Carnival Reports 1997 Q1 Results

Carnival Corporation has reported net income of $85.4 million, or $0.29 per share, on revenues of $521.1 million for its first quarter ended Feb. 28, 1997, compared to net income of $77.1 million, or $0.27 per share, on revenues of $448.8 million for the same quarter last year.

Carnival attributed increased revenues to the added capacity provided by the Inspiration, Carnival Destiny and Veendam.

For the three-month period ended Feb. 28, 1997, Carnival reported 455,000 passengers and 2,818,000 passenger cruise days for a load factor of 106.4 percent, compared to 408,000 passengers and 2,454,000 passenger cruise days and a load factor of 107.1 percent for the same quarter the previous year.

Carnival also said that the first quarter results included the seasonal losses of Airtours.

Micky Arison, Carnival Corp. chairman, said that based on its first quarter results and continued strong booking demand, the company appeared to be heading toward a solid financial performance for the remainder of 1997.

“Advance bookings and pricing are both ahead of last year at this time,” Arison said.

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