Playboy Enterprises, one of the oldest names in adult entertainment, is having a hard time coping with the glut of online porn and the grim economic environment.
"[It] has been and will remain a difficult year," said Christine Hefner, chairman and CEO, in a statement.
Just how bad is it? The company posted a net loss of $2.1 million in the second quarter, down from a profit last year. Playboy's entertainment division posted a modest second-quarter profit of $1.8 million, down from $7.3 million last year; and entertainment-based sales slipped by $10.6 million to $41.2 million.
The company still has its good name to fall back on, though -- during the quarter, Playboy grew licensing income by 10 percent to $6 million, thanks to increased sales of Playboy-branded products in Southeast Asia, the U.S. and Latin America.
Photo: Courtesy Playboy
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