Dick Clark Productions’ Net Income Drops 52%

Dick Clark Productions Inc. reported that its net income for the three months that ended Dec. 31 fell 52% to $356,000 from $738,000 a year earlier. Revenues at the Burbank television production company increased 7% to $7.32 million from $6.86 million a year before.

For the six months that ended Dec. 31, net income fell 68% to $370,000 from $1.17 million a year before. Revenues increased 23% to $14.18 million from $11.52 million for the year-ago period.

Dick Clark attributed the decrease in profits to a decline in the company’s production of television shows.

But the company said it had received commitments calling for it to produce two game shows in 1990. Dick Clark also said it had commitments to produce 10 additional specials during the current fiscal year, which will end June 30.