Playboy Enterprises reported net income of $11.1...

Playboy Enterprises reported net income of $11.1 million for the year ended June 30, contrasted with a loss of $62.2 million last year. Sales were down 10% to $168.8 million for the year. Playboy reported fourth-quarter income of $7 million, compared to a loss of $16.3 million in the year-ago quarter. The Chicago company said its focus on successful core businesses, coupled with ongoing cost reduction efforts, were the principal reasons for the improved performance. The publishing group’s earnings improved dramatically, due in part to a 25% increase in the earnings of Playboy magazine.