Playboy, the company known for its flagship magazine featuring a bunny logo and centerfolds of naked women, "adult entertainment" television programming and lavish parties at founder Hugh Hefner's mansion, hasn't been much of a turn-on on for Wall Street lately.
Playboy's magazine publishing division is struggling. Advertsing revenue is way down, and the publishing unit posted a net loss in the first nine months of 2006.
No hop for the Bunny: Shares of Playboy have taken a pounding during the past year, leading to some speculation that the company could look to go private.
Shares of Playboy (Charts) fell nearly 18 percent in 2006 and so far this year have dropped another 7 percent. It's enough to make Playboy investors want to hide beneath one of Hefner's trademark velvet smoking jacket robes.
And the stock's poor performance has some calling for Playboy to make some drastic moves, possibly even a sale of the company.
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According to a report from Reuters, Playboy executives said during a conference call with analysts Tuesday morning that the company has no plans to go private.
Playboy released its fourth-quarter and full-year results on Tuesday and the numbers were disappointing. Revenue for the fourth quarter came in at $86.2 million, down 5 percent from a year ago, and below analysts' expectations of $93.1 million, according to estimates from Thomson First Call.
Earnings came in at 11 cents per share, 20 percent lower than a year ago and below Wall Street's consensus estimates of 12 cents per share.
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