EX-99 3 exh991form8-klic0817042.txt EXH991FORM8-KLIC0817042 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 Six Months Ended Percent Percent June 30, Increase June 30, Increase -------------------------------------------------------------------------- 2004 2003 (Decrease) 2004 2003 (Decrease) -------------------------------------------------------------------------- Revenues ...................................... $ 21,631 $ 21,343 1.3% $ 43,519 $ 42,646 2.0% Cost and Expenses: Cost of service and sales ..................... 7,671 7,304 15,151 14,741 Selling, general and administration ........... 3,533 3,335 6,859 6,742 Corporate office expense ...................... 2,273 1,098 3,246 1,868 Depreciation and amortization ................. 4,927 4,913 10,148 9,828 --------- --------- ---------- --------- Operating profit, in accordance with generally. accepted accounting principles 3,227 4,693 (31.2%) 8,115 9,467 (14.3%) Other Income(Expense) Investment income ............................. 82 98 810 656 Interest expense .............................. (2,851) (2,999) (5,670) (6,025) Equity in earnings of affiliated companies .... 886 679 1,598 1,063 --------- --------- --------- --------- (1,883) (2,222) (3,262) (4,306) Income Before Income Taxes Minority Interests ..................................... 1,344 2,471 4,853 5,161 Provision For Income Taxes .................... (473) (875) (1,922) (1,951) Minority Interests ............................ (487) (440) (944) (641) --------- --------- --------- --------- Net Income .................................... $ 384 $ 1,156 $ 1,987 $ 2,569 ========= ========= ========= ========= Weighted Average Shares Used In Earnings Per Share Computations ........................ 2,774 2,787 2,775 2,789 Basic and Diluted Earnings Per Share .......... $ 0.14 $ 0.41 $ 0.72 $ 0.92 Earnings Before Interest,Taxes, Depreciation, and Amortization - see Attachment A Operating Subsidiaries ........................ 10,427 10,704 -2.6% 21,509 21,163 1.6% Corporate Office Expense ...................... (2,273) (1,098) (3,246) (1,868) --------- --------- --------- --------- Total EBITDA .................................. 8,154 9,606 -15.1% 18,263 19,295 -5.3% Depreciation and amortization ................. (4,927) (4,913) (10,148) (9,828) --------- --------- --------- --------- Operating profit, in accordance with generally. accepted accounting principles $ 3,227 $ 4,693 $ 8,115 $ 9,467 ========= ========= ========= ========= Capital Expenditures .......................... $ 3,693 $ 5,698 $ 6,307 $ 9,927 SELECTED BALANCE SHEET DATA June 30, Dec. 31, 2004 2003 ---------------------- Cash and Cash Equivalents ......................................................................... $ 25,932 $ 26,556 Total Debt ........................................................................................ 181,130 179,239 Minority Interests ................................................................................ 10,784 9,763 Shareholders' Equity .............................................................................. 32,404 29,887 Shares Outstanding at Date ........................................................................ 2,772 2,780