Carnival Corporation has reported net income of $77.9 million or $0.55 per share on revenues of $409.4 million for its second quarter ended May 31, 1994, compared to net income of $65.1 million or $0.46 per share on revenues of $378.2 million for the same quarter in 1993.
Net income for the first six months was $142.9 million or $1.01 per share on revenues of $794.7 million compared to net income of $115.8 million or $0.82 per share on revenues of $701.9 million for the same period last year.
Micky Arison, Chairman and CEO, said that second quarter operating results show a continuing strengthening of passenger yields, a trend which began last year.
Looking forward, Arison also said that based on strong demand for the summer sailings for both Caribbean and Alaska cruises, the company expects the trend towards increasing passenger yields to continue through the third quarter.
19 Percent Net Margin
The net margin was 19 percent for this year’s second quarter compared to 17.2 percent last year. For the six month period, the net margin was 18 percent this year compared to 16.5 percent last yar.
Total costs and expenses were 79 percent of total revenues for the second quarter of this year compared to 81 percent last year; and 80 percent for the six month period this year compared to 82.6 percent last year.
For its second quarter of this year, Carnival Corp. achieved an average occupancy level of 101.2 percent carrying 317,652 passengers compared to 298,532 passengers in the second quarter of 1993 when the average occupancy was 104.2 percent. For the six month period, the company carried 632,491 passengers for a 100.7 percent load factor this year compared to 563,683 passengers and 102.6 percent last year.
The average per diem for this year’s second quarter was $212.20 compared to $209.93 last year; and $206.69 for the ftrst six months of this year compared to $205.92 last year.