Carnival Cruise Lines has reported net income from continuing operations of $57.1 million on revenues of $346 million for its second quarter ended May 31, 1992, compared to net income of $47.2 million on revenues of $307 million for the same quarter in 1991.
Net income for the first six months ended May 31, 1992, was $103.8 million on revenues of $674.8 million, compared to net income of $73.9 million on revenues of $599.9 million for the same period in 1991.
Earnings per share were reported at $0.41 for the second quarter and $0.74 for the six month period ended May 31, 1992, compared to $0.32 and $055 in 1991.
The increases for the second quarter and the six month period were attributed mainly to the additional capacity provided by the Ecstasy.
In its second quarter of this year, Carnival achieved an average occupancy level of 103.6 percent carrying 287,212 passengers compared to 262,736 passengers for an average occupancy level of 103.4 percent for the second quarter last year.
For the six month period, Carnival achieved a fleetwide occupancy level of 102.8 percent compared to 103.5 percent for the same period in 1991. The passenger count for the six month period was 567,122 compared to 509,146 passengers for the first half of 1991.
Carnival is also seeking to issue $100 million of subordinated notes due July, 1997. Goldman Sachs & Co., Bear, Stearns & Co., The First Boston Corporation and Salomon Brothers will be the underwriters.
Carnival intends to use the proceeds of the offering to repay a portion of the bank financing used to redeem its zero coupon convertible subordinated notes, which were recently redeemed.
1993 Brochure - Holding Rates
Carnival has released a new 64-page brochure covering departures through December 1993 and is holding most rates at current levels, which have not been increased since mid-1991, according to Bob Dickinson, Senior Vice President of Sales and Marketing.