Playboy posts narrower quarterly loss

Thu, Nov 5 07:19 PM

Enlarge Photo A man walks past a news stand selling Playboy magazines in Brasilia in this October...

Playboy Enterprises Inc reported a narrower quarterly loss on Thursday but revenue fell across its print, TV and licensing businesses.

Playboy, publisher of one of the world's most famous adult entertainment magazines, said its third-quarter net loss was $1.1 million, or 3 cents a share, compared with a loss of $6.2 million, or 19 cents a share, last year.

The latest quarter's results included a restructuring charge of half a million dollars, while the year-earlier quarter's results included $6.3 million in similar charges.

Revenue fell 20.4 percent to $56 million from $70.4 million in the third quarter of 2008.

The company expects year-over-year profit growth in its licensing business in the fourth quarter.

Playboy has been shifting management and earlier this year hired the former chief executive of newspaper publisher Freedom Communications, to improve the company's performance.

(Reporting by Anupreeta Das)

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