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Playboy Forecasting a Banner Year

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May 6, 2004 9:40 AM PDT    Text size: 
CHICAGO – Playboy Enterprises Inc. said Thursday it expects to see continuing growth in revenue and operating income across all of its businesses for the next year.

The company made the announcement as it released its first-quarter results, where it saw its net income nearly triple on revenue growth.

"The year is off to a strong start led by revenue growth in our online and international television businesses,” Christie Hefner, Playboy’s chairman and chief executive officer, said. “Online operating income nearly tripled in the quarter, breaking through to a double-digit operating margin.”

The adult magazine and entertainment company reported net income of $1.9 million, compared with $632,000 a year earlier. Revenue climbed 8.9 percent to $80.9 million from $74.3 million.

The publishing division generated revenue of $29.7 million, up 11 percent from last year’s first quarter. Playboy cited higher newsstand sales in the United States and increased revenue from subscriptions and advertising.

Ad revenue for Playboy magazine rose 4.5 percent to $7.7 million. The company said it expects second-quarter ad revenue to increase about 15 percent from $8.2 million a year earlier.

Its entertainment segment, including domestic and international TV networks, had a rise in revenue of 6.8 percent to $35.5 million.

Playboy’s revenue in its online business rose 19 percent to $11 million.

Licensing generated revenue of $4.7 million, down 8.7 percent from the year-earlier period, when the $1.9 million sale of a Salvador Dali painting boosted revenue.

Chicago-based Playboy Enterprises publishes editions of Playboy magazine around the world, owns Playboy.com and operates the Playboy and Spice television networks, and licenses brands worldwide. It recently signed a licensing deal for video game “Playboy: The Mansion,” which will be available in the Xbox and PlayStation 2 formats in December.

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