American Classic Voyages (AMCV) has reported net income of $1.7 million, or $0.12 per share, on revenues of $52 million for the third quarter ended Sept. 30, 1995, compared to $697,000, or $0.05 per share, on revenues of $42 million for the third quarter of 1994.
AMCV attributed the revenue and net income improvements in the 1995 third quarter primarily to the result of the addition of the new, 436-passenger American Queen steamboat in June I995.
For the nine months ended Sept. 30, I995, AMCV reported a net loss of $9.9 million, or $0.72 per share, on revenues of $142 million, compared to net income of $516,000, or $0.04 per share. on revenues of $143.4 million for the same period the previous year.
According to AMCV, the nine-month results reflect both higher revenue and costs associated with the addition of the new steamboat, a $5.9 million pre tax charge for pre-opening activities, and the removal from service for renovation of the Constitution.