P&G revises ad agency use

Consolidation in the advertising industry has spurred Procter & Gamble Co. to realign all of its agency relationships, the company announced Friday.

Virtually all P&G brands will now be sending their creative work to either Publicis Groupe or Grey Global Group. A large acquisition by Publicis earlier this year "presented a timely opportunity" for P&G to realign the agency assignments, getting more attention at two large agency groups, global marketing officer Jim Stengel said.

CECO earnings lower for quarter

CECO Environmental Corp., parent of Cincinnati's Kirk & Blum and kbd/Technic, reported lower earnings and revenues for the third quarter.

For the three months ended Sept. 30, the air pollution control company said net income was $61,000, or a penny a share, versus net income of $190,000, or 2 cents a share, a year ago.

Revenues declined to $19.6 million from $24.3 million a year ago.

Mycom Group reports loss

Mycom Group, a Cincinnati technology company, said Friday that a major writedown of assets left it $2.2 million in the red last quarter.

Mycom said its consulting business has been losing money, forcing the company to revalue the business and post a $2.1 million third-quarter writedown. The company said the move was done to comply with the new Financial Accounting Standard 142, which requires companies to restate the value of their assets to market conditions.

Mycom said its third-quarter revenue of $1.9 million represented a 26 percent drop from the same period last year.

- From staff reports