<PAGE>
SELECTED FINANCIAL DATA
The following table sets forth certain selected financial information for the
periods presented and should be read in conjunction with the Consolidated
Financial Statements of the Company and the related notes thereto and with
"Management's Discussion and Analysis of Financial Condition and Results of
Operations" included in the Company's Form 10-K for the fiscal year ended
September 30, 1994. The selected financial information contained herein has
been restated to reflect the Company's marine protein operations as a continued
operation as a result of the Company's decision to retain these operations. The
Company's Form 10-K for the fiscal year ended September 30, 1994 reflected the
marine protein operations as a discontinued operation. In connection with a
restructuring consummated in 1990 and effective as of October 1, 1990, the
Company implemented, for accounting purposes, a "quasi-reorganization," an
elective accounting procedure that permits a company which has emerged from
financial difficulty to restate its accounts and establish a fresh start in an
accounting sense. The Company's financial statements were restated in 1990 to
reflect the Company's offshore drilling operations as a discontinued operation.
<TABLE>
<CAPTION>
NINE MONTHS FISCAL YEAR ENDED SEPTEMBER 30,
ENDED ----------------------------------------------------------
JUNE 30, 1995 1994 1993 1992 1991 1990
----------------- ------ ------ ------ ------ ------
(IN THOUSANDS, UNAUDITED, EXCEPT PER SHARE AMOUNTS)
BEFORE QUASI-
AFTER QUASI-REORGANIZATION REORGANIZATION
---------------------------------------------- --------------
<S> <C> <C> <C> <C> <C> <C>
INCOME STATEMENT DATA:
Revenues $126,622 $ 337,826 (2) $265,045(2) $106,413 $93,410 $ 91,781
Operating income (loss) (11,502)(1) (24,700)(3) 3,006 10,901 3,063 (8,111)
Income (loss) from
continuing operations (5,223) 578 (4) 9,373(5) 2,431 2,087 (34,383)
Per common share income
(loss) from continuing
operations (0.17) 0.01 0.07 0.02 0.01 (1.09)
Cash dividends paid --- 1,566 2,933 ---- ---- ----
Common Stock dividends
declared, per share --- 0.07 ---- ---- ---- ----
CASH FLOW DATA:
Capital expenditures 6,844 28,251 4,569 11,595 8,730 5,341
</TABLE>
_________________________________
(1) Includes a $12.6 million provision for asset impairment of the Company's
marine protein assets,
(2) Includes $156.1 million and $186.3 million revenues in 1994 and 1993,
respectively, from Cimarron, which was acquired during the first quarter of
fiscal 1993. (After $157.2 million and $186.8 million in expenses in 1994
and 1993, respectively, Cimarron incurred operating losses of $1.1 million
and $552,000 in 1994 and 1993, respectively.)
(3) Includes a $29.2 million oil and gas valuation provision.
(4) Includes a $37.5 million pretax gain from the sale of 4.1 million shares of
common stock of Tidewater Inc. and expenses of $7.4 million related to the
prepayment of indebtedness due to Norex America, Inc.
(5) Includes a $32.9 million pretax gain from the sale of 3.5 million shares of
Tidewater Inc. common stock, a $6.4 million prepayment penalty in connection
with a senior debt refinancing and a $5.7 million pretax loss resulting from
the disposition of the Company's investment in Arethusa (Offshore) Limited.
20
