Matthews grips profit hike

Matthews Studio Equipment Group’s second-quarter revenue and profit both jumped considerably, the company reported Tuesday.

For the quarter ended March 31, the Burbank-based supplier of lighting and grip equipment reported revenue increased 59% to $10.8 million, compared with $6.8 million for the same period the previous year.

Matthews’ second-quarter profit rose to $519,000, compared with $117,000 for the same period in 1996. The company’s second-quarter earnings before interest, taxes, depreciation and amortization was $2.3 million, compared with $1.4 million last year.

Matthews’ stock closed Tuesday at $3.22, up 9¢ in Nasdaq trading.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Scene News from Variety

Loading