Carnival Reports Q2 Earnings for 1993

Carnival Cruise Lines has reported net income of $65.1 million ($0.46 EPS) on revenues of $378.2 million for its second fiscal quarter ended May 31, 1993, compared to net income of $57.1 million ($0.41 EPS) on revenues of $346.0 million for the same quarter in 1992.

Mickey Arison, Chairman and CEO, pointed out that the results showed a strengthening of yields and particularly benefitted by a full quarter of operation of Holland America Line’s new Statendam.

For the three months ended May 31, 1993, the company achieved an average occupancy level of 104.2 percent carrying 298,532 passengers compared to 287,212 passengers for an average occupancy level of 103.6 percent for the second quarter of 1992.

Net income for the six month period was $115.8 million ($0.82 EPS) on revenues of $701.9 million, compared to net income of $103.8 million ($0.74 EPS) on revenues of $674.8 million for the same period in 1992.

Passenger counts for six month period declined slightly to 563.683 from 567,122 for the first half of 1992.

Carnival shares moved sharply up $6 1/4 to $39 3/4 at press time compared to a 365-day high/low of $38 3/4 – $24.

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