Matthews Reports 19% Rise in Second-Quarter Profit

Matthews Studio Equipment Group, a Burbank company that rents and sells camera and lighting support equipment to the entertainment industry, said its fiscal second-quarter profit rose 19%.

In the quarter that ended March 31, Matthews earned $365,772, compared with a year-earlier profit of $308,474. Its revenue in the latest three months increased 14%, to $6.58 million from $5.79 million.

Matthews said the second-quarter results included a doubling of its rental income, which it attributed to the added equipment from its acquisition of another rental company a year ago, and to a steady increase in industry activity.

For the six months, the company's net income gained 19%, to $848,046 from earnings of $713,530 a year before. Its six-month revenue was $13.1 million, up 7% from $12.3 million.

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