2nd-Quarter Profit Triples for Dick Clark

Dick Clark Productions Inc. said its fiscal second-quarter profit more than tripled from a year earlier, thanks to a onetime tax credit. Excluding the credit, the company’s operating results declined.

In the quarter that ended Dec. 31, the Burbank producer of television shows said net income jumped to $1.24 million from $405,000 a year earlier, because it recorded a onetime, $1.44-million gain from a tax adjustment. But its second-quarter revenue fell 20% from a year earlier, to $5.45 million from $6.82 million.

The lower revenue and operating income reflected “the absence of series production in the second quarter,” the company said. Among the shows it did produce in the period was “Dick Clark’s New Year’s Rockin’ Eve.”

For the first half of its fiscal year, Dick Clark’s profit was $1.16 million, compared with a mere $1,000 a year earlier, and its six-month revenue rose 25%, to $14.7 million from $11.8 million.