Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Mar. 31, 2016 | Apr. 30, 2016 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | Q2 | |
Entity Registrant Name | RCI HOSPITALITY HOLDINGS, INC. | |
Entity Central Index Key | 935,419 | |
Current Fiscal Year End Date | --09-30 | |
Entity Filer Category | Accelerated Filer | |
Trading Symbol | RICK | |
Entity Common Stock, Shares Outstanding | 9,889,166 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Mar. 31, 2016 | Sep. 30, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 9,055 | $ 8,020 |
Accounts receivable: | ||
Trade, net | 2,091 | 1,578 |
Other, net | 608 | 576 |
Marketable securities | 0 | 614 |
Inventories | 2,738 | 2,368 |
Prepaid expenses and other current assets | 3,154 | 4,010 |
Total current assets | 17,646 | 17,166 |
Property and equipment, net | 144,454 | 134,150 |
Other assets: | ||
Goodwill | 52,641 | 52,641 |
Indefinite lived intangibles, net | 55,728 | 55,828 |
Definite lived intangibles, net | 4,626 | 5,021 |
Other | 1,375 | 2,224 |
Total other assets | 114,370 | 115,714 |
Total assets | 276,470 | 267,030 |
Current liabilities: | ||
Accounts payable | 2,109 | 2,164 |
Accrued liabilities | 8,301 | 9,626 |
Texas patron tax liability | 1,254 | 1,364 |
Current portion of long-term debt | 8,755 | 9,700 |
Total current liabilities | 20,419 | 22,854 |
Deferred tax liability | 28,897 | 28,087 |
Other long-term liabilities | 2,279 | 2,723 |
Long-term debt | 92,958 | 84,880 |
Total liabilities | $ 144,553 | $ 138,544 |
Commitments and contingencies | ||
STOCKHOLDERS' EQUITY: | ||
Preferred stock, $.10 par, 1,000 shares authorized; none issued and outstanding | $ 0 | $ 0 |
Common stock, $.01 par, 20,000 shares authorized; 9,858 and 10,285 shares issued and outstanding, respectively | 99 | 103 |
Additional paid-in capital | 66,019 | 69,729 |
Accumulated other comprehensive income | 0 | 109 |
Retained earnings | 60,443 | 52,682 |
Total RCIHH stockholders’ equity | 126,561 | 122,623 |
Noncontrolling interests | 5,356 | 5,863 |
Total stockholders' equity | 131,917 | 128,486 |
Total liabilities and stockholders’ equity | $ 276,470 | $ 267,030 |
CONSOLIDATED BALANCE SHEETS _Pa
CONSOLIDATED BALANCE SHEETS [Parenthetical] - $ / shares shares in Thousands | Mar. 31, 2016 | Sep. 30, 2015 |
Preferred stock, par value (in dollars per share) | $ 0.10 | $ 0.10 |
Preferred stock, shares authorized | 1,000 | 1,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 20,000 | 20,000 |
Common stock, shares issued | 9,858 | 10,285 |
Common stock, shares outstanding | 9,858 | 10,285 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | |
Revenues: | ||||
Sales of alcoholic beverages | $ 14,581 | $ 14,311 | $ 29,178 | $ 28,316 |
Sales of food and merchandise | 4,609 | 4,837 | 8,943 | 9,670 |
Service revenues | 13,205 | 13,847 | 25,846 | 27,376 |
Other | 2,001 | 1,994 | 3,904 | 3,832 |
Total revenues | 34,396 | 34,989 | 67,871 | 69,194 |
Operating expenses: | ||||
Cost of goods sold | 5,227 | 5,381 | 10,411 | 10,492 |
Salaries and wages | 7,917 | 8,115 | 16,052 | 16,147 |
Stock compensation | 120 | 120 | 240 | 240 |
Other general and administrative: | ||||
Taxes and permits | 3,274 | 3,288 | 6,501 | 6,399 |
Charge card fees | 557 | 544 | 1,170 | 1,091 |
Rent | 859 | 1,184 | 1,807 | 2,325 |
Legal and professional | 982 | 1,064 | 2,087 | 2,023 |
Advertising and marketing | 1,225 | 1,312 | 2,530 | 2,679 |
Insurance | 907 | 801 | 1,781 | 1,621 |
Utilities | 694 | 708 | 1,404 | 1,442 |
Depreciation and amortization | 1,826 | 1,886 | 3,643 | 3,531 |
(Gain) loss on sale of property and marketable securities | (127) | (18) | (127) | (18) |
Impairment of assets | 0 | 0 | 0 | 1,358 |
Settlement of lawsuits and other one-time costs | 62 | 10,303 | 602 | 10,550 |
Other (Note 16) | 3,323 | 2,917 | 6,503 | 5,790 |
Total operating expenses | 26,846 | 37,605 | 54,604 | 65,670 |
Operating income (loss) | 7,550 | (2,616) | 13,267 | 3,524 |
Other income (expense): | ||||
Interest income | 1 | 26 | 3 | 39 |
Interest expense | (1,965) | (1,783) | (3,878) | (3,402) |
Gain from acquisition of controlling interest in subsidiary | 0 | 0 | 0 | 577 |
Income (loss) before income taxes | 5,586 | (4,373) | 9,392 | 738 |
Income taxes (benefit) | 293 | (1,265) | 1,660 | 581 |
Net income (loss) | 5,293 | (3,108) | 7,732 | 157 |
Less: net loss attributable to noncontrolling interests | 212 | 267 | 325 | 362 |
Net income (loss) attributable to RCI Hospitality Holdings, Inc. | $ 5,505 | $ (2,841) | $ 8,057 | $ 519 |
Basic earnings (loss) per share attributable to RCIHH shareholders: | ||||
Net income | $ 0.55 | $ (0.28) | $ 0.79 | $ 0.05 |
Diluted earnings (loss) per share attributable to RCIHH shareholders: | ||||
Net income | $ 0.54 | $ (0.28) | $ 0.78 | $ 0.05 |
Weighted average number of common shares outstanding: | ||||
Basic | 10,013 | 10,275 | 10,154 | 10,269 |
Diluted | 10,215 | 10,275 | 10,356 | 10,273 |
Dividends per share | $ 0.03 | $ 0 | $ 0.03 | $ 0 |
CONSOLIDATED STATEMENTS OF COMP
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | |
Net income (loss) | $ 5,293 | $ (3,108) | $ 7,732 | $ 157 |
Amounts reclassified from accumulated other comprehensive income | (109) | 0 | 0 | 0 |
Other comprehensive income: | ||||
Unrealized holding gain (loss) on securities available for sale | 0 | 5 | 0 | 13 |
Comprehensive income (loss) | 5,184 | (3,103) | 7,732 | 170 |
Comprehensive (income) loss attributable to noncontrolling interests | 212 | 267 | 325 | 362 |
Comprehensive income (loss) to common stockholders | $ 5,396 | $ (2,836) | $ 8,057 | $ 532 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 6 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 7,732 | $ 157 |
Adjustments to reconcile net income to cash provided by operating activities: | ||
Depreciation and amortization | 3,643 | 3,531 |
Deferred taxes | 786 | 1,461 |
Impairment of assets | 0 | 1,358 |
Amortization of note discount | 10 | 33 |
(Gain) on sale of marketable securities and from acquisition of controlling interest in subsidiary | (127) | (577) |
Deferred rents | (446) | (16) |
Beneficial conversion | 5 | 5 |
Stock compensation expense | 240 | 240 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (545) | (2,844) |
Inventories | (370) | (428) |
Prepaid expenses and other assets | 1,719 | 2,782 |
Accounts payable and accrued liabilities | (1,535) | 7,417 |
Cash provided by operating activities | 11,112 | 13,119 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Additions to property and equipment | (13,561) | (2,869) |
Proceeds from sale of marketable securities | 628 | 0 |
Acquisition of businesses, net of cash acquired | 0 | (1,244) |
Net cash used by investing activities | (12,933) | (4,113) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Payments on long-term debt | (7,553) | (8,234) |
Proceeds from long-term debt | 15,517 | 4,958 |
Payments of dividends | (296) | 0 |
Purchase of treasury stock | (4,704) | (1,925) |
Distribution to noncontrolling interests | (108) | (108) |
Cash provided by (used in) financing activities | 2,856 | (5,309) |
NET INCREASE IN CASH | 1,035 | 3,697 |
CASH AT BEGINNING OF PERIOD | 8,020 | 9,964 |
CASH AT END OF PERIOD | 9,055 | 13,661 |
CASH PAID DURING PERIOD FOR: | ||
Interest | 3,896 | 3,078 |
Income taxes | $ 97 | $ 1,724 |
CONSOLIDATED STATEMENTS OF CAS7
CONSOLIDATED STATEMENTS OF CASH FLOWS NON-CASH TRANSACTIONS AND OTHER - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | |
Issue of shares of common stock for acquiring a business Number of shares | 200,000 | |||
Debt Conversion, Converted Instrument, Shares Issued | 75,000 | 177,018 | ||
Stock Repurchased and Retired During Period, Shares | 500,902 | 192,427 | ||
Stock Repurchased and Retired During Period, Value | $ 4,700,000 | $ 1,900,000 | ||
Debt Conversion, Converted Instrument, Amount | $ 750,000 | 1,800,000 | ||
Real Estate [Member] | ||||
Long-term Debt | $ 1,400,000 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 6 Months Ended |
Mar. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q of Regulation S-X. They do not include all information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. However, except as disclosed herein, there has been no material change in the information disclosed in the notes to the consolidated financial statements for the year ended September 30, 2015 included in the Company's Annual Report on Form 10-K, as filed with the Securities and Exchange Commission. The interim unaudited financial statements should be read in conjunction with those financial statements included in the Form 10-K. In the opinion of management, all adjustments considered necessary for a fair presentation, consisting solely of normal recurring adjustments, have been made. Operating results for the six months ended March 31, 2016 are not necessarily indicative of the results that may be expected for the year ending September 30, 2016. |
RECENT ACCOUNTING STANDARDS AND
RECENT ACCOUNTING STANDARDS AND PRONOUNCEMENT | 6 Months Ended |
Mar. 31, 2016 | |
New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | 2. RECENT ACCOUNTING STANDARDS AND PRONOUNCEMENT In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”), which supersedes nearly all existing revenue recognition guidance under GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing GAAP. The standard is effective for annual periods beginning after December 15, 2016, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). The Company is still evaluating the effect of this standard on the consolidated financial statements. In the accompanying statements of income, the Company has reported revenues for the quarter ended March 31, 2016 and 2015 net of sales taxes and other revenue related taxes, due to a change in accounting policy. Previously, the Company had included these taxes in revenue and expense. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements Going Concern (Subtopic 205-40) In June 2014, the FASB issued ASU No. 2014-12, CompensationStock Compensation (Topic 718): Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (a consensus of the FASB Emerging Issues Task Force) In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs Interest - Imputation of Interest In February 2015, the FASB issued ASU No. 2015-02, which amends FASB ASU Topic 810, Consolidations In July 2015, the FASB issued ASU No. 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments In November 2015, the FASB issued ASU 2015-17, Balance Sheet Classification of Deferred Taxes |
RECLASSIFICATIONS
RECLASSIFICATIONS | 6 Months Ended |
Mar. 31, 2016 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Reclassifications [Text Block] | RECLASSIFICATIONS In the accompanying statements of income, the Company has reported revenues for the quarter ended March 31, 2016 and 2015 net of sales taxes and other revenue related taxes, due to a change in accounting policy. Previously, the Company had included these taxes in expense. The reclassifications amounted to $ 2.1 2.1 4.7 4.7 In the accompanying balance sheet, the Company has reported deferred tax assets and liabilities and assets as of March 31, 2016 and 2015 as a net item in accordance with ASU 2015-17 explained above. Previously, these balance sheet accounts had been reported gross as assets and liabilities. This change resulted in a reclassification of $ 2.9 3.4 In the accompanying balance sheet, the Company has reported deferred debt issue costs as a reduction of long-term debt as of March 31, 2016 and 2015, in accordance with ASU 2015-03 explained above. Previously these balance sheet accounts had been reported as other assets. This change resulted in a reclassification of $ 418,255 339,856 |
SIGNIFICANT ACCOUNTING POLICIES
SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Mar. 31, 2016 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | 4. SIGNIFICANT ACCOUNTING POLICIES Following are certain significant accounting principles and disclosures. The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: ⋅ Level 1 Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. ⋅ Level 2 Include other inputs that are directly or indirectly observable in the marketplace. ⋅ Level 3 Unobservable inputs which are supported by little or no market activity. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. We classify our marketable securities as available-for-sale, which are reported at fair value. Unrealized holding gains and losses, net of the related income tax effect, if any, on available-for-sale securities are excluded from income and are reported as accumulated other comprehensive income in stockholders’ equity. Realized gains and losses from securities classified as available for-sale are included in comprehensive income. We measure the fair value of our marketable securities based on quoted prices for identical securities in active markets, or Level 1 inputs. As of March 31, 2016, we reported no available-for-sale securities. In accordance with GAAP, we review our marketable securities to determine whether a decline in fair value of a security below the cost basis is other than temporary. Should the decline be considered other than temporary, we write down the cost basis of the security and include the loss in current earnings as opposed to an unrealized holding loss. No losses for other than temporary impairments in our marketable securities portfolio were recognized during the quarter ended March 31, 2016. (in thousands) Carrying March 31, 2016, Amount Level 1 Level 2 Level 3 Marketable securities $ - $ - $ - $ - (in thousands) Carrying September 30, 2015 Amount Level 1 Level 2 Level 3 Marketable securities $ 614 $ 614 $ - $ - Assets and Liabilities that are Measured at Fair Value on a Nonrecurring Basis Fair Value at Reporting Date Using Quoted Prices in Significant Active Markets for Significant Other Unobservable (in thousands) March 31 Identical Asset Observable Inputs Inputs Description 2016 (Level 1) (Level 2) (Level 3) Goodwill $ 52,641 $ - $ - $ 52,641 Property and equipment, net 144,454 - - 144,454 Indefinite lived intangibles 55,728 - - 55,728 Definite lived intangibles, net 4,626 - - 4,626 Fair Value at Reporting Date Using Quoted Prices in Significant Active Markets for Significant Other Unobservable (in thousands) September 30 Identical Asset Observable Inputs Inputs Description 2015 (Level 1) (Level 2) (Level 3) Goodwill $ 52,641 $ - $ - $ 52,641 Property and equipment, net 134,150 - - 134,150 Indefinite lived intangibles 55,828 - - 55,828 Definite lived intangibles, net 5,021 - - 5,021 Total Gains (Losses) (in thousands) Quarters Ended March 31, Description 2016 2015 Goodwill $ - $ - Property and equipment, net - - Indefinite lived intangibles (100) - Definite lived intangibles, net - - |
STOCK OPTIONS AND STOCK-BASED E
STOCK OPTIONS AND STOCK-BASED EMPLOYEE COMPENSATION | 6 Months Ended |
Mar. 31, 2016 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 5. STOCK OPTIONS AND STOCK-BASED EMPLOYEE COMPENSATION Employee and Director Stock Option Plans In 1995, the Company adopted the 1995 Stock Option Plan (the “1995 Plan”) for employees and directors. In August 1999, the Company adopted the 1999 Stock Option Plan (the “1999 Plan”) and in 2010, the Company’s Board of Directors approved the 2010 Stock Option Plan (the “2010 Plan”) (collectively, “the Plans”). The 2010 Plan was approved by the shareholders of the Company at the 2011 Annual Meeting of Shareholders. The options granted under the Plans may be either incentive stock options, or non-qualified options. The Plans are administered by the Board of Directors or by a compensation committee of the Board of Directors. The Board of Directors has the exclusive power to select individuals to receive grants, to establish the terms of the options granted to each participant, provided that all options granted shall be granted at an exercise price not less thanthe fair market value of the common stock covered by the option on the grant date and to make all determinations necessary or advisable under the Plans. The compensation costs recognized for each of the six month periods ended March 31, 2016 and 2015 were $ 240,024 Stock Option Activity There were no stock options outstanding at March 31, 2016, and there were no stock option transactions nor expense for the three months ended March 31, 2016 and 2015. |
GOODWILL AND OTHER INTANGIBLES
GOODWILL AND OTHER INTANGIBLES | 6 Months Ended |
Mar. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets Disclosure [Text Block] | 6. GOODWILL AND OTHER INTANGIBLES (in thousands) 2016 2015 Definite-Lived Intangibles Licenses Goodwill Definite-Lived Intangibles Licenses Goodwill Beginning balance $ 5,021 $ 55,828 $ 52,641 $ 729 $ 53,968 $ 43,374 Intangibles acquired - - - 10,375 3,565 - Impairment - - - - (1,358) - Amortization and other (395) (100) - (633) - 51 Ending balance $ 4,626 $ 55,728 $ 52,641 $ 10,471 $ 56,175 $ 43,425 During the six months ended March 31, 2015, we recorded an impairment of $ 1.4 |
LONG-TERM DEBT
LONG-TERM DEBT | 6 Months Ended |
Mar. 31, 2016 | |
Debt Disclosure [Abstract] | |
Long-term Debt [Text Block] | 7. LONG-TERM DEBT On March 31, 2016, a related party creditor converted $ 750,000 75,000 On January 13, 2016, a subsidiary of the Company acquired the land and building in Manhattan where Rick’s Cabaret New York is located. Total consideration was $ 10.0 14,000 5.0 In October 2015, the Company refinanced certain real estate debt amounting to $ 2.3 4.6 2.0 30,244 5.0 ten In October 2015, the Company entered into a $ 4.7 31,988 5.25 1 961,000 In December 2014, the Company refinanced certain real estate debt amounting to $ 2.1 2.0 13,270 5.25 ten In December 2014, the Company borrowed $ 1.0 13,215 10 ten In December 2014, the Company borrowed $ 2.0 12 three On January 13, 2015 a Company subsidiary purchased Down in Texas Saloon gentlemen’s club in an Austin, Texas suburb. As part of the transaction, another subsidiary also purchased the club’s real estate. Total consideration of $ 6.8 3.5 3.3 3.5 1 1.4 seller financing at 6% annual interest, with the balance provided by commercial bank financing at a variable interest rate equal to the prime rate plus 2%, but in no event less than 6.5%. |
COMMON STOCK
COMMON STOCK | 6 Months Ended |
Mar. 31, 2016 | |
Equity [Abstract] | |
Common Stock [Text Block] | 8. COMMON STOCK On March 31, 2016, a related party creditor converted $ 750,000 75,000 During the six months ended March 31, 2016, the Company purchased and retired 500,902 4.7 During the six months ended March 31, 2015, the Company purchased and retired 192,427 1.9 During the six months ended March 31, 2015, the Company converted debt principal and interest valued at $ 1.8 177,018 During the six months ended March 31, 2015, the Company 200,000 |
EARNINGS PER SHARE (EPS)
EARNINGS PER SHARE (EPS) | 6 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | 9. EARNINGS PER SHARE (EPS) The Company computes earnings per share in accordance with GAAP, which provides for the calculation of basic and diluted earnings per share. Basic earnings per share includes no dilution and is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of the Company. Potential common stock shares consist of shares that may arise from outstanding dilutive common stock warrants and options (the number of which is computed using the “treasury stock method”) and from outstanding convertible debentures (the number of which is computed using the “if converted method”). FOR THE QUARTER FOR THE SIX MONTHS ENDED MARCH 31, ENDED MARCH 31, 2016 2015 2016 2015 Basic earnings per share: Net income (loss) attributable to RCIHH’s shareholders $ 5,505 $ (2,841) $ 8,057 $ 519 Average number of common shares outstanding 10,013 10,275 10,154 10,269 Basic earnings (loss) per share - net income attributable to RCIHH’s shareholders $ 0.55 $ (0.28) $ 0.79 $ 0.05 Diluted earnings per share: Net income (loss) attributable to RCIHH’s shareholders $ 5,505 $ (2,841) $ 8,057 $ 519 Adustment. to net earnings from assumed conversion of debentures (1) 50 - 100 - Adjusted net income (loss) attributable to RCIHH’s shareholders $ 5,555 $ (2,841) $ 8,157 $ 519 Average number of common shares outstanding: Common shares outstanding 10,013 10,275 10,154 10,269 Potential dilutive shares resulting from exercise of warrants and options (2) - - - 4 Potential dilutive shares resulting from conversion of debentures (3) 202 - 202 - Total average number of common shares outstanding used for dilution 10,215 10,275 10,356 10,273 Diluted earnings (loss) per share - net income attributable to RCIHH’s shareholders $ 0.54 $ (0.28) $ 0.79 $ 0.05 (1) Represents interest expense on dilutive convertible debentures that would not occur if they were assumed converted. (2) All outstanding warrants and options were considered for the EPS computation. Potential dilutive options and warrants of 121,180 and 242,400 for the six months ended March 31, 2016 and 2015, respectively, have been excluded from earnings per share due to being anti-dilutive. (3) Convertible debentures (principal and accrued interest) outstanding at March 31, 2016 and 2015 totaling $ 2.3 6.0 10.00 12.50 10.25 12.50 * EPS may not foot due to rounding. |
ACQUISITIONS
ACQUISITIONS | 6 Months Ended |
Mar. 31, 2016 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | 10. ACQUISITIONS Six Months Ended March 31, 2015 On October 30, 2014, a 51 200,000 200,000 3.6 50,000 1 Six Months Ended March 31, 2015 (in thousands) Inventory and accounts receivable $ 500 Equipment, furniture and fixtures 356 Definite-lived intangibles 4,931 Goodwill 5,326 Accounts payable (1,482) Notes payable (963) Deferred tax liability (1,725) Noncontrolling interest (3,393) Net assets $ 3,550 In accordance with GAAP, the Company recorded a gain of approximately $ 229,000 15 750,000 Goodwill from this transaction is deductible for tax purposes. On January 13, 2015 a Company subsidiary purchased Down in Texas Saloon gentlemen’s club in an Austin, Texas suburb. As part of the transaction, another subsidiary also purchased the club’s real estate. Total consideration of $ 6.8 3.5 3.3 3.5 1 1.4 6 variable interest rate equal to the prime rate plus 2%, but in no event less than 6.5%. (in thousands) Buildings and land $ 3,130 Furniture and fixtures 20 Inventory 4 SOB license 3,546 Noncompete 100 Net assets $ 6,800 |
INCOME TAXES
INCOME TAXES | 6 Months Ended |
Mar. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | 11. INCOME TAXES 34 For the Three Months For the Six Months Ended March 31, Ended March 31, 2016 2015 2016 2015 Computed expected tax expense (benefit) $ 1,899 $ (1,487) $ 3,193 $ 251 State income taxes 64 74 127 148 Permanent differences 80 148 90 182 Section 45B credit (1,750) - (1,750) - Income tax expense (benefit) $ 293 $ (1,265) $ 1,660 $ 581 Included in the Company’s deferred tax liabilities at March 31, 2016 is approximately $ 16.4 During the quarter ended March 31, 2016, the Company discovered that it had not claimed certain FICA tip credits for certain years and has recently applied for those credits. The total net amount of the credits received, including fiscal years 2012 through the estimated amount as of March 31, 2016, amounts to $ 1.75 |
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES | 6 Months Ended |
Mar. 31, 2016 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | 12. COMMITMENTS AND CONTINGENCIES Legal Matters Texas Patron Tax The Company has reached a settlement with the State of Texas over payment of the state’s Patron Tax on adult club customers. To resolve the issue of taxes owed, the Company agreed to pay $ 10.0 119,000 84 5 10.0 9.6 7.2 8.2 7.2 6.6 and is included in long-term debt in the accompanying consolidated balance sheet Legal Matters New York Settlement On April 1, 2015, we and our subsidiaries, RCI Entertainment (New York), Inc. and Peregrine Enterprises, Inc., entered into an agreement to settle in full a New York based federal wage and hour class and collective action filed in the United States District Court for the Southern District of New York. Trial was scheduled to begin April 27, 2015. On September 22, 2015, the Court granted final approval of the settlement. Under the terms of the agreement, Peregrine Enterprises, Inc. was to make up to $ 15 1,833,333 1,833,333 Filed in 2009, the case claimed Rick’s Cabaret New York misclassified entertainers as independent contractors. Plaintiffs sought minimum wage for the hours they danced and return of certain fees. RCI Entertainment (New York), Inc. and Peregrine Enterprises, Inc. maintained the dancers were properly classified, and alternatively, amounts earned were well in excess of the minimum wage and should satisfy any obligations. In accordance with GAAP, the Company expensed $ 11.1 5.6 5.5 3.6 1.8 1.8 Indemnity Insurance Corporation As previously reported, the Company and its subsidiaries were insured under a liability policy issued by Indemnity Insurance Corporation, RRG (“IIC”) through October 25, 2013. The Company and its subsidiaries changed insurance companies on that date. On November 7, 2013, the Court of Chancery of the State of Delaware entered a Rehabilitation and Injunction Order (“Rehabilitation Order”), which declared IIC impaired, insolvent and in an unsafe condition and placed IIC under the supervision of the Insurance Commissioner of the State of Delaware (“Commissioner”) in her capacity as receiver (“Receiver”). The Rehabilitation Order empowered the Commissioner to rehabilitate IIC through a variety of means, including gathering assets and marshaling those assets as necessary. On April 10, 2014, the Court of Chancery of the State of Delaware entered a Liquidation and Injunction Order With Bar Date (“Liquidation Order”), which ordered the liquidation of IIC and terminated all insurance policies or contracts of insurance issued by IIC. The Liquidation Order further ordered that all claims against IIC must be filed with the Receiver before the close of business on January 16, 2015 and that all pending lawsuits involving IIC as the insurer are further stayed or abated until October 7, 2014. As a result, the Company and its subsidiaries no longer have insurance coverage under the liability policy with IIC. Currently, there are multiple civil lawsuits pending or threatened against the Company and its subsidiaries; and other potential lawsuits for incidents that occurred before October 25, 2013 could still be filed. The Company has retained counsel to defend against and evaluate these claims and lawsuits. We are funding 100 General The Company is involved in various suits and claims arising in the normal course of business. The ultimate outcome of these items will not have a material adverse effect on the Company’s consolidated statements of income or financial position. In April 2015, the Company was sued by a landlord in the 33rd Judicial District Court of Harris County, Texas for a Houston Bombshells which was under renovation in 2015. The plaintiff alleges RCI Hospitality Holdings, Inc.’s subsidiary, BMB Dining Services (Willowbrook), Inc., breached a lease agreement by constructing an outdoor patio, which allegedly interfered with the common areas of the shopping center, and by failing to provide Plaintiff with proposed plans before beginning construction. Plaintiff also asserts RCI Hospitality Holdings, Inc. is liable as guarantor of the lease. The lease was for a Bombshells restaurant to be opened in the Willowbrook Shopping Center in Houston, Texas. Both RCI Hospitality Holdings, Inc. and BMB Dining Services (Willowbrook), Inc. have denied liability and assert that Plaintiff has failed to mitigate its claimed damages. Further, BMB Dining Services (Willowbrook), Inc. asserts that Plaintiff affirmatively represented that the patio could be constructed under the lease and has filed counter claims and third-party claims against Plaintiff, Plaintiff’s manager, and Plaintiff’s broker asserting that they committed fraud and that the landlord breached the applicable agreements. It is unknown at this time whether the resolution of this uncertainty will have a material effect on the Company’s financial condition. Settlements of lawsuits for the six months ended March 31, 2016 and 2015 totaled $ 0.6 10.6 |
SEGMENT INFORMATION
SEGMENT INFORMATION | 6 Months Ended |
Mar. 31, 2016 | |
Segment Reporting [Abstract] | |
Segment Reporting Disclosure [Text Block] | 13. SEGMENT INFORMATION The Company is engaged in 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. Total assets are those assets controlled by each reportable segment. The other category below includes our media, Robust and internet divisions. Three Months Ended Six Months Ended March 31, March 31, 2016 2015 2016 2015 Business segment sales: Night clubs $ 29,062 $ 29,916 $ 57,514 $ 59,030 Bombshells 4,629 4,448 9,008 8,982 Other 705 625 1,349 1,182 $ 34,396 $ 34,989 $ 67,871 $ 69,194 Business segment operating income (loss): Night clubs $ 9,734 $ (818) $ 18,195 $ 6,836 Bombshells 643 457 1,245 882 Other (799) (724) (1,504) (1,189) General corporate (2,028) (1,531) (4,669) (3,005) $ 7,550 $ (2,616) $ 13,267 $ 3,524 Business segment capital expenditures: Night clubs $ 12,435 $ 710 $ 12,505 $ 675 Bombshells 104 676 144 1,553 Other - 430 2 444 General Corporate 133 91 589 197 $ 12,672 $ 1,907 $ 13,561 $ 2,869 Business segment depreciation and amortization: Night clubs $ 1,286 $ 1,224 $ 2,562 $ 2,479 Bombshells 232 221 462 274 Other 171 304 342 510 General corporate 137 137 277 268 $ 1,826 $ 1,886 $ 3,643 $ 3,531 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 |
RESTRICTED STOCK ISSUANCE
RESTRICTED STOCK ISSUANCE | 6 Months Ended |
Mar. 31, 2016 | |
Restricted Assets Disclosure [Abstract] | |
Restricted Assets Disclosure [Text Block] | 14. RESTRICTED STOCK ISSUANCE In July 2014, the Company granted to an executive officer and an officer of a subsidiary an aggregate total of 96,325 938,478 120,012 240,024 |
OTHER EXPENSES
OTHER EXPENSES | 6 Months Ended |
Mar. 31, 2016 | |
Other Income and Expenses [Abstract] | |
Other Income and Other Expense Disclosure [Text Block] | 15. OTHER EXPENSES For the Three Months For the Six Months Ended March 31, Ended March 31, (in thousands) 2016 2015 2016 2015 Security $480 $481 $1,018 $921 Cleaning services and products 443 448 873 898 Maintenance and repairs 461 407 890 804 Other 1,939 1,581 3,722 3,167 Total other expenses $ 3,323 $ 2,917 $ 6,503 $ 5,790 |
SIGNIFICANT ACCOUNTING POLICI23
SIGNIFICANT ACCOUNTING POLICIES (Policies) | 6 Months Ended |
Mar. 31, 2016 | |
Accounting Policies [Abstract] | |
Fair Value Measurement, Policy [Policy Text Block] | The Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible. The Company determines fair value based on assumptions that market participants would use in pricing an asset or liability in the principal or most advantageous market. When considering market participant assumptions in fair value measurements, the following fair value hierarchy distinguishes between observable and unobservable inputs, which are categorized in one of the following levels. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value: ⋅ Level 1 Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. ⋅ Level 2 Include other inputs that are directly or indirectly observable in the marketplace. ⋅ Level 3 Unobservable inputs which are supported by little or no market activity. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. We classify our marketable securities as available-for-sale, which are reported at fair value. Unrealized holding gains and losses, net of the related income tax effect, if any, on available-for-sale securities are excluded from income and are reported as accumulated other comprehensive income in stockholders’ equity. Realized gains and losses from securities classified as available for-sale are included in comprehensive income. We measure the fair value of our marketable securities based on quoted prices for identical securities in active markets, or Level 1 inputs. As of March 31, 2016, we reported no available-for-sale securities. In accordance with GAAP, we review our marketable securities to determine whether a decline in fair value of a security below the cost basis is other than temporary. Should the decline be considered other than temporary, we write down the cost basis of the security and include the loss in current earnings as opposed to an unrealized holding loss. No losses for other than temporary impairments in our marketable securities portfolio were recognized during the quarter ended March 31, 2016. |
Fair Value Assets And Liabilities Measured On Nonrecurring Basis [Policy Text Block] | (in thousands) Carrying March 31, 2016, Amount Level 1 Level 2 Level 3 Marketable securities $ - $ - $ - $ - (in thousands) Carrying September 30, 2015 Amount Level 1 Level 2 Level 3 Marketable securities $ 614 $ 614 $ - $ - Assets and Liabilities that are Measured at Fair Value on a Nonrecurring Basis Fair Value at Reporting Date Using Quoted Prices in Significant Active Markets for Significant Other Unobservable (in thousands) March 31 Identical Asset Observable Inputs Inputs Description 2016 (Level 1) (Level 2) (Level 3) Goodwill $ 52,641 $ - $ - $ 52,641 Property and equipment, net 144,454 - - 144,454 Indefinite lived intangibles 55,728 - - 55,728 Definite lived intangibles, net 4,626 - - 4,626 Fair Value at Reporting Date Using Quoted Prices in Significant Active Markets for Significant Other Unobservable (in thousands) September 30 Identical Asset Observable Inputs Inputs Description 2015 (Level 1) (Level 2) (Level 3) Goodwill $ 52,641 $ - $ - $ 52,641 Property and equipment, net 134,150 - - 134,150 Indefinite lived intangibles 55,828 - - 55,828 Definite lived intangibles, net 5,021 - - 5,021 Total Gains (Losses) (in thousands) Quarters Ended March 31, Description 2016 2015 Goodwill $ - $ - Property and equipment, net - - Indefinite lived intangibles (100) - Definite lived intangibles, net - - |
SIGNIFICANT ACCOUNTING POLICI24
SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended |
Mar. 31, 2016 | |
Accounting Policies [Abstract] | |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | (in thousands) Carrying March 31, 2016, Amount Level 1 Level 2 Level 3 Marketable securities $ - $ - $ - $ - (in thousands) Carrying September 30, 2015 Amount Level 1 Level 2 Level 3 Marketable securities $ 614 $ 614 $ - $ - |
Fair Value Measurements, Nonrecurring [Table Text Block] | Fair Value at Reporting Date Using Quoted Prices in Significant Active Markets for Significant Other Unobservable (in thousands) March 31 Identical Asset Observable Inputs Inputs Description 2016 (Level 1) (Level 2) (Level 3) Goodwill $ 52,641 $ - $ - $ 52,641 Property and equipment, net 144,454 - - 144,454 Indefinite lived intangibles 55,728 - - 55,728 Definite lived intangibles, net 4,626 - - 4,626 Fair Value at Reporting Date Using Quoted Prices in Significant Active Markets for Significant Other Unobservable (in thousands) September 30 Identical Asset Observable Inputs Inputs Description 2015 (Level 1) (Level 2) (Level 3) Goodwill $ 52,641 $ - $ - $ 52,641 Property and equipment, net 134,150 - - 134,150 Indefinite lived intangibles 55,828 - - 55,828 Definite lived intangibles, net 5,021 - - 5,021 Total Gains (Losses) (in thousands) Quarters Ended March 31, Description 2016 2015 Goodwill $ - $ - Property and equipment, net - - Indefinite lived intangibles (100) - Definite lived intangibles, net - - |
GOODWILL AND OTHER INTANGIBLES
GOODWILL AND OTHER INTANGIBLES (Tables) | 6 Months Ended |
Mar. 31, 2016 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | Following are the changes in the carrying amounts of goodwill and licenses for the six months ended March 31, 2016 and 2015: (in thousands) 2016 2015 Definite-Lived Intangibles Licenses Goodwill Definite-Lived Intangibles Licenses Goodwill Beginning balance $ 5,021 $ 55,828 $ 52,641 $ 729 $ 53,968 $ 43,374 Intangibles acquired - - - 10,375 3,565 - Impairment - - - - (1,358) - Amortization and other (395) (100) - (633) - 51 Ending balance $ 4,626 $ 55,728 $ 52,641 $ 10,471 $ 56,175 $ 43,425 |
EARNINGS PER SHARE (EPS) (Table
EARNINGS PER SHARE (EPS) (Tables) | 6 Months Ended |
Mar. 31, 2016 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Diluted EPS considers the potential dilution that could occur if the Company’s outstanding common stock options, warrants and convertible debentures were converted into common stock that then shared in the Company’s earnings (as adjusted for interest expense) that would no longer occur if the debentures were converted). FOR THE QUARTER FOR THE SIX MONTHS ENDED MARCH 31, ENDED MARCH 31, 2016 2015 2016 2015 Basic earnings per share: Net income (loss) attributable to RCIHH’s shareholders $ 5,505 $ (2,841) $ 8,057 $ 519 Average number of common shares outstanding 10,013 10,275 10,154 10,269 Basic earnings (loss) per share - net income attributable to RCIHH’s shareholders $ 0.55 $ (0.28) $ 0.79 $ 0.05 Diluted earnings per share: Net income (loss) attributable to RCIHH’s shareholders $ 5,505 $ (2,841) $ 8,057 $ 519 Adustment. to net earnings from assumed conversion of debentures (1) 50 - 100 - Adjusted net income (loss) attributable to RCIHH’s shareholders $ 5,555 $ (2,841) $ 8,157 $ 519 Average number of common shares outstanding: Common shares outstanding 10,013 10,275 10,154 10,269 Potential dilutive shares resulting from exercise of warrants and options (2) - - - 4 Potential dilutive shares resulting from conversion of debentures (3) 202 - 202 - Total average number of common shares outstanding used for dilution 10,215 10,275 10,356 10,273 Diluted earnings (loss) per share - net income attributable to RCIHH’s shareholders $ 0.54 $ (0.28) $ 0.79 $ 0.05 (1) Represents interest expense on dilutive convertible debentures that would not occur if they were assumed converted. (2) All outstanding warrants and options were considered for the EPS computation. Potential dilutive options and warrants of 121,180 and 242,400 for the six months ended March 31, 2016 and 2015, respectively, have been excluded from earnings per share due to being anti-dilutive. (3) Convertible debentures (principal and accrued interest) outstanding at March 31, 2016 and 2015 totaling $ 2.3 6.0 10.00 12.50 10.25 12.50 |
ACQUISITIONS (Tables)
ACQUISITIONS (Tables) | 6 Months Ended |
Mar. 31, 2016 | |
Robust [Member] | |
Business Acquisition [Line Items] | |
Business Acquisition Fair Values Assets and Liabilities [Table Text Block] | The following information summarizes the preliminary allocation of fair values assigned to the assets and liabilities at the purchase date. (in thousands) Inventory and accounts receivable $ 500 Equipment, furniture and fixtures 356 Definite-lived intangibles 4,931 Goodwill 5,326 Accounts payable (1,482) Notes payable (963) Deferred tax liability (1,725) Noncontrolling interest (3,393) Net assets $ 3,550 |
Texas Saloon Gentlemen’s Club [Member] | |
Business Acquisition [Line Items] | |
Business Acquisition Fair Values Assets and Liabilities [Table Text Block] | (in thousands) Buildings and land $ 3,130 Furniture and fixtures 20 Inventory 4 SOB license 3,546 Noncompete 100 Net assets $ 6,800 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 6 Months Ended |
Mar. 31, 2016 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Income tax expense on continuing operations for the periods presented differs from the “expected” federal income tax expense computed by applying the U.S. federal statutory rate of 34 For the Three Months For the Six Months Ended March 31, Ended March 31, 2016 2015 2016 2015 Computed expected tax expense (benefit) $ 1,899 $ (1,487) $ 3,193 $ 251 State income taxes 64 74 127 148 Permanent differences 80 148 90 182 Section 45B credit (1,750) - (1,750) - Income tax expense (benefit) $ 293 $ (1,265) $ 1,660 $ 581 |
SEGMENT INFORMATION (Tables)
SEGMENT INFORMATION (Tables) | 6 Months Ended |
Mar. 31, 2016 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Below is the financial information related to the Company’s segments: Three Months Ended Six Months Ended March 31, March 31, 2016 2015 2016 2015 Business segment sales: Night clubs $ 29,062 $ 29,916 $ 57,514 $ 59,030 Bombshells 4,629 4,448 9,008 8,982 Other 705 625 1,349 1,182 $ 34,396 $ 34,989 $ 67,871 $ 69,194 Business segment operating income (loss): Night clubs $ 9,734 $ (818) $ 18,195 $ 6,836 Bombshells 643 457 1,245 882 Other (799) (724) (1,504) (1,189) General corporate (2,028) (1,531) (4,669) (3,005) $ 7,550 $ (2,616) $ 13,267 $ 3,524 Business segment capital expenditures: Night clubs $ 12,435 $ 710 $ 12,505 $ 675 Bombshells 104 676 144 1,553 Other - 430 2 444 General Corporate 133 91 589 197 $ 12,672 $ 1,907 $ 13,561 $ 2,869 Business segment depreciation and amortization: Night clubs $ 1,286 $ 1,224 $ 2,562 $ 2,479 Bombshells 232 221 462 274 Other 171 304 342 510 General corporate 137 137 277 268 $ 1,826 $ 1,886 $ 3,643 $ 3,531 |
OTHER EXPENSES (Tables)
OTHER EXPENSES (Tables) | 6 Months Ended |
Mar. 31, 2016 | |
Other Income and Expenses [Abstract] | |
Schedule of Other Operating Cost and Expense, by Component [Table Text Block] | Following is a breakout of the most significant items contained in other expenses in the consolidated statements of income: For the Three Months For the Six Months Ended March 31, Ended March 31, (in thousands) 2016 2015 2016 2015 Security $480 $481 $1,018 $921 Cleaning services and products 443 448 873 898 Maintenance and repairs 461 407 890 804 Other 1,939 1,581 3,722 3,167 Total other expenses $ 3,323 $ 2,917 $ 6,503 $ 5,790 |
RECLASSIFICATIONS (Details Text
RECLASSIFICATIONS (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | Sep. 30, 2015 | |
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||
Revenues, Total | $ 34,396,000 | $ 34,989,000 | $ 67,871,000 | $ 69,194,000 | |
Restatement Adjustment [Member] | |||||
Error Corrections and Prior Period Adjustments Restatement [Line Items] | |||||
Revenues, Total | 2,100,000 | $ 2,100,000 | 4,700,000 | $ 4,700,000 | |
Deferred Tax Assets, Net, Total | 2,900,000 | 2,900,000 | $ 3,400,000 | ||
Deferred Costs, Total | $ 418,255 | $ 418,255 | $ 339,856 |
SIGNIFICANT ACCOUNTING POLICI32
SIGNIFICANT ACCOUNTING POLICIES (Details) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands | Mar. 31, 2016 | Sep. 30, 2015 |
Significant Accounting Policies [Line Items] | ||
Marketable securities | $ 0 | $ 614 |
Fair Value, Inputs, Level 1 [Member] | ||
Significant Accounting Policies [Line Items] | ||
Marketable securities | 0 | 614 |
Fair Value, Inputs, Level 2 [Member] | ||
Significant Accounting Policies [Line Items] | ||
Marketable securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | ||
Significant Accounting Policies [Line Items] | ||
Marketable securities | $ 0 | $ 0 |
SIGNIFICANT ACCOUNTING POLICI33
SIGNIFICANT ACCOUNTING POLICIES (Details 1) - USD ($) $ in Thousands | Mar. 31, 2016 | Sep. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2014 |
Significant Accounting Policies [Line Items] | ||||
Goodwill | $ 52,641 | $ 52,641 | $ 43,425 | $ 43,374 |
Property and equipment, net | 144,454 | 134,150 | ||
Indefinite lived intangibles | 55,728 | 55,828 | ||
Definite lived intangibles, net | 4,626 | 5,021 | 10,471 | $ 729 |
Fair Value, Measurements, Nonrecurring [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Goodwill | 0 | 0 | ||
Property and equipment, net | 0 | 0 | ||
Indefinite lived intangibles | (100) | 0 | ||
Definite lived intangibles, net | 0 | $ 0 | ||
Quoted Prices in Active Markets for Identical Asset (Level 1) [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Goodwill | 0 | 0 | ||
Property and equipment, net | 0 | 0 | ||
Indefinite lived intangibles | 0 | 0 | ||
Definite lived intangibles, net | 0 | 0 | ||
Significant Other Observable Inputs (Level 2) [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Goodwill | 0 | 0 | ||
Property and equipment, net | 0 | 0 | ||
Indefinite lived intangibles | 0 | 0 | ||
Definite lived intangibles, net | 0 | 0 | ||
Significant Unobservable Inputs (Level 3) [Member] | ||||
Significant Accounting Policies [Line Items] | ||||
Goodwill | 52,641 | 52,641 | ||
Property and equipment, net | 144,454 | 134,150 | ||
Indefinite lived intangibles | 55,728 | 55,828 | ||
Definite lived intangibles, net | $ 4,626 | $ 5,021 |
STOCK OPTIONS AND STOCK-BASED34
STOCK OPTIONS AND STOCK-BASED EMPLOYEE COMPENSATION (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Allocated Share-based Compensation Expense | $ 240,024 | $ 240,024 | ||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Grants In Period, Gross | 0 | 0 | ||
Share-based Compensation, Total | $ 120,000 | $ 120,000 | 240,000 | $ 240,000 |
Employee Stock Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share-based Compensation, Total | $ 0 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Beginning Balance | 0 | 0 |
GOODWILL AND OTHER INTANGIBLE35
GOODWILL AND OTHER INTANGIBLES (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Mar. 31, 2016 | Mar. 31, 2015 | |
Definite-lived Intangible Assets [Line Items] | ||
Definite- Lived Intangibles, Beginning balance | $ 5,021 | $ 729 |
Definite- Lived Intangibles, Intangibles acquired | 0 | 10,375 |
Definite- Lived Intangibles, Impairment | 0 | 0 |
Definite- Lived Intangibles, Amortization and other | (395) | (633) |
Definite- Lived Intangibles, Ending balance | 4,626 | 10,471 |
Licenses, Beginning balance | 55,828 | 53,968 |
Licenses, Intangibles acquired | 0 | 3,565 |
Licenses, Impairment | 0 | (1,358) |
Licenses, Amortization and other | (100) | 0 |
Licenses, Ending balance | 55,728 | 56,175 |
Goodwill, Beginning balance | 52,641 | 43,374 |
Goodwill, Intangibles acquired | 0 | 0 |
Goodwill, Imapairment | 0 | 0 |
Goodwill, Amortization and other | 0 | 51 |
Goodwill, Ending balance | $ 52,641 | $ 43,425 |
GOODWILL AND OTHER INTANGIBLE36
GOODWILL AND OTHER INTANGIBLES (Details Textual) $ in Millions | 6 Months Ended |
Mar. 31, 2015USD ($) | |
Temptations Cabaret [Member] | |
Goodwill And Intangible Assets [Line Items] | |
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) | $ 1.4 |
LONG-TERM DEBT (Details Textual
LONG-TERM DEBT (Details Textual) | Jan. 13, 2016USD ($)ft² | Jan. 13, 2015USD ($)a | Oct. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Mar. 31, 2016USD ($)shares | Dec. 31, 2015USD ($)shares | Mar. 31, 2016USD ($)shares | Mar. 31, 2015USD ($)shares |
Debt Instrument [Line Items] | ||||||||
Payments to Acquire Real Estate | $ 10,000,000 | $ 6,800,000 | ||||||
Debt Conversion, Converted Instrument, Amount | $ 750,000 | $ 1,800,000 | ||||||
Debt Instrument, Term | 20 years | |||||||
Proceeds from Bank Debt | $ 961,000 | |||||||
Sale of Stock, Consideration Received on Transaction | 1,000,000 | |||||||
Sale of Stock, Nature of Consideration Received Per Transaction | seller financing at 6% annual interest, with the balance provided by commercial bank financing at a variable interest rate equal to the prime rate plus 2%, but in no event less than 6.5%. | |||||||
Debt Conversion, Converted Instrument, Shares Issued | shares | 75,000 | 177,018 | ||||||
Construction Loans [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.25% | |||||||
Debt Instrument, Periodic Payment | $ 31,988 | |||||||
Loans Payable | $ 4,700,000 | |||||||
Construction Loans [Member] | Prime Rate [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.00% | |||||||
Note Payable to Bank [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | |||||||
Building [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Area of Land | ft² | 14,000 | |||||||
Individual Counterparty [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||||||
Debt Instrument, Periodic Payment | $ 13,215 | |||||||
Debt Instrument, Term | 10 years | |||||||
Long-term Debt, Gross | $ 1,000,000 | |||||||
Real Estate [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | 5.25% | ||||||
Debt Instrument, Periodic Payment | $ 30,244 | $ 13,270 | ||||||
Payments to Acquire Real Estate | 3,300,000 | |||||||
Business Acquisitions Cost Of Acquired Entity Cash Paid | $ 1,400,000 | |||||||
Debt Instrument, Term | 10 years | 10 years | ||||||
Long-term Debt, Gross | $ 2,300,000 | $ 2,100,000 | ||||||
Loans Payable to Bank, Noncurrent | 4,600,000 | $ 2,000,000 | ||||||
Area of Land | a | 3.5 | |||||||
Sale of Stock, Consideration Received on Transaction | $ 2,000,000 | |||||||
Club Business [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Payments to Acquire Real Estate | $ 3,500,000 | |||||||
Lender [Member] | ||||||||
Debt Instrument [Line Items] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||||
Debt Instrument, Term | 3 years | |||||||
Long-term Debt, Gross | $ 2,000,000 |
COMMON STOCK (Details Textual)
COMMON STOCK (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2016 | Dec. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | |
Class of Stock [Line Items] | ||||
Stock Repurchased and Retired During Period, Shares | 500,902 | 192,427 | ||
Stock Repurchased and Retired During Period, Value | $ 4,700,000 | $ 1,900,000 | ||
Debt Conversion, Converted Instrument, Amount | $ 750,000 | $ 1,800,000 | ||
Debt Conversion, Converted Instrument, Shares Issued | 75,000 | 177,018 | ||
Stock Issued During Period, Shares, Acquisitions | 200,000 |
EARNINGS PER SHARE (EPS) (Detai
EARNINGS PER SHARE (EPS) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | ||
Basic earnings per share: | |||||
Net income (loss) attributable to RCIHH's shareholders | $ 5,505 | $ (2,841) | $ 8,057 | $ 519 | |
Average number of common shares outstanding | 10,013 | 10,275 | 10,154 | 10,269 | |
Basic earnings (loss) per share - net income attributable to RCIHH's shareholders | $ 0.55 | $ (0.28) | $ 0.79 | $ 0.05 | |
Diluted earnings per share: | |||||
Net income (loss) attributable to RCIHH's shareholders | $ 5,505 | $ (2,841) | $ 8,057 | $ 519 | |
Adustment. to net earnings from assumed conversion of debentures | [1] | 50 | 0 | 100 | 0 |
Adjusted net income (loss) attributable to RCIHH's shareholders | $ 5,555 | $ (2,841) | $ 8,157 | $ 519 | |
Average number of common shares outstanding: | |||||
Common shares outstanding | 10,013 | 10,275 | 10,154 | 10,269 | |
Potential dilutive shares resulting from exercise of warrants and options | [2] | 0 | 0 | 0 | 4 |
Potential dilutive shares resulting from conversion of debentures | [3] | 202 | 0 | 202 | 0 |
Total average number of common shares outstanding used for dilution | 10,215 | 10,275 | 10,356 | 10,273 | |
Diluted earnings (loss) per share - net income attributable to RCIHH's shareholders | $ 0.54 | $ (0.28) | $ 0.78 | $ 0.05 | |
[1] | Represents interest expense on dilutive convertible debentures that would not occur if they were assumed converted. | ||||
[2] | All outstanding warrants and options were considered for the EPS computation. Potential dilutive options and warrants of 121,180 and 242,400 for the six months ended March 31, 2016 and 2015, respectively, have been excluded from earnings per share due to being anti-dilutive. | ||||
[3] | Convertible debentures (principal and accrued interest) outstanding at March 31, 2016 and 2015 totaling $2.3 million and $6.0 million, respectively, were convertible into common stock at a price of $10.00 to $12.50 per share in 2015 and $10.25 to $12.50 in 2016. No potential dilutive shares for each of the three and six month periods ended March 31, 2016 have been excluded from earnings per share due to being anti-dilutive. During the three and six month periods ended March 31, 2015, 524,194 shares have been excluded from earnings per share due to being anti-dilutive each period. |
EARNINGS PER SHARE (EPS) (Det40
EARNINGS PER SHARE (EPS) (Details Textual) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | 6 Months Ended | |
Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | |
Options And Warrants [Member] | |||
Earnings Per Share [Line Items] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 121,180 | 242,400 | |
Convertible Debenture [Member] | |||
Earnings Per Share [Line Items] | |||
Convertible Debt | $ 6 | $ 2.3 | $ 6 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 524,194 | 524,194 | |
Maximum [Member] | |||
Earnings Per Share [Line Items] | |||
Debt Instrument, Convertible, Conversion Price | $ 12.50 | $ 12.50 | $ 12.50 |
Minimum [Member] | |||
Earnings Per Share [Line Items] | |||
Debt Instrument, Convertible, Conversion Price | $ 10 | $ 10.25 | $ 10 |
ACQUISITIONS (Details)
ACQUISITIONS (Details) - USD ($) $ in Thousands | Mar. 31, 2016 | Sep. 30, 2015 | Mar. 31, 2015 | Sep. 30, 2014 |
Restructuring Cost and Reserve [Line Items] | ||||
Goodwill | $ 52,641 | $ 52,641 | $ 43,425 | $ 43,374 |
Robust [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Inventory and accounts receivable | 500 | |||
Equipment, furniture and fixtures | 356 | |||
Definite-lived intangibles | 4,931 | |||
Goodwill | 5,326 | |||
Accounts payable | (1,482) | |||
Notes payable | (963) | |||
Deferred tax liability | (1,725) | |||
Noncontrolling interest | (3,393) | |||
Net assets | $ 3,550 |
ACQUISITIONS (Details 1)
ACQUISITIONS (Details 1) - Texas Saloon Gentlemens Club [Member] $ in Thousands | Jan. 13, 2015USD ($) |
Business Acquisition [Line Items] | |
Buildings and land | $ 3,130 |
Furniture and fixtures | 20 |
Inventory | 4 |
SOB license | 3,546 |
Noncompete | 100 |
Net assets | $ 6,800 |
ACQUISITIONS (Details Textual)
ACQUISITIONS (Details Textual) | Jan. 13, 2015USD ($)a | Oct. 31, 2015USD ($) | Oct. 30, 2014USD ($) | Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | Mar. 31, 2016USD ($) | Mar. 31, 2015USD ($) | Dec. 31, 2014 |
Business Acquisition [Line Items] | ||||||||
Sale of Stock, Consideration Received on Transaction | $ 1,000,000 | |||||||
Net Income (Loss) Attributable to Parent, Total | $ 5,505,000 | $ (2,841,000) | $ 8,057,000 | $ 519,000 | ||||
Texas Saloon Gentlemen’s Club [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | |||||||
Debt Instrument, Interest Rate, Basis for Effective Rate | variable interest rate equal to the prime rate plus 2%, but in no event less than 6.5%. | |||||||
Business Combination, Consideration Transferred | $ 6,800,000 | |||||||
Area of Land | a | 3.5 | |||||||
Sale of Stock, Consideration Received on Transaction | $ 1,000,000 | |||||||
Sale of Stock, Consideration Received Per Transaction | $ 1,400,000 | |||||||
Net Income (Loss) Attributable to Parent, Total | $ 1,000,000 | |||||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | |||||||
Debt Instrument, Interest Rate, Effective Percentage Rate Range, Minimum | 6.50% | |||||||
Real Estate [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | 5.25% | ||||||
Area of Land | a | 3.5 | |||||||
Sale of Stock, Consideration Received on Transaction | $ 2,000,000 | |||||||
Real Estate [Member] | Texas Saloon Gentlemen’s Club [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Business Combination, Consideration Transferred | $ 3,300,000 | |||||||
Club Business [Member] | Texas Saloon Gentlemen’s Club [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Business Combination, Consideration Transferred | $ 3,500,000 | |||||||
Robust Energy LLC [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Payments to Acquire Businesses, Gross | $ 200,000 | |||||||
Noncontrolling Interest, Ownership Percentage by Parent | 51.00% | |||||||
Business Combination, Consideration Transferred | $ 3,600,000 | |||||||
Percentage On Investment | 15.00% | |||||||
Gain (Loss) on Investments | $ 229,000 | |||||||
Investment Owned, at Cost | 750,000 | |||||||
Robust Energy LLC [Member] | Common Stock [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | 50,000 | |||||||
Robust Energy LLC [Member] | Restricted Stock [Member] | ||||||||
Business Acquisition [Line Items] | ||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ 200,000 |
INCOME TAXES (Details)
INCOME TAXES (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | |
Income Taxes [Line Items] | ||||
Computed expected tax expense (benefit) | $ 1,899 | $ (1,487) | $ 3,193 | $ 251 |
State income taxes | 64 | 74 | 127 | 148 |
Permanent differences | 80 | 148 | 90 | 182 |
Section 45B credit | (1,750) | 0 | (1,750) | 0 |
Income tax expense (benefit) | $ 293 | $ (1,265) | $ 1,660 | $ 581 |
INCOME TAXES (Details Textual)
INCOME TAXES (Details Textual) $ in Thousands | 6 Months Ended |
Mar. 31, 2016USD ($) | |
Income Taxes [Line Items] | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% |
Deferred Tax Liabilities, Net | $ 16,400 |
Effective Income Tax Rate Reconciliation, Deduction, Amount, Total | $ 1,750 |
COMMITMENTS AND CONTINGENCIES (
COMMITMENTS AND CONTINGENCIES (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | |||
Oct. 31, 2015 | Jun. 30, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | Sep. 30, 2015 | Apr. 01, 2015 | |
Commitments And Contingencies [Line Items] | ||||||
Settlement With Imputed Interest Discount | 10.00% | |||||
Pre Tax Gain For Previously Accrued For Tax | $ 7,200,000 | |||||
Accrued Professional Fees | 1,833,333 | |||||
Payments for Legal Settlements | 600,000 | $ 10,600,000 | ||||
Texas patron tax [Member] | ||||||
Commitments And Contingencies [Line Items] | ||||||
Loss Contingency, Damages Sought, Value | 10,000,000 | |||||
Monthly Installment Of Settlement Loss | $ 119,000 | |||||
Number Of Installments For Settlement | 84 months | |||||
Patron Tax Rate Per Customer | 5 | |||||
Settlement With Imputed Interest Discount | 9.60% | |||||
Net Present Value For The Settlement | $ 7,200,000 | |||||
Pre Tax Gain For Previously Accrued For Tax | $ 8,200,000 | |||||
Long-term Debt | 6,600,000 | |||||
New York Settlement [Member] | ||||||
Commitments And Contingencies [Line Items] | ||||||
Accrued Liabilities | 1,800,000 | |||||
Loss Contingency, Range of Possible Loss, Maximum | $ 15,000,000 | |||||
Loss Contingency Accrual, Payments | $ 1,833,333 | |||||
Loss Contingency Expense | $ 11,100,000 | |||||
Accrued Entertainers Fees | 5,600,000 | |||||
Accrued Liabilities and Other Liabilities, Total | 3,600,000 | |||||
Other Liabilities | 1,800,000 | |||||
Accrued Professional Fees | $ 5,500,000 | |||||
Indemnity Insurance Corporation [Member] | ||||||
Commitments And Contingencies [Line Items] | ||||||
Percentage of Costs of Litigation | 100.00% |
SEGMENT INFORMATION (Details)
SEGMENT INFORMATION (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | |
Segment information line items [Line Items] | ||||
Revenues | $ 34,396 | $ 34,989 | $ 67,871 | $ 69,194 |
Operating income (loss) | 7,550 | (2,616) | 13,267 | 3,524 |
Capital Expenditures | 12,672 | 1,907 | 13,561 | 2,869 |
Depreciation and Amortization | 1,826 | 1,886 | 3,643 | 3,531 |
Nightclubs [Member] | Business Segment [Member] | ||||
Segment information line items [Line Items] | ||||
Revenues | 29,062 | 29,916 | 57,514 | 59,030 |
Operating income (loss) | 9,734 | (818) | 18,195 | 6,836 |
Capital Expenditures | 12,435 | 710 | 12,505 | 675 |
Depreciation and Amortization | 1,286 | 1,224 | 2,562 | 2,479 |
Bombshells [Member] | Business Segment [Member] | ||||
Segment information line items [Line Items] | ||||
Revenues | 4,629 | 4,448 | 9,008 | 8,982 |
Operating income (loss) | 643 | 457 | 1,245 | 882 |
Capital Expenditures | 104 | 676 | 144 | 1,553 |
Depreciation and Amortization | 232 | 221 | 462 | 274 |
Other [Member] | Business Segment [Member] | ||||
Segment information line items [Line Items] | ||||
Revenues | 705 | 625 | 1,349 | 1,182 |
Operating income (loss) | (799) | (724) | (1,504) | (1,189) |
Capital Expenditures | 0 | 430 | 2 | 444 |
Depreciation and Amortization | 171 | 304 | 342 | 510 |
General Corporate [Member] | Business Segment [Member] | ||||
Segment information line items [Line Items] | ||||
Operating income (loss) | (2,028) | (1,531) | (4,669) | (3,005) |
Capital Expenditures | 133 | 91 | 589 | 197 |
Depreciation and Amortization | $ 137 | $ 137 | $ 277 | $ 268 |
RESTRICTED STOCK ISSUANCE (Deta
RESTRICTED STOCK ISSUANCE (Details Textual) - USD ($) | 1 Months Ended | 6 Months Ended | |
Jul. 31, 2014 | Mar. 31, 2016 | Mar. 31, 2015 | |
Restricted Assets Disclosure [Line Items] | |||
Restricted Stock, Shares Issued Net of Shares for Tax Withholdings | 96,325 | ||
Restricted Stock, Value, Shares Issued Net of Tax Withholdings | $ 938,478 | ||
Unamortized Restricted Stock Issuance Cost | $ 120,012 | ||
Employee Service Share-based Compensation, Allocation of Recognized Period Costs, Capitalized Amount | $ 240,024 | $ 240,024 | |
Restricted Stock [Member] | |||
Restricted Assets Disclosure [Line Items] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years |
OTHER EXPENSES (Details)
OTHER EXPENSES (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Mar. 31, 2016 | Mar. 31, 2015 | Mar. 31, 2016 | Mar. 31, 2015 | |
Other Expense [Line Items] | ||||
Security | $ 480 | $ 481 | $ 1,018 | $ 921 |
Cleaning services and products | 443 | 448 | 873 | 898 |
Maintenance and repairs | 461 | 407 | 890 | 804 |
Other | 1,939 | 1,581 | 3,722 | 3,167 |
Total other expenses | $ 3,323 | $ 2,917 | $ 6,503 | $ 5,790 |