Film Equipment Firm Has $1.65 Million Yearly Profit

Matthews Studio Equipment Group, a Burbank company that makes, sells and rents equipment for the film and television industries, said its profit for the fiscal year that ended Sept. 30 jumped nearly fourfold to $1.65 million from $455,862 last year.

Revenues for the year rose 21% to $24.03 million from $19.9 million a year earlier.

Gregory Moiseeff, head of investor relations for Matthews, said last year’s earnings were affected by costs from the acquisition of Hollywood Rental Co., a rental subsidiary, as well as expenses related to Matthews’ initial public offering of stock in August, 1989.