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Quarterly Results of Operations (Unaudited) (Tables) | 12 Months Ended
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Sep. 30, 2024
Quarterly Financial Information Disclosure [Abstract] |
Schedule of Quarterly Financial Information | The following tables summarize unaudited quarterly data for fiscal 2024, 2023, and 2022 (in thousands, except share and per share data):
| For the Three Months Ended
| December 31, 2023 |  | March 31, 2024 |  | June 30, 2024 |  | September 30, 2024
Revenues | $ | 73,907 |  |  | $ | 72,283 |  |  | $ | 76,180 |  |  | $ | 73,234 |
Income (loss) from operations(1) | $ | 13,165 |  |  | $ | 4,657 |  |  | $ | (2,536) |  |  | $ | 3,519 |
Net income (loss) attributable to RCIHH stockholders(1) | $ | 7,226 |  |  | $ | 774 |  |  | $ | (5,233) |  |  | $ | 244 |
Earnings (loss) per share(1) |  |  |  |  |  |  |
Basic and diluted | $ | 0.77 |  |  | $ | 0.08 |  |  | $ | (0.56) |  |  | $ | 0.03 |
Weighted average number of common shares outstanding |  |  |  |  |  |  |
Basic and diluted | 9,367,151 |  | 9,350,292 |  | 9,278,921 |  | 9,006,014
Dividends per share declared and paid | $ | 0.06 |  |  | $ | 0.06 |  |  | $ | 0.06 |  |  | $ | 0.07 |
| For the Three Months Ended
| December 31, 2022 |  | March 31, 2023 |  | June 30, 2023 |  | September 30, 2023
Revenues(2) | $ | 69,968 |  |  | $ | 71,517 |  |  | $ | 77,055 |  |  | $ | 75,250 |
Income from operations(2) | $ | 16,898 |  |  | $ | 13,427 |  |  | $ | 15,515 |  |  | $ | 5,644 |
Net income attributable to RCIHH stockholders(2) | $ | 10,238 |  |  | $ | 7,732 |  |  | $ | 9,085 |  |  | $ | 2,191 |
Earnings per share(2) |  |  |  |  |  |  |
Basic and diluted | $ | 1.11 |  |  | $ | 0.83 |  |  | $ | 0.96 |  |  | $ | 0.23 |
Weighted average number of common shares outstanding |  |  |  |  |  |  |
Basic and diluted | 9,230,258 |  | 9,265,781 |  | 9,430,225 |  | 9,417,166
Dividends per share declared and paid | $ | 0.05 |  |  | $ | 0.06 |  |  | $ | 0.06 |  |  | $ | 0.06 |
| For the Three Months Ended
| December 31, 2021 |  | March 31, 2022 |  | June 30, 2022 |  | September 30, 2022
Revenues(3) | $ | 61,836 |  |  | $ | 63,692 |  |  | $ | 70,714 |  |  | $ | 71,378 |
Income from operations(3) | $ | 15,911 |  |  | $ | 17,081 |  |  | $ | 20,507 |  |  | $ | 17,960 |
Net income attributable to RCIHH stockholders(3) | $ | 10,575 |  |  | $ | 10,952 |  |  | $ | 13,902 |  |  | $ | 10,612 |
Earnings per share(3) |  |  |  |  |  |  |
Basic and diluted | $ | 1.12 |  |  | $ | 1.15 |  |  | $ | 1.48 |  |  | $ | 1.15 |
Weighted average number of common shares outstanding |  |  |  |  |  |  |
Basic and diluted | 9,407,519 |  | 9,489,085 |  | 9,389,675 |  | 9,249,864
Dividends per share declared and paid | $ | 0.04 |  |  | $ | 0.05 |  |  | $ | 0.05 |  |  | $ | 0.05 |
(1) | Fiscal year 2024 results of operations were mainly impacted by $38.5 million in asset impairments ($8.0 million in the second quarter, $17.9 million in the third quarter, and $12.6 million in the fourth quarter). Quarterly effective income tax rate was 19.9%, 0.7%, 21.5%, and 145.1% from first to fourth quarter, respectively.
(2) | Fiscal year 2023 results of operations were mainly impacted by the six newly acquired clubs and the lower same-store sales. Net income attributable to RCIHH stockholders and earnings per share were impacted by $12.6 million in asset impairments ($662,000 in the second quarter, $2.6 million in the third quarter, and $9.3 million in the fourth quarter) and $3.8 million in lawsuit settlements ($3.1 million in the second quarter, $63,000 in the third quarter, and $576,000 in the fourth quarter). Quarterly effective income tax expense (benefit) rate was 22.8%, 21.8%, 20.1%, and (39.6)% from first to fourth quarter, respectively, including the impact of the release of a $176,000 deferred tax asset valuation allowance and the pretax loss in the fourth quarter.
(3) | Fiscal year 2022 results of operations were significantly higher than prior year due to the fifteen acquired clubs and one new Bombshells. Net income attributable to RCIHH stockholders and earnings per share were impacted by $1.9 million in asset impairments ($1.7 million in the third quarter and $166,000 in the fourth quarter) and $2.4 million gain on sale or disposition of businesses and assets ($342,000 in the first quarter, $58,000 in the second quarter, $266,000 in the third quarter, and $1.7 million in the fourth quarter). Quarterly effective income tax expense rate was 21.7%, 23.4%, 21.3%, and 27.5% from first to fourth quarter, respectively, including the impact of the $343,000 deferred tax asset valuation allowance in the fourth quarter.

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- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 270 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 + Details
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