sarettah
01-05-2005, 07:13 PM
http://www.smartmoney.com/onedaywonder/ind...?story=20050105 (http://www.smartmoney.com/onedaywonder/index.cfm?story=20050105)
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Rick's Cabaret International, Inc. (RICK)
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Share price as of Tuesday's close: $2.85
Share price now: $3.78
Change: 32.6%
Volume: 1.4 million shares, daily average 18,500 shares
Last time this high: April 20, 2000
52-week high: $3.50
52-week low: $1.69
Shares of Rick's Cabaret International (RICK) leapt 33% to $3.78 Wednesday after the adult-entertainment outfit reported nearly doubling its profits for fiscal 2004 on a moderate rise in revenue. The recovery in business travel, an improving economy and a growing acceptance of pornography all contributed to the Houston company's financial performance.
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As for Rick's Internet operations, fiscal 2004 revenues fell 24.4% year-over-year as the company moved away from subscription-based Web sites offering photos, videos and other adult content. Rick's operates two membership Web sites for swingers, couplestouch.com and otherstouch.com. The monthly fee is $7.95. The company also has a network of nine online auction sites under the flagship site naughtybids.com. Sellers of adult-oriented items are charged a fee for each successful auction. According to Langan, the membership and auction sites are becoming more attractive because of their lower-cost structures. Auction-site revenues have been flat, says the CEO, hampered by eBay's (EBAY) decision to cut off Rick's access to PayPal, the payment-exchange service acquired by eBay. Revenue from the membership sites is rising, though Langan didn't break out the figures.
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--------------------------------------------------------------------------------
Rick's Cabaret International, Inc. (RICK)
--------------------------------------------------------------------------------
Share price as of Tuesday's close: $2.85
Share price now: $3.78
Change: 32.6%
Volume: 1.4 million shares, daily average 18,500 shares
Last time this high: April 20, 2000
52-week high: $3.50
52-week low: $1.69
Shares of Rick's Cabaret International (RICK) leapt 33% to $3.78 Wednesday after the adult-entertainment outfit reported nearly doubling its profits for fiscal 2004 on a moderate rise in revenue. The recovery in business travel, an improving economy and a growing acceptance of pornography all contributed to the Houston company's financial performance.
.................................................
As for Rick's Internet operations, fiscal 2004 revenues fell 24.4% year-over-year as the company moved away from subscription-based Web sites offering photos, videos and other adult content. Rick's operates two membership Web sites for swingers, couplestouch.com and otherstouch.com. The monthly fee is $7.95. The company also has a network of nine online auction sites under the flagship site naughtybids.com. Sellers of adult-oriented items are charged a fee for each successful auction. According to Langan, the membership and auction sites are becoming more attractive because of their lower-cost structures. Auction-site revenues have been flat, says the CEO, hampered by eBay's (EBAY) decision to cut off Rick's access to PayPal, the payment-exchange service acquired by eBay. Revenue from the membership sites is rising, though Langan didn't break out the figures.
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