Martin Lawrence Reduces 3rd-Quarter Loss From ’93

Martin Lawrence Ltd. Editions Inc., a Van Nuys artwork retailer, said it narrowed its loss to $816,000 from $1.3 million for the third quarter that ended Sept. 30, compared to the same period last year. Third-quarter revenue was $4.36 million, down 6% from $4.64 million the previous year.

For the nine months, the company’s loss was $3.1 million, compared to $5.4 million in the first nine months last year. Revenue for the nine months was $12.9 million, down slightly from $13.2 million in the same period last year.

The company said its loss decreased in the third quarter due to cuts in administrative and other costs. In other news, the company said it opened its first factory outlet store in September in Milpitas, Calif., and will consider opening more factory outlets if that store proves successful.