Quarterly Earnings Drop at Dick Clark Productions

Dick Clark Productions Inc., a Burbank television production company, said its earnings in its fourth fiscal quarter that ended June 30 were $502,000, down 44% from $900,000 in the fiscal fourth quarter of 1993. Revenues for the quarter were $12.4 million, down 19% from $15.4 million the previous year.

For the year, earnings were $5.1 million, up 59% from $3.2 million in 1993. Revenues were $58.3 million, up 34% from $43.4 million a year earlier.

The company attributed the lower fourth-quarter results to a decline in its television and corporate production business. Th dip was partly offset by gains in its restaurant sales stemming from the opening of two new American Bandstand Grill restaurants in the Midwest during the fourth quarter.