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Thursday, September 06, 2001

NRM quarterly losses grow

National Record Mart Inc. keeps churning out the numbers, even though the Carnegie music retailer in Chapter 11 bankruptcy reorganization hasn't been able to get its financials audited. The chain posted a first-quarter loss of $6.5 million, or $1.29 per diluted share, vs. a loss of $4.2 million, or 83 cents, a year ago. Sales fell 31.8 percent to $20.6 million. Officials blamed the drop on the closing of 47 underperforming stores as well as a 23.6 percent drop in sales at stores open at least a year.

Maya Viz casts an energy net

Maya Viz, the South Side company that makes visual communication software, said yesterday it had opened its first branch office in Dallas. The new office will pursue clients in the energy industry. Maya Viz's software, Comotion, could "help groups of employees dispersed across office buildings, offshore oil rigs and field sites all over the world act quickly and collectively on large amounts of data," said Chief Executive Officer Steve Roth. The company's software overlays complex data with simpler visual images that can be viewed and altered over the Web.

Doles to address CPA event

Bob Dole, the Republican nominee for president in 1996, and his wife Elizabeth, former president of the American Red Cross, will be the featured speakers at the Pennsylvania Institute of Certified Public Accountants 24th annual Distinguished Lecturer Banquet on Oct. 4 in Pittsburgh. The event, which is sponsored by the Pittsburgh chapter of the PICPA, will be held at 6 p.m. at the Pittsburgh Hilton and Towers. For information call 412-261-6966.

Also in business ...

US Airways said its August load factor -- the percentage of seats filled with paying passengers -- rose 0.7 of a point from a year ago to 76.1 percent as a 5 percent increase in available seats was more than offset by a 6 percent increase in passenger traffic ... Mellon Financial Corp. agreed to buy Eagle Investment Systems Corp., a Newton, Mass.-based developer of Web-based investment management software, for an undisclosed amount of stock and cash ... American Eagle Outfitters said same-store sales for August rose 2.1 percent vs. a year ago. Sales increased 25.6 percent to $151.8 million and include sales from Bluenotes/Thriftys stores in Canada ... H.J. Heinz Co. said its new NawSomes! longer-lasting snack for dogs is "selling off the shelves at a record pace," claiming 10.8 percent of the $300 million soft and chewy pet snack segment for the four weeks ended Aug. 18 ... National City Bank launched NCautochannel.com, the first bank-sponsored online automotive shopping site ... Union Apparel Inc. said it laid off temporarily 69 employees at its plant in Norvelt. About 23 workers remain on the job ... Fisher Scientific International Inc. agreed to buy Cole-Parmer Instrument Co. for $205 million in cash.