Due in part to delayed delivery of a primetime series and a telepic, Dick Clark Prods. Inc.’s third-quarter revenue fell 26%, the company reported Monday.
For the quarter ended March 31, the Burbank-based company reported revenue of $22.2 million, compared to $28.1 million for the same period in the previous year.
But, the good news was Dick Clark officials reported the company’s 17th consecutive profitable quarter. For the third quarter, the company reported net income of $4.464 million, compared with $4.38 million for the same period in 1996.
According to company officials, profits were up due to improved gross profit margins from certain recurring annual specials as well as increased capitalized overhead associated with production activity from shows delivered in the fourth quarter.