EX-99 3 exh991lic8k051404.txt EXH991LIC8K051404 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 Percent March 31, Increase ---------------------- 2004 2003 (Decrease) --------------------------------------- Revenues $21,888 $21,303 2.7% Cost and Expenses: Cost of service and sales 7,480 7,437 Selling, general and administration 3,326 3,407 Corporate office expense 973 770 Depreciation and amortization 5,221 4,915 ----------------- Operating profit, in accordance with generally accepted accounting principles 4,888 4,774 2.4% Other Income(Expense) Investment income 728 558 Interest expense (2,819) (3,026) Equity in earnings of affliated companies 712 384 ------------------ (1,379) (2,084) ------------------- Income (Loss) Before Income Taxes Minority Interests 3,509 2,690 (Provision) Benefit For Income Taxes (1,449) (1,076) Minority Interests (457) (201) ------------------- Net Income (Loss) $1,603 $1,413 =================== Weighted Average Shares Used In Earnings Per Share Computations 2,777 2,791 Basic and Diluted Earnings Per Share $0.58 $0.51 Earnings Before Interest,Taxes, Depreciation, and Amortization - see Attachment A Operating Subsidiaries 11,082 10,459 6.0% Corporate Office Expense (973) (770) ------------------ Total EBITDA 10,109 9,689 4.3% Depreciation and amortization (5,221) (4,915) ------------------ Operating profit, in accordance with generally accepted accounting principles $4,888 $4,774 ================== Capital Expenditures $2,614 $4,229

SELECTED BALANCE SHEET DATA

Mar. 31, Dec. 31, 2004 2003 ------- -------- Cash and Cash Equivalents $29,572 $26,556 Long-Term Debt 173,459 175,783 Minority Interests 10,297 9,763 Shareholders' Equity 31,919 29,887 Shares Outstanding at Date 2,775 2,780