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.

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