Art Sales Company Reports $960,000 1st-Quarter Loss

Martin Lawrence Limited Editions Inc., a Van Nuys-based retailer and wholesaler of artworks, said its loss widened in the first quarter that ended March 31 to $960,000 from a loss of $599,000 in the first quarter last year. Revenues for the quarter decreased 8% to $4.33 million from $4.68 million a year earlier.

The company said the loss widened because a one-time payment last year of more than $1 million in earthquake recovery payments cushioned that first-quarter loss, but did not recur this year.