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Playboy posts quarterly loss after charges

NEW YORK
Wed Feb 13, 2008 8:25am EST

NEW YORK (Reuters) - Adult entertainment publisher Playboy Enterprises Inc posted a quarterly net loss on Wednesday and said it expects magazine advertising revenue to fall 30 percent in the first quarter.

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Playboy said its fourth-quarter net loss was $1.1 million, or 3 cents per share, compared with a net profit of $3.7 million, or 11 cent per share, a year earlier.

The latest results included a $1.9 million charge for asset sales related to Playboy's Andrita television studio, a $1.8 million charge for a legal settlement, and some tax benefits.

Revenue slipped to $85.9 million from $86.2 million a year earlier, the company said.

(Reporting by Michele Gershberg; editing by John Wallace)
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