Matthews Reports Sliding Profits in 1st Quarter

Matthews Studio Equipment Group, a Burbank supplier of grip, camera and lighting support equipment for the entertainment industry, said its fiscal first-quarter profit slid 39% because of a less favorable mix of products and services and higher interest expense.

In the three months that ended Dec. 31, Matthews earned $292,000 on revenue of $6.7 million. A year before, it had $482,000 in net income on $6.56 million in revenue.