Wider Net Loss at Playboy

CHICAGO: A $9.1 million restructuring charge at Playboy Enterprises, primarily related to the closure of its New York office, has resulted in the company recording a second-quarter loss of $8.7 million, up from the year-ago loss of $3.2 million.

Excluding that charge, Playboy posted a net income of $400,000, on revenues that declined from $73.4 million last year to $62.2 million.

The entertainment group emerged from last year’s segment loss of $200,000 to post a profit of $2 million, thanks to cost-saving efforts. Revenues in the segment, however, fell to $23.8 million from $29.6 million. U.S. TV revenues fell to $12.7 million, and international TV was down from $13.4 million to $10.4 million.