<PAGE>
NOTE 4. DIVISIONAL REVENUES AND OPERATING RESULTS
The Company's divisional revenues and operating results for the three
months ended December 31, 1995 and 1994 are as follows:
<TABLE>
<CAPTION>
THREE MONTHS ENDED
DECEMBER 31,
-------------------
1995 1994
------- -------
(in thousands)
<S> <C> <C>
Revenues:
Marine protein $23,466 $19,581
Oil and gas 476 2,776
------- -------
$23,942 $22,357
======= =======
Operating income (loss):
Marine protein $ 3,063 $ 734
Oil and gas (71) 410
Corporate (625) (833)
------- -------
$ 2,367 $ 311
======= =======
</TABLE>
NOTE 5. UNCONSOLIDATED AFFILIATES
The Company's financial statements for the three-month period ending
December 31, 1995 do not include Zapata's 31% equity interest in Envirodyne
Industries, Inc. ("Envirodyne") for the corresponding period. Since
Envirodyne's financial statements are not available to the Company on a timely
basis, Zapata will report its equity in Envirodyne's results of operations on a
three-month delayed basis.
NOTE 6. CASH FLOW INFORMATION
In connection with the sale of the Company's natural gas compression
operations, Zapata has retained certain liabilities related to these operations.
As a result, the Company has reclassified approximately $2.8 million from net
assets of discontinued operations to current liabilities of continuing
operations.
8
