PIA Slows Slide in Fourth Quarter

PIA Merchandising Services Inc., Irvine supplier of merchandising services, narrowed its losses in the fourth quarter, as revenue declined 30%.

The company said it lost $2.9 million, or 54 cents a share, compared with a net loss of $6.5 million, or $1.21 a share, for the same period last year. Revenue for the quarter ended Jan. 1 declined to $23.3 million from $33.2 million.

For the year, the company posted a net loss of $4.3 million, or 78 cents a share, compared with a net loss of $15.1 million, or $2.72 a share, for the prior year. Revenue was down 5% to $121.8 million from $128.2 million.

On March 1, PIA and SPAR Group, with headquarters in Tarrytown, N.Y., announced they have agreed to merge.