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MATTHEWS STUDIO EQUIPMENT GROUP REPORTS SECOND QUARTER AND SIX MONTH RESULTS

 BURBANK, Calif., April 30 /PRNewswire/ -- Matthews Studio Equipment Group (NASDAQ-NMS: MATT) today announced financial results for the second quarter and six months ended March 31, 1993.
 For the six months ended March 31, 1993, the company reported revenues of $11,266,000, a 7 percent decrease from the $12,070,000 reported in the first six months of fiscal 1992. Net income for the six-month period ended March 31, 1993, increased 52 percent to $856,000, or $0.10 per share, from $565,000, or $0.07 per share, recorded for the six months ended March 31, 1992. Revenues for the quarter ended March 31, 1993, were $5,672,000, as compared to $6,707,000 for the same quarter of fiscal 1992, a decrease of 15 percent. Net income for the three-month period ended March 31, 1993, decreased 17 percent to $364,000, or $0.04 per share, from $436,000, or $0.05 per share, in the comparable period last year.
 The average number of shares outstanding for the first six months of fiscal 1993 was 8,987,000, compared to 8,538,000 outstanding for the first half of fiscal 1992.
 Matthews designs, manufactures, sells and rents grip camera support, lighting support and other equipment and accessories for the film, television, commercial photography and theatrical production industries. In addition, the company designs, manufactures and rents electronic Cam-Remote Systems.
 MATTHEWS STUDIO EQUIPMENT GROUP
 Summary Income Data
 (Amounts in thousands, except per share data)
 Three Months Ended Six Months Ended
 March 31, March 31,
 1993 1992 1993 1992
 Total revenues $5,672 $6,707 $11,266 $12,070
 Income before
 income taxes 599 734 1,430 944
 Net income 364 436 856 565
 Net income per share $0.04 $0.05 $0.10 $0.07
 Average number of
 shares outstanding 9,008 8,592 8,987 8,538
 -0- 4/30/93
 /CONTACT: Gregory Moiseeff or Neil Kaplan of Matthews Studio Equipment, 818-843-6715/
 (MATT)


CO: Matthews Studio Equipment Group ST: California IN: ENT SU: ERN

MS-JL -- LA004 -- 3045 04/30/93 08:30 EDT
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Date:Apr 30, 1993
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