Exhibit 99.1
 
 
FOR IMMEDIATE RELEASE
Investor/Media Contact:
 
Martha Lindeman
 
312-373-2430

 
PLAYBOY ENTERPRISES, INC. REPORTS
FOURTH QUARTER AND FULL YEAR RESULTS


CHICAGO, WEDNESDAY, FEBRUARY 13, 2008 – Playboy Enterprises, Inc. (PEI) (NYSE: PLA, PLAA) today reported a net loss for the fourth quarter ended December 31, 2007, of $1.1 million or $0.03 per basic and diluted share.  This compares with 2006 fourth quarter net income of $3.7 million, or $0.11 per basic and diluted share.  The company reported an operating loss of $1.9 million for the 2007 fourth quarter, versus operating income of $3.1 million in the prior-year period. Revenues for the 2007 fourth quarter were $85.9 million, essentially flat compared to the prior year.
The fourth quarter 2007 results included both a $1.9 million charge, due primarily to the sale of assets related to the company’s Andrita television studio, which is expected to be completed in March 2008, as well as a tax benefit of $2.6 million, primarily related to the UK television operations.  The fourth quarter 2006 results included a $1.8 million charge related to a legal settlement and a $2.6 million tax benefit.
Net income for the full year totaled $4.9 million, or $0.15 per basic and diluted share, more than double 2006 net income of $2.3 million, or $0.07 per basic and diluted share.  Operating income rose 10% for the year to $10.0 million on a 3% increase in revenues to $339.8 million.
PEI Chairman and Chief Executive Officer Christie Hefner said: “We continue to be very pleased with the growth and performance of our Licensing Group.  The 40% growth in 2007 full-year Licensing income reflected solid double-digit profit gains in our core consumer products businesses as well as the first full year of operations of the Playboy venues at the Palms Casino Resort.  We were also opportunistic in the sale of several pieces of art.  The media businesses’ results were mixed.  We posted another year of double-digit revenue and profit growth for the international TV business and increased total advertising sales for Playboy in print and online.  But we were disappointed with fourth quarter domestic TV and Publishing results.
“Looking ahead, our strategy is to grow the company leveraging both the ‘high tech’ and ‘high touch’ attributes of the Playboy brand.  In the media businesses, our first goal is to return our online and mobile properties to strong growth drivers. These efforts will entail investments in technology, marketing and content, which should begin to show results by the end of the year.  In addition to creating revenue-enhancing opportunities, our second goal in 2008 is to look for ways to improve margins in our media businesses, both by narrowing our focus to those initiatives with the most promise and by reducing our cost structure. We are finalizing two deals to that end. We expect next month to complete the sale of the assets of our Andrita television studio, which will benefit us financially while still allowing us to continue using those state-of-the-art production facilities.  In addition, we are completing a deal to outsource our e-commerce and catalog business to a company with significant experience in merchandising lifestyle brands.  We believe that this deal will improve profitability in what historically has been a very low-margin business and allow our licensing business to generate much higher sales through the e-commerce distribution platform than they previously have been able to achieve.
 

The following information was filed by Playboy Enterprises Inc on Wednesday, February 13, 2008 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.

View differences made from one year to another to evaluate Playboy Enterprises Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Playboy Enterprises Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account