Dick Clark sees record 30% jump in revs for ’98

Increased TV prod'n, eatery expansion drives numbers

Dick Clark Prods. Inc. on Wednesday reported a record 30% jump in revenues and 26% increase in net income for fiscal year 1998.

Revenues during fiscal 1998, ended June 30, rose to $86.3 million, compared with $66 million in fiscal 1997, while net income rocketed to $8 million, compared with $6.5 million a year ago.

Higher fourth quarter earnings also marked the Burbank-based company’s 22nd consecutive profitable quarter.

Revenue was down slightly to $22.6 million compared with $23 million during fourth quarter 1997. Net income was $1.7 million compared with $1 million (or $0.12) per share a year ago.

The company attributes the boost in earnings to an increase in series television production and the expansion of its Dick Clark’s American Bandstand Grill eateries.

“The company’s diversification strategy — both within television production and in allied areas — enabled record revenue and profitability in fiscal 1998,” said Francis C. La Maina, Dick Clark Prods.’ president and chief operating officer.

Dick Clark Prods. produces a range of television programming for broadcast and cable networks, distributors and advertisers, including awards and entertainment specials, Fox’s “Beyond Belief: Fact or Fiction” and nine “Bloopers” specials for NBC, among others.

More Biz

  • Ajit Pai Free Speech

    State Attorneys General File Suit Over FCC's Net Neutrality Repeal

    Dick Clark Prods. Inc. on Wednesday reported a record 30% jump in revenues and 26% increase in net income for fiscal year 1998. Revenues during fiscal 1998, ended June 30, rose to $86.3 million, compared with $66 million in fiscal 1997, while net income rocketed to $8 million, compared with $6.5 million a year ago. […]

  • Miramax Parent Company Enters Fray for

    Miramax Parent Company Enters Fray for Weinstein Co.

    Dick Clark Prods. Inc. on Wednesday reported a record 30% jump in revenues and 26% increase in net income for fiscal year 1998. Revenues during fiscal 1998, ended June 30, rose to $86.3 million, compared with $66 million in fiscal 1997, while net income rocketed to $8 million, compared with $6.5 million a year ago. […]

  • Alec Baldwin Woody Allen

    Alec Baldwin Criticizes Stars Denouncing Woody Allen: 'It's Unfair and Sad'

    Dick Clark Prods. Inc. on Wednesday reported a record 30% jump in revenues and 26% increase in net income for fiscal year 1998. Revenues during fiscal 1998, ended June 30, rose to $86.3 million, compared with $66 million in fiscal 1997, while net income rocketed to $8 million, compared with $6.5 million a year ago. […]

  • U.S. Capitol

    Senate Democrats Close to Majority on Vote to Restore Net Neutrality Rules

    Dick Clark Prods. Inc. on Wednesday reported a record 30% jump in revenues and 26% increase in net income for fiscal year 1998. Revenues during fiscal 1998, ended June 30, rose to $86.3 million, compared with $66 million in fiscal 1997, while net income rocketed to $8 million, compared with $6.5 million a year ago. […]

  • Upright Citizens Brigade Marches in to

    Upright Citizens Brigade Marches in to Help Madison Avenue

    Dick Clark Prods. Inc. on Wednesday reported a record 30% jump in revenues and 26% increase in net income for fiscal year 1998. Revenues during fiscal 1998, ended June 30, rose to $86.3 million, compared with $66 million in fiscal 1997, while net income rocketed to $8 million, compared with $6.5 million a year ago. […]

  • Pete Ganbarg

    Atlantic Records Names Pete Ganbarg President of A&R

    Dick Clark Prods. Inc. on Wednesday reported a record 30% jump in revenues and 26% increase in net income for fiscal year 1998. Revenues during fiscal 1998, ended June 30, rose to $86.3 million, compared with $66 million in fiscal 1997, while net income rocketed to $8 million, compared with $6.5 million a year ago. […]

More From Our Brands

Access exclusive content