Dick Clark Reports Drop in 1st Quarter Revenue

Dick Clark Productions Inc., a Burbank-based television production company, reported a steep slide in earnings in its fiscal first quarter that ended Sept. 30.

The company posted a $19,000 profit in the quarter, compared to year-earlier earnings of $431,000. Revenues fell 38% to $8.45 million, compared to revenues of $13.7 million in the first quarter of 1993.

The company said the decline in revenue was due to a decrease in television production activity, and a decrease in the number of projects handled by the company’s corporate events subsidiary. These losses were partially offset, the company said, by an increase in revenues and profits from the company’s “Dick Clark’s American Bandstand Grill” restaurant chain.