Matthews Studio Equipment Reports 4th-Quarter Loss

Matthews Studio Equipment Group, a Burbank supplier of camera and lighting equipment and other gear for the entertainment industry, reported losses in its fiscal fourth quarter and year ended Sept. 30 because of a one-time charge from paying off debt early.

The loss for the fourth quarter was $2.54 million, including the $2.23 million debt payment. A year earlier, Matthews lost $1.39 million. Its revenue in the fourth quarter rose 5%, to $6.44 million from $6.11 million.

Matthew’s annual loss was $2.02 million, in contrast with a loss in fiscal 1994 of $478,000. Its yearly revenue increased 8%, to $27.4 million from $25.4 million.