It's time Ol' Dicky steps up to the plate..I'll bet he would like to see TSIG do an NMF auction site. read below.
( EW)(CA-DICK-CLARK/EARNINGS)(DCPI) dick clark productions Reports Financial Results for the Third Quarter of Fiscal 1999; 5 Percent Stock Dividend Announced
Business & Entertainment Editors
BURBANK, Calif.--(ENTERTAINMENT WIRE)--May 11, 1999--dick clark productions inc. (Nasdaq:DCPI) reported financial results for the third quarter and first nine months of fiscal 1999, ended March 31, 1999.
For the third quarter ended March 31, 1999, revenue was $28,747,000 and net income was $4,168,000, or 45 cents per basic share. This compares with revenue of $36,247,000 and net income of $5,706,000, or 62 cents per basic share, for the comparable quarter in fiscal 1998, which was the company's record-setting quarter.
For the first nine months of fiscal 1999, revenue was $58,276,000 and net income was $5,081,000, or 55 cents per basic share. This compares with revenue of $63,673,000 and net income of $6,558,000, or 71 cents per basic share, for the comparable period in fiscal 1998.
Revenue and net income decreased in the third quarter compared with the third quarter of fiscal 1998 primarily due to lower revenues and profitability from television series production, as well as a decrease in restaurant revenues and net income. The decreases were offset somewhat by increased revenues and profitability from corporate communications.
"We are confident of the continuing strength of the company's operations and optimistic for the future," said Francis C. La Maina, president and chief operating officer. "Recognizing this, the board of directors has authorized a 5 percent common stock dividend to share value with our stockholders."
The 5 percent stock dividend is payable on June 11, 1999, to stockholders of record on May 21, 1999. Share data have been adjusted to reflect the stock dividend for all periods reported.
Production activity during the third quarter included delivery of the final five episodes of the third season of "Beyond Belief: Fact or Fiction" to Fox; clearance of the new series "Your Big Break," for broadcast syndication beginning in September 1999 by Buena Vista Television; three major television awards specials; and in the communications area, a special anniversary event for Mattel.
dick clark restaurants inc., the company's subsidiary, continued development of its new "diner-style" concept, tailored for high-traffic entertainment complexes, with the opening of the first "Dick Clark's AB Diner(sm)" planned in Schaumburg, Ill., in summer 1999. The subsidiary also is pursuing sites in North Carolina, Texas and Michigan.
dick clark productions is a leading independent producer of a wide range of television programming for broadcast networks, cable networks, distributors and advertisers, as well as a leading creator of award-winning communications experiences from live events and meetings to integrated marketing programs for major corporations.
dick clark restaurants, a subsidiary, operates "Dick Clark's American Bandstand Grill(r)" and "Dick Clark's AB Diner(sm)," a growing group of casual-dining restaurants now in eight cities.
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