Licensing Drives Playboy in 1Q

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Playboy Enterprises posted first-quarter-2007 net income of $1.5 million, or $0.04 per basic and diluted share, versus $800,000 ($0.02) in the year-ago period.

Operating income rose 10% to $3.9 million from $3.5 million in the first quarter of 2006, while revenues were up 4% to $85.4 million from $82.1 million.

“The quarter's results demonstrate our belief in the very significant upside of our licensing business and strong growth potential of our newer digital-media businesses,” chairman and CEO Christie Hefner said in a prepared statement.

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