Playboy loses millions, but poised for profitability in 1990

Playboy Enterprises lost $3.8 million in its fiscal year thatended June 30, but Christie Hefner, chairman and chief executiveofficer, said Monday the company is now positioned to be profitablein 1990.

"Without making a promise or a projection (of profit), I thinkyou could predict that," she said in her first Chicago pressconference since assuming Playboy's top corporate spots. Her father,Playboy founder Hugh Hefner, relinquished the titles last November.

She said one-time expenses, including Playboy's impending movefrom Michigan Avenue to 680 N. Lake Shore Drive, an expensivenew-data processing system, and management changes and severancecharges torpedoed the …