Not only are you losing muscle by exercising hungry, but since you have no fuel to work out, you won't have the energy to exercise as long or as intensely as you would if you had eaten.
This translates to less overall calories burned. In another study, women...
QUOTE OF THE DAY (05 February 2012): A man without a smiling face must not open a shop - Chinese Proverb
JOKES
JOKE: The Sermon
A minister gave a talk to the local rotary club on sex.
When he got home, he couldn't tell his wife that he had spoken on sex, so he said he had discussed horseback riding with the members.
A few days later, she ran into some men at the shopping centre and they complimented her on the speech her husband had made.
She said, "Yes, I heard. I was surprised about the subject matter, as he's only tried it twice. The first time he got so sore he could hardly walk, and the second time he fell off!"