Carnival 1990 Q2 Earnigns

Carnival Cruise Lines reported net income of $54.6 million on revenues of $352.5 million for the second quarter ended May 31, 1990, compared to net income of $41.6 million on revenues of $284.7 million for the same quarter in 1989.

The increases were attributed to the new capacity provided by Carnival's Fantasy, which entered service in March, as well as the addition of 490 berths to Holland America Line's Westerdam which re-entered service in March following a six-month drydocking for lengthening.

The opening of 650 rooms completed during the final phase of construction of Carnival's Crystal Palace Resort & Casino in January also contributed to the revenue increase.

For the three months ended May 31, 1990, Carnival reported a fleetwide occupancy level of 106.6 percent carrying 257,443 passengers, compared to 205,405 passengers for an occupancy level of 106 percent for the second quarter of 1989.

Net income for the first six months was $79.8 million on revenues of $611.9 million, compared to net income of $87.9 million on revenues of $516.4 million for the same period last year.

At press time, Carnival's shares traded at $23 compared to a 52-week high of $26.88.

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