Playboy Enterprises Posts Narrowed Loss

Adult entertainment company Playboy Enterprises Inc. reported a sharply narrowed third-quarter net loss by adding revenue from newly acquired television networks and trimming online costs.

The Chicago-based company posted a third-quarter net loss of $2.1 million, or 9 cents per basic share, compared with a net loss of $6.5 million, or 27 cents a share a year ago.

Net revenue dropped 5% to $74.1 million from $77.9 million last year, partly due to declining subscription sales and weak advertising at its flagship Playboy magazine.

Despite the lower sales, Playboy posted an operating profit of $2.2 million, which excludes certain one-time costs, as it was able to trim corporate and other expenses.

Playboy’s class B shares ended trading on the New York Stock Exchange up 25 cents at $12.85, while its class A shares gained 26 cents to close at $10.65. The earnings announcement came after the market closed.