Martin Lawrence Reports Loss of $1.77 Million

Martin Lawrence Limited Editions Inc., a Van Nuys art publisher and operator of art galleries, said its first-quarter loss widened to $1.77 million from a $308,000 loss a year before.

The company’s revenue in the three months that ended March 31 was $4.74 million, down 31% from $6.84 million a year earlier.

Martin Lawrence said its revenue in the 1992 period included $1.5 million from the settlement of its legal dispute with artist Hiromichi Yamagata.

Martin Lawrence said its first-quarter results were negatively affected by the continuing weak economy and the soft art market.