Matthews Studio Equipment Profit Up 19% in 1st Quarter

Matthews Studio Equipment Group, a Burbank supplier of camera and lighting equipment to the entertainment industry, reported that its fiscal first-quarter earnings rose 19% from a year earlier while revenue remained flat.

In the three months that ended Dec. 31, Matthews had a profit of $482,000, up from $405,000 the year before. In its latest quarter revenue totaled $6.56 million, compared to $6.5 million a year before.

Matthews said the latest results included a 33% increase in rental income and a $200,000 reduction in operating expenses over the first quarter a year ago.