Playboy Enterprises Inc. reduced its fourth-quarter net loss despite a drop in revenue caused by the sale of the Critics Choice Music catalog last year.
The adult entertainment marketer reported quarterly revenue of $73.5 million, compared with $77.1 million during the same period in 2001. The quarter ended Dec. 31, 2002.
However, the fourth quarter net loss fell to $4 million, compared with $11.7 million during the prior year.
The company also lowered its annual net loss from $33.5 million in 2001 to $17.1 million.
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