Matthews Studio Profit Triples In 1st Quarter

Matthews Studio Equipment Group, a Burbank provider of production equipment to the entertainment industry, said its fiscal first-quarter profit more than tripled from a year earlier on a 60% gain in revenue.

In the quarter that ended Dec. 31, Matthews said its net income jumped to $449,000 from $138,000 a year earlier, and its revenue rose to $6.68 million from $4.17 million. The company attributed the gains to increased equipment rentals.