Playboy Enterprises Inc. reported first quarter 2003 net income of $600,000, compared with a net loss of $9.4 million a year earlier. The Chicago-based media firm’s sales rose from $66.1 million to $74.3 million. The quarter ended March 31.
The Online Group, which generated an operating profit of $300,000 as opposed to a year-ago loss of $3.6 million, was a significant reason for the firm’s fortunes. During the quarter, the group generated $9.2 million in revenue while reducing expenses.
The Entertainment Group, which includes its television, video and movie operations, generated first quarter operating income of $8 million, down from $9 million a year ago. Revenue for the division was $33.2 million, up from $30.7 million.
Playboy’s publishing sector posted $500,000 in operating profit, a turnaround from the $400,000 it took last year. Revenue for the quarter was $26.6 million.
The Licensing Group generated income of $3.6 million, up from the $800,000 it saw last year. Its revenue more than doubled, from $2.5 million to $5.2 million.
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