Dick Clark Productions Sees 2nd-Quarter Plunge

Dick Clark Productions Inc. said its fiscal second-quarter net income plunged 87%, even though its revenue more than doubled compared with the same period a year ago.

In the quarter that ended Dec. 31, the Burbank producer of television shows reported net income of $164,000, down from $1.2 million in 1992’s fiscal second quarter. Revenue surged to $12.7 million from $5.4 million, however.

For the six months, the company’s net income fell 49% to $595,000 from $1.2 million in last year’s first half. Revenue rose 80% to $26.4 million from $14.7 million in the year-earlier period.