August 06, 2002 04:25pm
Playboy 2nd-Quarter Loss Narrows
(CHICAGO, IL) -- Adult entertainment company Playboy Enterprises Inc. on Tuesday reported a narrowed second loss on Tuesday, boosted by profits from its entertainment units and reduced losses online.
Chicago-based Playboy with its flagship Playboy men's magazine, reported a net loss of $3.1 million, or 12 cents a share, compared with a loss of $8 million, or 32 cents a share, in the same quarter last year when it was hampered by weak advertising and online costs.
Financial analysts had expected Playboy to post a loss between 8 cents and 12 cents a share, based on only two analysts.
Playboy said it posted operating income of $2.2 million compared with an operating loss of $4.7 million one year ago.
Revenues fell to $70.6 million from $71.9 million last year.