Carnival Corporation has reported net income of $268.1 million, or $0.92 per share, on revenues of $772.0 million for its third quarter ended August 31, 1996, compared to net income of $209.5 million, or $0.74 per share, on revenues of $672.6 million for the same quarter last year.
Both the third quarter of 1996 and 1995 contained gains from litigation settlements of $16.1 million and $14.4 million, respectively.
The improved results in the third quarter of 1996 were primarily attributable to an increase in capacity generated by the Inspiration and the Veendam.
Also included in this year's third quarter were $12.8 million in "income from affiliated operations" with $7.8 million from Airtours; $3 million from Seabourn Cruise Line; and $2 million from the Island Breeze charter.
Carnival also reported 507,000 passengers in the third quarter for 2.9 million passenger days and a load factor of 114.5 percent, compared to 442,000 passengers last year for 2.5 million passenger days and a load factor of 114.6 percent.
For the nine-month period, Carnival reported net income of $451.5 million, or $1.56 per share, on revenues of $1.7 billion, compared to net income of $366.8 million, or $1.29 per share, on revenues of $1.5 billion for the same period last year.
Carnival also reported that its ships carried more than 1.5 million passengers for 8.1 million passenger days and a load factor of 109.7 percent this year, compared to 1.1 million passengers last year for 6.8 million passenger days and a load factor of 105.1 percent for the same period last year.
In a prepared statement, Carnival Chairman Micky Arison said that the fourth quarter will be a challenge again this year, although its four cruise divisions are on course to post record results for the year (1996).
In addition, Airtours' strong summer quarter will be reported in the seasonally normally weak fourth quarter, reducing some of the seasonality in Carnival's reported results.