Rick's Cabaret Posts Higher Q4 Profit

(RTTNews) - Rick's Cabaret International, Inc., (RICK) reported net income for the fourth quarter of $1.6 million or $0.17 per share, compared to $1.5 million or $0.15 per share for the year-ago quarter.

Excluding items, adjusted net income for the fourth quarter was $2.5 million or $0.27 per share, compared to $3.0 million or $0.31 per share in the prior year quarter.

Total revenue for the fourth quarter rose to $28.03 million from $23.87 million a year ago.

Looking forward to fiscal year 2014, the company forecasts earnings of about $1.20 per share and adjusted earnings of $1.70.