ 2,802 |
| $ (43) |
| $ (5,584) |
| $ 15,911 |
Amortization of intangibles | 628 |
| 2 |
| 61 |
| 4 |
| 695 |
| 47 |
| 3 |
| - |
| - |
| 50 |
Settlement of lawsuits | - |
| - |
| - |
| - |
| - |
| 177 |
| 10 |
| - |
| 5 |
| 192 |
Loss (gain) on sale of businesses and assets | (569) |
| - |
| - |
| (21) |
| (590) |
| 45 |
| 13 |
| - |
| (400) |
| (342) |
Gain on insurance | (48) |
| - |
| - |
| (16) |
| (64) |
| (1) |
| - |
| - |
| - |
| (1) |
Stock-based compensation | - |
| - |
| - |
| 941 |
| 941 |
| - |
| - |
|
|
| - |
| - |
Non-GAAP operating income (loss) | $ 22,751 |
| $ 1,849 |
| $ (124) |
| $ (6,596) |
| $ 17,880 |
| $ 19,004 |
| $ 2,828 |
| $ (43) |
| $ (5,979) |
| $ 15,810 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GAAP operating margin | 40.4 % |
| 13.8 % |
| -87.3 % |
| -10.7 % |
| 24.2 % |
| 40.1 % |
| 19.0 % |
| -15.1 % |
| -9.0 % |
| 25.7 % |
Non-GAAP operating margin | 40.4 % |
| 13.8 % |
| -58.5 % |
| -9.4 % |
| 25.6 % |
| 40.6 % |
| 19.1 % |
| -15.1 % |
| -9.7 % |
| 25.6 % |
RCI HOSPITALITY HOLDINGS, INC. |
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS |
(in thousands) |
|
|
|
|
| For the Three Months |
| Ended December 31, |
| 2022 |
| 2021 |
CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
|
Net income | $ 10,271 |
| $ 10,564 |
Adjustments to reconcile net income to net cash provided by operating activities: |
|
|
|
Depreciation and amortization | 3,307 |
| 2,194 |
Gain on sale of businesses and assets | (686) |
| (523) |
Gain on debt extinguishment | - |
| (83) |
Unrealized loss on equity securities | - |
| 1 |
Amortization of debt discount and issuance costs | 144 |
| 51 |
Doubtful accounts expense on notes receivable | - |
| 17 |
Noncash lease expense | 719 |
| 629 |
Stock-based compensation | 941 |
| - |
Gain on insurance | (64) |
| - |
Changes in operating assets and liabilities: |
|
|
|
Accounts receivable | 1,447 |
| 1,344 |
Inventories | (94) |
| (445) |
Prepaid expenses, other current assets and other assets | (7,208) |
| (6,519) |
Accounts payable, accrued and other liabilities | 6,118 |
| 9,034 |
Net cash provided by operating activities | 14,895 |
| 16,264 |
CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
|
Proceeds from sale of businesses and assets | 2,784 |
| 803 |
Proceeds from insurance | 64 |
| 185 |
Proceeds from notes receivable | 55 |
| 34 |
Payments for property and equipment and intangible assets | (12,553) |
| (9,850) |
Acquisition of businesses, net of cash acquired | (4,000) |
| (39,302) |
Net cash used in investing activities | (13,650) |
| (48,130) |
CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
|
Proceeds from debt obligations | 1,500 |
| 17,002 |
Payments on debt obligations | (3,361) |
| (2,488) |
Purchase of treasury stock | (98) |
| - |
Payment of dividends | (462) |
| (380) |
Payment of loan origination costs | (96) |
| - |
Share in return of investment by noncontrolling partner | (600) |
| - |
Net cash provided by (used in) financing activities | (3,117) |
| 14,134 |
NET DECREASE IN CASH AND CASH EQUIVALENTS | (1,872) |
| (17,732) |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 35,980 |
| 35,686 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | $ 34,108 |
| $ 17,954 |
RCI HOSPITALITY HOLDINGS, INC. |
CONDENSED CONSOLIDATED BALANCE SHEETS |
(in thousands) |
|
|
|
|
|
|
| December 31, |
| September 30, |
| December 31, |
| 2022 |
| 2022 |
| 2021 |
ASSETS |
|
|
|
|
|
Current assets |
|
|
|
|
|
Cash and cash equivalents | $ 34,108 |
| $ 35,980 |
| $ 17,954 |
Accounts receivable, net | 6,016 |
| 8,510 |
| 6,012 |
Current portion of notes receivable | 235 |
| 230 |
| 225 |
Inventories | 4,051 |
| 3,893 |
| 3,530 |
Prepaid expenses and other current assets | 8,611 |
| 1,499 |
| 8,245 |
Assets held for sale | - |
| 1,049 |
| 3,113 |
Total current assets | 53,021 |
| 51,161 |
| 39,079 |
Property and equipment, net | 246,536 |
| 224,615 |
| 203,878 |
Operating lease right-of-use assets | 36,329 |
| 37,048 |
| 35,845 |
Notes receivable, net of current portion | 4,631 |
| 4,691 |
| 5,512 |
Goodwill | 70,189 |
| 67,767 |
| 54,484 |
Intangibles, net | 143,949 |
| 144,049 |
| 125,314 |
Other assets | 1,503 |
| 1,407 |
| 1,566 |
Total assets | $ 556,158 |
| $ 530,738 |
| $ 465,678 |
|
|
|
|
|
|
LIABILITIES AND EQUITY |
|
|
|
|
|
Current liabilities |
|
|
|
|
|
Accounts payable | $ 5,182 |
| $ 5,482 |
| $ 5,807 |
Accrued liabilities | 18,864 |
| 11,328 |
| 18,413 |
Current portion of debt obligations, net | 13,291 |
| 11,896 |
| 9,003 |
Current portion of operating lease liabilities | 2,850 |
| 2,795 |
| 2,288 |
Total current liabilities | 40,187 |
| 31,501 |
| 35,511 |
Deferred tax liability, net | 30,562 |
| 30,562 |
| 22,040 |
Debt, net of current portion and debt discount and issuance costs | 197,943 |
| 190,567 |
| 152,847 |
Operating lease liabilities, net of current portion | 35,270 |
| 36,001 |
| 35,154 |
Other long-term liabilities | 386 |
| 349 |
| 357 |
Total liabilities | 304,348 |
| 288,980 |
| 245,909 |
|
|
|
|
|
|
Commitments and contingencies |
|
|
|
|
|
|
|
|
|
|
|
Equity |
|
|
|
|
|
Preferred stock | - |
| - |
| - |
Common stock | 92 |
| 92 |
| 95 |
Additional paid-in capital | 68,070 |
| 67,227 |
| 80,397 |
Retained earnings | 183,726 |
| 173,950 |
| 139,888 |
Total RCIHH stockholders' equity | 251,888 |
| 241,269 |
| 220,380 |
Noncontrolling interests | (78) |
| 489 |
| (611) |
Total equity | 251,810 |
| 241,758 |
| 219,769 |
Total liabilities and equity | $ 556,158 |
| $ 530,738 |
| $ 465,678 |
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SOURCE RCI Hospitality Holdings, Inc.