Martin Lawrence’s Losses Mount in 1st Quarter

Martin Lawrence Limited Editions Inc., the long struggling Van Nuys art company, posted a wider loss in its first quarter, despite a 27% rise in revenues.

The company, which operates a chain of art galleries, posted a net loss of $1.2 million in the quarter that ended March 31, compared to a loss of $927,000 a year earlier. Total revenue in the latest quarter was $5.5 million, up from $4.3 million last year.

Since March, the company has reduced its corporate headquarters staff by 15% to help cut costs.