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Penthouse did in fact adapt to the internet. In 2002 they had a average monthly net for their internet division of over $600,000 per month. In 2003 that number declined to about $500,000 per month. Despite not having an affiliate program, I would say that doing those kinds of numbers they adapted quite well. Who knows if they are doing that well anymore, since they went to the Pink Sheets, they havent reported income through their SEC filings. I do know that the guy who came to these boards, Mike, is no longer with the company and he held the top spot in the division. I wonder where he went to. Perhaps he is still around lurking.
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