PIA Merchandising Posts Loss After Restructuring

PIA Merchandising Services Inc. posted a third-quarter loss on a slight increase in revenue.

The supplier of merchandising services reported a net loss of $5.5 million, or $1.01 a share, which included a $6-million charge for restructuring and other costs. For the third quarter last year, net income totaled $1.3 million, or 21 cents a share. Revenue was up 1% to $34 million from $33.6 million. The nine-month net loss was $8.6 million, or $1.53 a share, contrasted with profit of $2.4 million, or 41 cents a share, for the prior-year period. Revenue increased 10% to $95 million from $86.7 million.