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HOLLYWOOD MEDIA CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS

(Unaudited)
Year Ended December 31,
Three Months Ended December 31,
2002
2001
2002
2001
NET REVENUES

 $58,237,271
 $50,154,801

 $15,987,523
 $12,781,443
COST OF REVENUES

  41,057,261
  32,320,649

11,753,169
  8,417,970
Gross margin
  17,180,010
  17,834,152
  4,234,354
  4,363,473
OPERATING EXPENSES:
General and administrative

  7,626,933
  6,994,030

  2,632,799
  2,352,389
Selling and marketing

  2,027,162
  4,348,183

  340,863
  1,184,475
Salaries and benefits

  13,006,568
  12,428,304

  3,571,504
  3,093,009
Deferred Compensation
  2,174,368
  106,220
  463,927
  106,220
Amortization of CBS
advertising

  11,251,566
  27,822,802

  315,071
13,250,967
Impairment loss – CBS advertising

  57,274,680
Write-off of prepaid
trade credits

  655,500
Depreciation and amortization

  3,074,614
  8,886,350

  649,119
  2,258,754
  Total operating expenses
  97,091,391
  60,585,889
  7,973,283
22,245,814
  Operating loss
(79,911,381)
(42,751,737)
(3,738,929)
(17,882,341)
EQUITY  IN EARNINGS
– INVESTMENTS

  550,238
  1,470,392

  182,641
  571,332
OTHER INCOME (EXPENSE):
Interest, net

(1,272,880)
(144,289)

(420,522)
  37,177
Other, net

(250,564)
(94,403)

(257,599)
  53,193
Loss before minority interest
(80,884,587)
(41,520,037)
(4,234,409)
(17,220,639)
MINORITY INTEREST
(665,529)
(309,868)
  (69,861)
  (43,197)
NET LOSS 
 $(81,550,116)
 $(41,829,905)
 $(4,304,270)
 $(17,263,836)
Basic and diluted net loss per common
share
 $(3.18)
 $(1.61)
 $(0.21)
 $(0.63)
Weighted average shares outstanding
  25,679,706
  26,056,911
20,207,407
27,273,889
HOLLYWOOD
MEDIA REPORTS FOURTH QUARTER AND FULL YEAR 2002 FINANCIAL RESULTS
CONSOLIDATED BALANCE SHEETS
CONDENSED
CONSOLIDATED STATEMENT OF OPERATIONS
CONSOLIDATED STATEMENTS OF CASH FLOWS
Business
Segment Financial Information – non-GAAP
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