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ZAPATA CORPORATION
CONSOLIDATED INCOME STATEMENT
(in thousands, except per share amounts)
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Three Months Ended
December 31,
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1994 1993
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<S> <C> <C>
Revenues $45,970 $59,539
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Expenses:
Operating 39,221 53,384
Depreciation, depletion and amortization 2,877 2,414
Selling, general and administrative 2,542 3,403
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44,640 59,201
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Operating income 1,330 338
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Other income (expense):
Interest income 353 806
Interest expense (1,449) (2,518)
Gain on sale of Tidewater common stock -- 33,852
Other 490 (6,273)
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(606) 25,867
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Income from continuing operations before
income taxes 724 26,205
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Provision for income taxes
State 120 29
Federal 211 9,161
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331 9,190
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Income from continuing operations 393 17,015
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Income from discontinued operations, net of
income taxes -- 313
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Net income 393 17,328
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Preferred stock dividends 51 101
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Net income to common stockholders $342 $17,227
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Per share data:
Income from continuing operations $0.01 $0.55
Income from discontinued operations -- 0.01
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Net income per share $0.01 $0.56
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Average common shares and equivalents
outstanding 31,785 31,001
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The accompanying notes are an integral part of the financial statements.
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