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RCI Hospitality Holdings, Inc. Message Board

  • shorting_ricks shorting_ricks May 9, 2013 4:39 PM Flag

    Non-GAAP earnings fell from .42 last year to .39

    And there were big legal fees last year!


    I would have been impressed with a $5/share loss with a goodwill writedown. Maybe next quarter they will take the big hit.

    Sentiment: Strong Sell

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    • Outlook:
      •We Are Focused on Achieving Our Goal of 20%-30% Growth Rate for Next 3 Years; So Far This Year, 17.9% Growth

      • 1 Reply to ttullio3
      • They added 65% more clubs (38 as opposed to 23) and needed big legal fees hurting last year just to achieve ANY growth this quarter.

        And the Non-GAAP earnings fell Y-O-Y, even with all the new clubs.

        I know you are pumping hard to keep the stock above $8.50 (in case 2M+ shares are needed to be printed to buy the 33rd St property), buy step back for a second and see the big picture. The earnings are still tiny compared to the liabilities and growing costs. Take out the $94M in goodwill and the liabilities are VERY high. Even with all that goodwill factored in, there's a NEGATIVE $11M in net tangible assests as of 12/31/12 reporting. Write down half of that goodwill and the balance sheet gets even uglier. You're looking 5-10 years out and hoping Eric doesn't change his focus too many more times. You have no idea what his plans are for shareholders. He's buying back shares with company cash to make HIS position bigger. You with the 500-5000 shares won't benefit from that. He will if he decides to buy the company or sell out to private equity.

        I don't put many pumpers on ignore, but you are out of control lately. Just like all the pumpers for the last 10 years. Look at the old posts from a few years ago and they are all the same.

        Sentiment: Strong Sell

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