PIA Expects Loss

PIA Merchandising Services Inc. said Thursday it expects to report a loss for the first quarter, and that operating earnings should be substantially below last year’s results for the rest of the year.

The company, which provides in-store merchandising and sales services, attributed the lower results to a drop in syndicated services. PIA Merchandising also said its president and chief operating officer, Tom Goss, resigned to pursue other opportunities and the company is currently searching for a replacement.

PIA said it expects to record a first-quarter loss of $1.1 million to $1.3 million, compared with earnings of $895,000 for the first three months last year. Revenue is expected to climb slightly to $28 million from $26 million. For the entire year, PIA posted net income of $3.8 million on revenue of $120 million.