<PAGE>
 
                              ZAPATA CORPORATION
                   DIVISIONAL REVENUES AND OPERATING RESULTS
                                (in thousands)

<TABLE> 
<CAPTION> 

                                      Three Months Ended    Nine Months Ended
                                           June 30,              June 30,
                                      ------------------    ------------------
                                        1995      1994        1995      1994
                                      --------  --------    --------  --------
<S>                                   <C>       <C>         <C>       <C> 
  
Revenues:

Marine protein                        $ 21,737  $ 19,703    $ 61,311  $ 62,307
Natural gas gathering and processing    12,509    41,957      57,829   120,456
Oil and gas                              2,462     3,026       7,482     9,287
                                      --------  --------    --------  --------
                                      $ 36,708  $ 64,686    $126,622  $192,050
                                      ========  ========    ========  ========
Operating income (loss):

Marine protein                        $(10,428) $  2,122    $ (8,599) $  6,016
Natural gas gathering and processing       (39)     (473)       (482)     (696)
Oil and gas                                310   (18,743)        528   (18,103)
Corporate                               (1,011)   (1,424)     (2,949)   (4,660)
                                      --------  --------    --------  --------
                                      $(11,168) $(18,518)   $(11,502) $(17,443)
                                      ========  ========    ========  ========
</TABLE>

 

   The accompanying notes are an integral part of the financial statements.

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