Martin Lawrence Loss Hits $2.26 Million in 2nd Quarter

Martin Lawrence Limited Editions Inc., a Van Nuys operator of art galleries, said its net loss widened in the second quarter to $2.26 million on a 43% decrease in revenue.

The company, suffering from steep declines in art prices and the sagging economy, said its loss in the three months that ended June 30 compared with a loss of $654,000 a year earlier. Revenue in the latest quarter fell to $3.72 million from $6.54 million in 1992’s second quarter.

Martin Lawrence said its six-month net loss widened to $4.03 million from $962,000 for the first half of 1992. Revenue fell 29% in the first six months of 1993 to $8.32 million from $11.77 million a year earlier.