Quarterly Profit Up 55% at Dick Clark Productions

Dick Clark Productions, a Burbank-based television programming provider, said its profit for the third fiscal quarter that ended June 30 was $1 million, up 55% from $646,000 in the third quarter last year.

Revenues for the quarter were $23.1 million, up 23% from $18.8 million in the same period last year.

For the year, the profit was $6.5 million, up 16% from $5.6 million a year ago.

Revenue for the year was $66.1 million, down 12% from $73.8 million in 1996.

Net income for the fiscal year was higher because of increased profitability of television series production, and revenues were lower because of the nonrenewal of a talk-show series produced during fiscal 1996, the entertainment concern said.