Playboy Enterprises Reports Earnings Down for Fourth Quarter

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Playboy Enterprises Inc., Chicago, yesterday reported fourth quarter earnings of $12 million (before interest, taxes, depreciation and amortization), down from $16 million for the same period in 1998. Revenues were flat at $92.4 million. The Catalog Group, a division of Playboy, which includes Critics' Choice Video and Collectors' Choice Music catalogs and Web sites, and the Playboy and Spice product catalogs, reported fourth quarter EBITDA earnings down at $1.6 million, compared to $2.2 million for the same period in 1998. Catalog revenues declined 30 percent to $16.5 million, attributed to planned lower circulation for its video catalog. The Playboy and Spice catalogs were reconfigured as online-only catalogs at www.playboystore.com and www.cyberspice.com and become part of the publishing company's e-commerce business. Playboy Online will be spun off this year as Playboy.com in an IPO.

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