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RCI HOSPITALITY HOLDINGS INC RCI Reports Record Revenues and Free Cash Flow for 3Q21 HOUSTON - August 5 , 2021 - RCI Hospitality Holdings , Inc. ( Nasdaq : RICK ) today reported results for the fiscal 2021 third quarter ended June 30 , 2021 , and filed its Form 10 - Q . Highlights 3Q21 vs 3Q20 • Record total revenues of $ 57.9 million compared to $ 14.7 million • Record net cash from operating activities of $ 15.0 million and record free cash flow * of $ 13.0 million • Record Nightclubs segment revenues of $ 41.0 million with 44.7 % operating margin Record Bombshells segment revenues of $ 16.1 million with 27.4 % operating margin Consolidated operating margins of 32.0 % • • • Strong EPS of $ 1.37 compared to net loss per share of $ 0.60 • Net income of $ 12.3 million and adjusted EBITDA * of $ 20.4 million . $ 29.1 million cash and cash equivalents at the end of the period Eric Langan , President and CEO , said : " Both our Nightclubs and Bombshells segments had their best overall performance in company history . Special thanks to our team members for managing the influx of customers at our locations and helping to shatter our sales records while keeping our costs in line . We continue to press ahead with our growth initiatives . Recently we announced an agreement to acquire 11 clubs in six states and related real estate for $ 88.0 million in stock , cash and debt . In addition , we are seeking out more nightclub acquisitions , developing more Bombshells , and expanding our list of potential Bombshells franchisee locations . " Conference Call Today at 5:00 PM ET Live Participant Phone : Toll Free 877-545-0320 , International 973-528-0016 , Passcode : 417610 • Live webcast , slides or replay link : https://www.webcaster4.com/Webcast/Page/2209/42364 • Phone replay : Toll Free 877-481-4010 , International 919-882-2331 , Passcode : 42364 Meet Management Tonight at 7:00 PM ET Investors are invited to meet management at one of RCI's top revenue generating clubs . • Thursday , August 5 , 2021 , 7:00 PM to 9:00 PM ET • Rick's Cabaret New York , 50 W. 33rd Street , New York , NY , between Fifth Avenue and Broadway • RSVP your contact information to gary.fishman@anreder.com by 5:00 PM ET today Nightclubs Segment 3Q21 vs 3Q20 : Revenues of $ 41.0 million compared to $ 6.0 million , an increase of 582.4 % . Thirty - six clubs were open all of 3Q21 compared to the year ago quarter , when all clubs were closed the month of April 2020 , in line with local and state pandemic regulations , and then in May - June 2020 a limited number began to reopen , but with restrictive curfews and occupancies . 3Q21 operating margin expanded to 44.7 % from ( 50.5 % ) in 3Q20 due to higher sales and a more favorable sales mix . As a result , segment operating income increased to $ 18.4 million from a loss of $ 3.0 million . 1