Dick Clark Productions Reports 4th-Quarter Loss

Dick Clark Productions, suffering from continuing softness in the television production business, said it lost $1.7 million in the fourth quarter, which ended June 30, bringing its total loss for the year to $2.4 million.

The results compare to a profit of $211,000, or 2 cents a share, for the Burbank production company in the year-earlier quarter, and a profit of $2.6 million, or 34 cents a share, for its previous fiscal year.

The company, which is headed by producer Dick Clark, said its revenue fell 13% to $4.2 million in the quarter from $4.8 million a year earlier. For the fiscal year, the company’s revenue dropped 27% to $21.2 million from $28.9 million in the previous fiscal year.

In a statement, the company cited the “oversaturated and highly competitive” market in the syndicated, or non-network, television business.

Separately, Dick Clark Productions said the 5-month-long strike from March to August by the Writers Guild of America stopped production of the company’s situation comedies, dramatic series and movies. Production resumed with the settlement of the strike last month, the company said.

The company said it is producing two new series and 14 specials during the current fiscal year.