Exhibit 99.1
 


 



FOR IMMEDIATE RELEASE 
Investor Contact:
Martha Lindeman
312-373-2430

Media Contact:
Matthew Pakula
312-373-2435

PLAYBOY ENTERPRISES, INC. REPORTS
 
IMPROVED FOURTH QUARTER 2009 RESULTS

Segment Income Up Over Prior Year;
CEO Flanders Outlines Future Direction

CHICAGO, Thursday, February 18, 2010 – Playboy Enterprises, Inc. (PEI) (NYSE: PLA, PLAA) today reported a net loss of $27.8 million, or $0.83 per basic and diluted share, for the 2009 fourth quarter compared to a net loss of $146.8 million, or $4.40 per basic and diluted share, for the 2008 fourth quarter.  Both quarters included impairment, restructuring and other charges, which totaled $28.6 million in the 2009 fourth quarter and $157.2 million in the prior year quarter.
Segment income for the 2009 fourth quarter was $2.1 million, up from $1.1 million reported for the 2008 fourth quarter.  Stronger Licensing and Print/Digital results were responsible for the improvement.  Lower revenues in the media businesses led to a 13% decline in fourth quarter revenues year-over-year from $69.8 million to $60.6 million.
Playboy Chief Executive Officer Scott Flanders said: “We are a long way from effectively monetizing the power of the Playboy brand.  Today, we distribute content across five unique media platforms and oversee well over 100 licensing agreements globally. Although each of our businesses has promising opportunities, our operations are subscale in industries dominated by large players.  In our business, size matters.  Our mission is to create a stronger and significantly more profitable company.  To do so, we are changing the way we do business.
“Earlier today we announced a deal with IMG to outsource our Asian licensing business,” Flanders said.  “This follows our November announcement of an agreement with American Media, Inc. to handle most of the non-editorial operations of Playboy
 

 
 

The following information was filed by Playboy Enterprises Inc on Thursday, February 18, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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