<PAGE>
ZAPATA CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(IN THOUSANDS EXCEPT PER SHARE AMOUNTS)
<Table>
<Caption>
YEAR ENDED YEAR ENDED YEAR ENDED
DECEMBER 31, DECEMBER 31, DECEMBER 31,
2001 2000 1999
------------ ------------ ------------
<S> <C> <C> <C>
Revenues................................................ $98,836 $ 84,140 $ 93,666
Cost of revenues........................................ 84,682 85,044 87,510
Inventory write-down.................................... -- 18,117 18,188
------- -------- --------
Gross profit (loss)................................ 14,154 (19,021) (12,032)
Operating expenses:
Product development................................... -- 1,489 2,890
Selling, general and administrative................... 12,633 15,790 16,697
Impairment of long-lived assets....................... 232 1,307 2,267
Contract termination (settlement) expense............. (403) 779 --
------- -------- --------
Total operating expenses........................... 12,462 19,365 21,854
------- -------- --------
Operating income (loss)................................. 1,692 (38,386) (33,886)
------- -------- --------
Other income (expense):
Interest income, net.................................. 3,493 7,352 5,170
Realized loss on non-investment grade securities...... (11,841) (13,201) --
Other................................................. (151) (906) (3,219)
------- -------- --------
(8,499) (6,755) 1,951
------- -------- --------
Loss before income taxes and minority interest.......... (6,807) (45,141) (31,935)
Benefit for income taxes................................ 12,769 12,521 5,758
Minority interest in net (income) loss of consolidated
subsidiary............................................ (1,528) 6,632 5,845
------- -------- --------
Net income (loss) to common stockholders................ $ 4,434 $(25,988) $(20,332)
======= ======== ========
Net income (loss) per share (basic and diluted)......... $ 1.85 $ (10.88) $ (8.51)
======= ======== ========
Weighted average common shares outstanding.............. 2,391 2,389 2,389
======= ======== ========
</Table>
The accompanying notes are an integral part of the consolidated financial
statements.
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