http://finance.yahoo.com/news/...tys-1q16-eps-rebounds-210500990.html
RCI Hospitality's 1Q16 EPS Rebounds from 4Q15, Declares $0.03 Per Share Quarterly Dividend, to Open Third Club in New York City
1Q16 Highlights
•GAAP and Non-GAAP* results rebounded from 4Q15, but were below the year ago record quarter in 1Q15.
•GAAP EPS was $0.25 fully diluted compared to $0.05 in 4Q15 and $0.32 in 1Q15.
•Non-GAAP EPS was $0.30 fully diluted compared to $0.17 in 4Q15 and $0.42 in 1Q15.
•Free cash flow (FCF) remained strong at $3.9 million compared to $5.0 million in 1Q15 and is on track to reach approximately $15-18 million in FY16. RCI defines FCF as operating cash flow less maintenance capex.
Cash Dividend & Share Buy Backs
•Starting in 1Q16, the company stepped up its previously authorized share buyback program, taking advantage of its strong free cash flow to return capital to shareholders.
•In line with this program, RCI has declared a quarterly common stock dividend of $0.03 per share, or $0.12 per share annually. The declared dividend for the fiscal 2016 second quarter is payable on March 25, 2016, to holders of record on March 10, 2016, with an ex-dividend date of March 8, 2016.
•To date in FY16, the company has purchased 336,714 common shares at a cost of $3.3 million, reducing shares outstanding to 9.948 million at January 31, 2016 from 10.295 million a year ago.
New Club in NYC
•An RCI subsidiary plans to open a sports-themed gentlemen's club in the Madison Square Garden area in the second half of FY16, to complement its highly successful Rick's Cabaret New York and Vivid Cabaret New York.
•The new club is being developed through a joint venture that requires only $1.5 million investment and is expected to generate a risk-adjusted after tax return better than buying back shares.
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