Kushner-Locke profits off

Kushner-Locke Co.'s first-quarter profit fell sharply, primarily due to an increase in interest expense and lower margins, according to company officials.

For the first quarter ended Dec. 31, 1996, the Los Angeles-based independent producer and distributor reported a profit of $160,000, compared with $1 million for the same period the previous year. The company's drop in operating profit, however, was less steep, falling 29% from $1.4 million, compared with $1.9 million for the same period in 1995.

Kushner-Locke's first-quarter revenue rose 3% to $16.5 million, compared with $16.1 million for the same period the previous year