EX-99 3 exh991lic8k111604.txt EXH991LICFORM8K111604 Lynch Interactive Corporation Attachment B Statements of Operations and Selected Balance Sheet Data Unaudited (In Thousands, Except Per Share Data) STATEMENTS OF OPERATIONS

Three Months Ended Nine Months Ended September 30, Percent September 30, Percent ------------------ Increase -------------------- Increase 2004 2003 (Decrease) 2004 2003 (Decrease) --------------------------------- ---------------------------------- Revenues ......................................... $ 23,110 $ 22,082 4.7% $ 66,142 $ 64,293 2.9% Cost and Expenses: Cost of revenues ................................. 7,409 7,501 22,073 21,807 General and administrative costs at operations ... 3,648 3,413 10,507 10,155 Corporate office expense ......................... 1,743 795 4,989 2,663 Depreciation and amortization .................... 5,223 4,994 15,371 14,822 ----------------------- --------------------- Operating profit, in accordance with generally accepted accounting principles.................... 5,087 5,379 (5.4%) 13,202 14,846 (11.1%) Other Income(Expense) Investment income ................................ 88 83 898 739 Interest expense ................................. (2,847) (2,995) (8,517) (9,020) Equity in earnings of affliated companies ........ 1,051 530 2,649 1,593 ----------------------- -------------------- (1,708) (2,382) (4,970) (6,688) ----------------------- -------------------- Income (Loss) Before Income Taxes Minority Interests ........................................ 3,379 2,997 8,232 8,158 (Provision) Benefit For Income Taxes ............. (1,203) (1,158) (3,125) (3,109) Minority Interests ............................... (634) (407) (1,578) (1,048) ----------------------- ---------------------- Net Income (Loss) .............................. $ 1,542 $ 1,432 $ 3,529 $ 4,001 ======================= ====================== Weighted Average Shares Used In Earnings Per Share Computations ........................... 2,768 2,782 2,773 2,787 Basic and Diluted Earnings Per Share ............. $ 0.56 $ 0.51 $ 1.27 $ 1.44 Earnings Before Interest,Taxes, Depreciation, and Amortization - see Attachment A Operating Subsidiaries ........................... 12,053 11,168 7.9% 33,562 32,331 3.8% Corporate Office Expense ......................... (1,743) (795) (4,989) (2,663) Total EBITDA ................................... 10,310 10,373 -0.6% 28,573 29,668 -3.7% Depreciation and amortization .................... (5,223) (4,994) (15,371) (14,822) Operating profit, in accordance with generally accepted accounting principles.................. $ 5,087 $ 5,379 $ 13,202 $ 14,846 ========= ========= ========= ========= Capital Expenditures ............................. $ 4,059 $ 4,774 $ 10,366 $ 14,701 SELECTED BALANCE SHEET DATA September 30, Dec. 31, September 30, 2004 2003 2003 ---------------------------------------- Cash and Cash Equivalents ......................... $ 27,592 $ 26,556 $ 27,409 Long-Term Debt .................................... 171,427 175,783 177,619 Miinority Interests ............................... 11,418 9,763 9,653 Shareholders' Equity .............................. 33,735 29,887 26,453 Shares Outstanding at Date ........................ 2,764 2,780 2,782