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Zapata revenue increases 204 percent over last year

Zapata Corp.’s third-quarter revenue increased 204 percent over a year ago, the company reported Friday.
Consolidated net income was $784,000, or 32 cents a share, on revenues of $97.7 million for the three-month period, compared to a consolidated net loss of $2.3 million, or 97 cents a share, on revenues of $32.2 million a year ago.
The increase was primarily the result of consolidating the results of Safety Components International Inc. for the current period and increased revenues at Omega Protein Corp., company officials said.
Safety Components contributed roughly $56.2 million in revenues and $1.4 million in net income for the quarter. Due to the timing of Zapata’s 2003 acquisition of Safety Components, the acquisition contributed nothing in 2003.
Omega Protein contributed some $41.5 million in revenues and $1.1 million in net income, up from $32.2 million in revenues and $444,000 in net income in the third-quarter 2003.
Zapata also reported consolidated net income of $3.4 million, or $1.41 a share, on revenues of $284.3 million for the first nine months. It posted consolidated net income of $799,000, or 33 cents a share, on revenues of $84.5 million for the comparable period of 2003.
Zapata was trading midday at $61.75 a share, up 2 percent.

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