Playboy Enterprises posts surprise Q4 loss

Playboy Enterprises Inc posted a narrower but surprise quarterly loss, hurt by declining sales and costs related to its potential going-private transaction.

For the fourth quarter, the company reported net loss of USD 14.7 million, or 43 cents a share, compared with a loss of USD 27.8 million, or 83 cents a share, a year ago.

Revenue for the adult entertainment company fell to USD 55 million from USD 60.6 million. The Entertainment Group sales fell to USD 18.8 million from USD 23.7 million a year ago.

On an adjusted basis, it posted a loss of 6 cents a share.

Analysts on average had expected the company to earn 1 cent per share, before special items, on revenue of USD 56.2 million, according to Thomson Reuters I/B/E/S.

Shares of the Chicago, Illinois-based company closed at USD 6.12 on Tuesday on the New York Stock Exchange.