Playboy expects higher 2nd-qtr. earns

Playboy Enterprises Inc. expects that fiscal second-quarter operating earnings will exceed the year-earlier quarter’s operating earnings of about $ 800,000, or 4 cents a share .

Christie Hefner, chairman and CEO, said the operating earnings for the quarter ending Dec. 31 should be about 7 cents a share.

In the fiscal 1991 second quarter, net income was $ 1.3 million (7 cents a share), which included a gain of $ 500,000 (3 cents) for a tax-loss carryforward.

Hefner spoke yesterday at the annual shareholders meeting of Playboy. She noted that for the full fiscal year, results will include a $ 1 million charge for expenses of relocating several offices.

She also said Playboy is looking for more joint ventures overseas to expand markets for its products, which include videotapes, television programming and apparel.

Hefner said Playboy is planning to put the magazine on line for electronic bulletin boards that are accessible via personal computers.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety