Bishop Inc. Reports Loss of $2.21 Million in Quarter

Bishop Inc., a Westlake Village maker of engineering and design products, said restructuring efforts led to a $2.21 million loss in its fiscal third quarter, compared with a $148,000 loss a year earlier.

The loss for the quarter ended June 30 included $2.04 million in one-time restructuring costs, and came on a 15% gain in revenue to $2.56 million from $2.23 million.

Under the restructuring, Bishop, among other things, has cut back its work force, moved some operations to “more efficient and cost-effective facilities” and canceled “non-essential” programs and spending. The program is aimed at cutting costs and shifting Bishop’s marketing efforts to markets with strong growth prospects, the company said.

For the first nine months of its fiscal year, Bishop lost $2.71 million compared with a year-earlier loss of $290,000. The company’s nine-month revenue rose to $7.74 million from $7.41 million.