Martin Lawrence Reports Record 2nd Quarter Profit
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Martin Lawrence Limited Editions, a Van Nuys-based chain of art galleries, reported record earnings and revenue for the second quarter that ended June 30. Net income was $1.5 million, or 22 cents a share, up 102% from $755,000, or 14 cents a share, from last year’s second quarter. Revenue increased 50% to $9 million from $6 million.
The company attributed some of the increases to expansion in the last year from 13 to 22 stores.
