Playboy Enterprises Inc (PLA.N), publisher of one of the world's best known adult magazines, posted on Monday a wider first-quarter loss under the weight of a depressed advertising market and slow consumer spending.
The company, which has said it would be open to discussions about an outright sale, reported a loss of $13.7 million, or 41 cents per share. This compares with a loss of $4.2 million, or 13 cents per share, in the year-ago period.
Before restructuring and impairment charges, the company lost 15 cents a share for the quarter.
Blaming in part an economic slowdown that has curtailed advertising spending, the company said revenue declined to $61.6 million from $78.5 million a year before.
When you can't even make money printing naked ladies, the future of the print media is dire.