RCI HOSPITALITY HOLDINGS INC
For the period ended Sep 30, 2024. Filed Dec 16, 2024.
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FY2024 · Filed Dec 16, 2024
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Note
- Segment Information
The Company owns and operates adult nightclubs and Bombshells Restaurants and Bars. The Company has identified such segments based on management responsibility and the nature of the Company’s products, services and costs. There are no major distinctions in geographical areas served as all operations are in the United States. The Company measures segment profit (loss) as income (loss) from operations. Segment assets are those assets controlled by each reportable segment. The Other category below includes our media and energy drink divisions that are not significant to the consolidated financial statements.
- Segment Information – continued
Below is the financial information related to the Company’s reportable segments (in thousands):
| 2024 | 2023 | 2022 | |
|---|---|---|---|
| Revenues (from external customers) | |||
| Nightclubs | $243,864 | $236,748 | $206,251 |
| Bombshells | 50,578 | 55,723 | 59,925 |
| Other | 1,162 | 1,319 | 1,444 |
| $295,604 | $293,790 | $267,620 | |
| Income (loss) from operations | |||
| Nightclubs | $58,094 | $73,187 | $82,798 |
| Bombshells | (10,646) | 6,502 | 11,504 |
| Other | (523) | (1,446) | 57 |
| Corporate | (28,120) | (26,759) | (22,900) |
| $18,805 | $51,484 | $71,459 | |
| Capital expenditures | |||
| Nightclubs | $9,106 | $11,840 | $17,477 |
| Bombshells | 7,760 | 16,578 | 3,586 |
| Other | 6,250 | 8,400 | 841 |
| Corporate | 1,484 | 3,566 | 2,099 |
| $24,600 | $40,384 | $24,003 | |
| Depreciation and amortization | |||
| Nightclubs | $11,823 | $10,871 | $9,604 |
| Bombshells | 2,365 | 2,574 | 1,783 |
| Other | 43 | 495 | 85 |
| Corporate | 1,164 | 1,211 | 919 |
| $15,395 | $15,151 | $12,391 | |
| September 30, 2024 | September 30, 2023 | |
|---|---|---|
| Total assets | ||
| Nightclubs | $454,892 | $483,563 |
| Bombshells | 79,091 | 85,215 |
| Other | 14,197 | 6,936 |
| Corporate | 36,184 | 35,170 |
| $584,364 | $610,884 | |
Excluded from revenues in the table above are intercompany rental revenues of the Nightclubs segment amounting to $18.8 million, $16.6 million, and $14.0 million for 2024, 2023, and 2022, respectively, and intercompany sales of Robust Energy Drink of Other segment amounting to $270,000, $254,000, and $261,000 for the same respective years. These intercompany revenue amounts are eliminated upon consolidation.
- Segment Information – continued
General corporate expenses include corporate salaries, health insurance and social security taxes for officers, legal, accounting and information technology employees, corporate taxes and insurance, legal and accounting fees, depreciation and other corporate costs such as automobile and travel costs. Management considers these to be non-allocable costs for segment purposes.
Certain real estate assets previously wholly assigned to Bombshells have been subdivided and allocated to other future development or investment projects. Accordingly, those asset costs have been transferred out of the Bombshells segment.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.