Playboy posts narrower quarterly loss

Playboy Enterprises Incorporation reported a narrower quarterly loss on Thursday but revenue fell across its print, TV and licensing businesses.

Playboy, publisher of one of the world's most famous adult entertainment magazines, said its third-quarter net loss was USD 1.1 million, or 3 cents a share, compared with a loss of USD 6.2 million, or 19 cents a share, last year.

The latest quarter's results included a restructuring charge of half a million dollars, while the year-earlier quarter's results included USD 6.3 million in similar charges.

Revenue fell 20.4% to USD 56 million from USD 70.4 million in the third quarter of 2008.

The company expects year-over-year profit growth in its licensing business in the fourth quarter.

Playboy has been shifting management and earlier this year hired the former chief executive of newspaper publisher Freedom Communications, to improve the company's performance.