Playboy Enterprises Inc. reported its third straight...

Playboy Enterprises Inc. reported its third straight quarter of profitability, continuing its recovery from the steep losses of 1986. The Chicago-based company posted net income from continuing operations in its fiscal third quarter of $1.1 million on revenue of $36.2 million. That compared to a loss of $3.2 million in the year-ago period on revenue of $41.9 million. Playboy attributed the improvement to increased profitability of its namesake magazine, resulting largely from reduced direct costs and operating expenses, and higher earnings of the video group.