This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Playboy Losses Widen on Higher Costs

CHICAGO ( TheStreet) -- Playboy Enterprises (PLA) reported a loss during the third quarter, primarily driven by impairment and restructuring charges totaling $25.8 million.

For the quarter ended September 30, the company saw a loss of $27.4 million, or 81 cents per diluted share, compared with a loss of $1.1 million, or 3 cents per diluted share, in the same period a year ago. Analysts had expected a loss of 71 cents according to

Total revenue fell 7% to $52.1 million from $56 million during the quarter as a decrease in entertainment revenue and increased expenses more than offset gains in print, digital and licensing groups revenues.

Expenses related to impairment and restructuring skyrocketed to $25.8 million from $500,000 in the same period a year ago. Programming costs were $22.3 million while distribution agreement expenses came in at $3.1 million.

Corporate expenses rose 38.2% to $7.6 million from $5.5 million due to higher trademark defense costs and fees related to Hugh Hefner's proposal to take the company private.

Entertainment group revenue dropped 20.1% to $19.5 million from $24.4 million on lower U.S. television revenue. Domestic television revenue fell 21% to $9.8 million from $12.5 million, primarily due to DirecTV (DTV) withholding payments of about $3 million for Playboy programming during the quarter.

International television revenue was down 15.9% to $9 million from $10.7 million due to increased competition and an unfavorable foreign exchange rate.

Print and digital revenue was down 5.2% to $21.7 million from $22.9 million, while the 6.4% increase in Playboy magazine revenue to $10 million from $9.4 million was offset by the 11.5% drop in digital revenue to $8.5 million from $9.6 million.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
AAPL $130.28 0.00%
FB $81.53 0.00%
GOOG $565.06 0.00%
TSLA $218.42 0.00%
YHOO $44.52 0.00%


DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs