Dick Clark Productions Reports Drop in Revenues

Dick Clark Productions, the Burbank television production company, reported a 20% drop in net income for its fiscal year that ended June 30, while its revenues also fell 20% compared to a year earlier.

The company posted a $4.09-million profit on sales of $46.65 million in its latest fiscal year, compared to a record profit of $5.14 million on sales of $58.3 million in fiscal year 1994.

In the fourth quarter, Dick Clark Production’s net income climbed 28% to $643,000 compared to a $502,000 profit in the same period a year earlier. Sales in the latest quarter fell 2% to $12.14 million, from $12.42 million a year ago.

Despite the drop in profit for the full year, company president Francis La Maina noted that it was the company’s second-best profit year, and said the profit decline was due in part to a smaller number of TV specials the company produced in the past year.