Chicago - Playboy Enterprises Inc. (PEI) reported a net loss for the first quarter ended 31 March 2009 of $13.7 million. First quarter 2009 revenues totaled $61.6 million, down $16.9 million from the prior year period, primarily reflecting the outsourcing of operations, asset sales and the effects of the global economic slowdown on advertising and consumer spending. The quarter's segment loss was $1.3 million versus segment income of $0.1 million last year. First quarter 2009 Playboy magazine … [Read more...] about Playboy’s cost cutting efforts help offset revenue declines