Matthews Studio Shows Quarterly Profit Gain

Matthews Studio Equipment Group said its fiscal second-quarter net income increased 12% to $118,610 from $105,660 a year earlier. The Burbank provider of movie production equipment said its sales in the quarter ended March 31 jumped 37%, to $4.78 million from $3.49 million.

For the first half of its fiscal year, Matthews reported net income of $256,209 compared to a net loss a year before of $190,864. Matthews’ six-month sales climbed 41%, to $8.95 million from $6.37 million.

Matthews attributed about 27% of the six-month sales gain to newly acquired companies.