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HOLLYWOOD MEDIA CORP. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(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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