4th-Quarter Earnings Fall at Dick Clark Productions
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Dick Clark Productions Inc., a Burbank-based producer of movies, series and specials for TV, reported net income of $522,000 for the fiscal fourth quarter that ended June 30, a 49% decline from $1.02 million in earnings a year earlier. Revenues rose 43% to $7.7 million from $5.4 million.
For the year, Dick Clark Productions’ earnings plunged 48% to $1.4 million from $2.6 million a year before. Revenues were $30.3 million, an 18% gain from $25.6 million in fiscal 1989.
The company said the drop in net income in its latest fiscal year reflects lower TV series profits.
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