Playboy shows good quarter

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Playboy Enterprises said its earnings for the second quarter were up 14% to $1.14 million, up from $1 million in the year earlier period on a revenue increase of 11% to $71.6 million from $64.7 million. The company said higher revenue from domestic pay-per-view television and royalties from international product sales were primarily responsible for the gains. The publishing group which includes the flagship magazine and a catalog division was hit with an 18% decline in second quarter income to $3.4 million on a 2% revenue increase to $34.8 million. The company, which recently cuts its rate base on the flagship magazine back to 3.15 million, blamed last year's paper and postage hikes for the decline.

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