4th-qtr. revenue climbs 95% to $27.5 mil
HOLLYWOOD — A strong fourth quarter for its TV productions, including a telecast of the 27th annual daytime Emmys, helped Dick Clark Prods. get back into the black for the period and also post a 278% improvement in fiscal-year profit.
In results reported Wednesday, the Burbank, Calif.-based company saw quarterly net income of $3.3 million in three months ended June 30, compared with a loss of $2.3 million in the same period of the previous fiscal year.
Fourth-quarter revenue climbed 95% to $27.5 million. The company posted a 12-month net income of $10.4 million, compared with $2.8 million in fiscal 1999. Its annual revenue rose 28% to $92.2 million.
“The company’s record results in fiscal 2000 were due to the outstanding performance of our television production division and excellent progress by the business communications unit,” president Francis La Maina said. “Our focus on the development of series programming over recent years also contributed to these results.”
In addition to its TV productions, Dick Clark is also active in staging corporate meetings and other live events, and operates a chain of music-themed restaurants.
Dick Clark-produced TV specials in the period include a show tied to the 25th anniversary of Arista Records and another linked to an academic tournament honoring student excellence.
In series television, the company received a 22-episode commitment for the renewal of musical talent syndie “Your Big Break,” from Endemol Entertainment.