Playboy (NYSE: PLA) Enterprises' expected Q4 loss was $145.7 million ($4.37 per share), a bit higher than the roughly $100 million net loss it warned investors about last month. In any case, its loss widened considerably from Q407's $1.1 million net loss. This time around, Playboy pointed to a variety of impairment, restructuring and other charges totaling $157.2 million as the cause for the expanding loss.
Revenues fell 18.7 percent in the quarter to $69.8 million from last year's $85.9 million. Playboy blamed the decline on the sale of its TV studio and the outsourcing of the company's e-commerce business.More to come
By David Kaplan