Martin Lawrence Earnings Rise 10% for Period

Martin Lawrence Limited Editions Inc. said its earnings rose 10% in the fourth quarter that ended Dec. 31, to $1.8 million from $1.6 million a year earlier. Revenues for the Van Nuys operator of art galleries increased to $13.2 million from $9.2 million, a 43% gain.

The company, which sells art on both retail and wholesale levels, attributed the growth in earnings to strong retail sales at its art galleries and the opening of 11 new galleries during 1989.

For the year that ended Dec. 31, Martin Lawrence reported net income of $7.4 million, up 27% from $5.8 million in the previous year. Revenues totaled $48.8 million, a 40% gain from $34.8 million the year before.