(Corrects first bullet point and paragraph 2 to show that the
company posted a loss, not income)
* Q2 loss $0.16/shr vs est loss $0.15/shr
* Q2 rev $56 mln vs est. $58 mln
* Print rev falls 45 percent
* Shares down 3.5 percent
Aug 5 Playboy Enterprises Inc PLA.N reported
a wider-than-expected quarterly loss on Thursday as revenue at
its print and digital segment continued to decline.
For the second quarter, net loss narrowed to $5.4 million,
or 16 cents per share, from $8.7 million, or 26 cents per
share, a year ago.
The adult entertainment company, which is being wooed by
both founder Hugh Hefner and rival Penthouse magazine-owner
FriendFinder Networks, saw revenue fall 10 percent to $56
Analysts were expecting a loss of 15 cents a share on sales
of $58 million, according to Thomson Reuters I/B/E/S.
Revenue at the print and digital segment fell 45 percent to
$20.9 million. The company expects this segment to return to
"modest profitability in the second half of 2010."
Licensing revenue rose 24 percent to $12.4 million during
the quarter. The company has struck licensing deals with
clothing makers, casinos and clubs to counter the diminishing
returns of the print advertising business.
Earlier this week, the company said its board had formed a
special committee to examine a bid by Hefner to take the
After Hefner proposed to acquire Playboy for $5.50 a share,
the owner of Penthouse magazine offered to pay $6.25 a share
for the company.
Shares of Playboy dropped more than 3 percent in trading
before the bell. They had closed at $5.39 Wednesday on the New
York Stock Exchange.
(Reporting by Mansi Dutta in Bangalore; Editing by Saumyadeb