New Restaurants Boost Earnings for Dick Clark

Dick Clark Productions Inc., the Burbank producer of television shows, said its profit tripled in the fiscal second quarter that ended Dec. 31 to $502,000 from $164,000 in the same period a year earlier. But revenue in the second quarter declined 22% to $9.87 million from $12.7 million.

For the first six months of the fiscal year, profits were down 12% to $521,000 from $595,000 in the previous year. The decline was on a 31% drop in revenue to $18.3 million for the first six months.

The company said it produced fewer television shows in the second fiscal quarter but profit margins on the shows were higher. The company also said the opening of two new restaurants in the last year helped boost earnings in the second fiscal quarter.