4th-Quarter Results Soar for Martin Lawrence of Van Nuys

Martin Lawrence Ltd. said its fourth-quarter profit more than quadrupled and its revenue more than doubled from a year earlier.

For the three months ended Dec. 31, the company reported its net income was $936,000, or 14 cents a share, contrasted with $214,000, or 5 cents a share, a year earlier. Revenue in the quarter was $6.7 million, up from $2.8 million a year earlier.

The Van Nuys-based chain of art galleries attributed its improved results partly to the nine stores it opened in 1987.

For the year ended Dec. 31, the company reported a profit of $3.0 million, or 50 cents a share, contrasted with $861,000, or 20 cents a share, a year before. Revenue was $23.2 million, compared to $10.2 million a year earlier.