Carnival Corporation has reported net income of $297.9 million, or $1.00 per share, on revenues of $805.4 million for its third quarter ended August 31, 1997, compared to net income of $268.1 million, or $0.92 per share, on revenues of $772.0 million for the same same quarter last year.
The company attributed the increase in earnings to the increased capacity provided by the Carnival Destiny, which entered service in November of 1996, and improved operating margin.
Meanwhile, sources said revenues were held down by fewer air/sea bookings and a decline in Holland America Line's Alaska bookings.
Also included in the net income this year was $10.4 million from affiliated operations, that is, Airtours and Seabourn Cruise Line, compared to $13.0 million last year.
Carnival also reported 554,000 passengers in its third quarter for 3.3 million passenger days and a load factor of 114.3 percent, compared to 507,000 passengers last year for 3.0 million passenger days and a load factor of 114.5%.
For the nine-month period, Carnival reported net income of $510.7 million, or $1.71 per share, on revenues of $1.9 billion, compared to net income of $451.5 million, or $1.56 per share, on revenues of $1.7 billion for the same period last year.
Carnival also reported that its ships carried more than 1.5 million passengers for 9.2 million passenger days and a load factor of 109.6 percent this year, compared to 1.4 million passengers and 8.1 million passenger days and a load factor of 109.7 percent last year.
In a prepared statement, Carnival Chairman and CEO Micky Arison said the fourth quarter was enjoying unusually strong advance bookings. He also said that the booking pattern extended into the first half of 1998 where bookings are also running well ahead of last year's levels.