Matthews Group Profit Plummets in Quarter

Matthews Studio Equipment Group, a Burbank company that makes, sells and rents film and television production equipment, reported that its profit plunged in the latest quarter because of a lower level of production activity during the holidays.

In its fiscal first quarter ended Dec. 31, Matthews earned $129,032, down 71% from $448,829 a year earlier. Its revenues fell 20% to $5.36 million from $6.68 million.