HOLLYWOOD MEDIA CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (2004/05/17)- Tickets to Movies in Theaters, Broadway Shows, London Theatre & More

(Unaudited)
	Three Months Ended March 31,
	2004	2003

		(As Restated,
		See Note 1)

NET REVENUES
Ticketing	$11,878,290	$11,520,248
Other	2,906,430	3,017,438
	14,784,720	14,537,686


OPERATING EXPENSES:
Cost of revenues – ticketing	9,951,540	10,038,722
Editorial, production, development and technology (exclusive of
depreciation and amortization shown separately below)	1,188,021	1,159,735
Selling, general and administrative	4,978,313	4,709,438
Amortization of CBS advertising	–	190,023
Depreciation and amortization	530,117	639,876

Total operating expenses	16,647,991	16,737,794

Operating loss	(1,863,271)	(2,200,108)

EQUITY IN EARNINGS OF INVESTMENTS	4,694	4,405

OTHER INCOME (EXPENSE):
Interest, net	(417,955)	(340,368)
Other, net	690,561	(49,091)

Loss before minority interest	(1,585,971)	(2,585,162)

MINORITY INTEREST IN EARNINGS OF SUBSIDIARIES	(70,492)	(220,573)

Net loss	$(1,656,463)	$(2,805,735)


Basic and diluted loss per common share	$(0.07)	$(0.14)

Weighted average common and common equivalent shares
outstanding – basic and diluted	24,916,531	20,401,079


(1) Net Revenues have been reduced by $25,129, or 0.2%, in the three months ended March 31, 2003 restated condensed consolidated statement of operations as a result of an underaccrual for Broadway Ticketing gift certificates. Cost of Revenues – Ticketing has been decreased by $108,906, or 1.1%, in the three months ended March 31, 2003 restated condensed consolidated statement of operations as a result of an overaccrual for Broadway ticketing purchases. The number of weighted average shares outstanding was increased by 2,788 shares for the three months ended March 31, 2003 to include vested restricted shares.

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