Profit Jumps 55% for Dick Clark Productions

Dick Clark Productions Inc. said its fiscal third-quarter profit surged 55% from a year earlier despite a 4% dip in revenue.

The Burbank-based producer of television programs said net income in the quarter ended March 31 climbed to $2.06 million from $1.33 million a year earlier, while its revenue fell to $14.7 million from $15.3 million.

During the latest quarter, Dick Clark Productions produced four major award specials for TV, including the 19th Annual American Music Awards and the 49th annual Golden Globe Awards.

For the first nine months of its fiscal year, the company’s profit rose 10%, to $2.06 million from $1.87 million a year earlier, and its nine-month revenue fell to $26.5 million from $29.5 million.