Carnival Corp. Reports First Quarter Earnings

Wednesday, March 21, 2001
Carnival Corp. reported net income of $128 million ($0.22 diluted EPS) on revenues of $1 billion for its first quarter ended February 28, 2001, compared to net income of $171.5 million ($0.28 diluted EPS) on revenues of $824.9 million for the same quarter in 2000. For the first quarter of 2001, revenues increased 22.2 percent over the comparable quarter in 2000 primarily because of the consolidation of Costa's results of operations starting in the first quarter of 2001 and the introduction of new ships to the company's Carnival Cruise Lines and Holland America Line fleets.Earnings for the first quarter of 2001 decreased compared to 2000 primarily because last year's results included significantly higher net revenue yields, which largely resulted from the unusually high-priced "Millennium sailings" over the New Year's period last year. Commenting on first quarter of 2001 results, Carnival Corp. chairman and CEO Micky Arison noted that, excluding the effect of the Millennium, comparable net revenue yields were down less than one percent compared to the first quarter of 2000, demonstrating a continuing improvement over what the company had reported during the last several quarters."It appears our strategy of aggressively pricing our cruises for those guests booking the furthest in advance of sailing has worked, especially considering the improvement in comparable net revenue yields occurred during a period of increasing weakness in the U.S. economy," Arison said. Also during the first quarter of 2001, the company finalized contracts for the construction of two new 105,000-ton ships for its Costa Cruises brand and also transferred Carnival Cruise Lines' 1,022-passenger Tropicale to the Costa fleet.The Costa Tropicale is currently undergoing a major refit in Italy and is expected to begin operating seven-day Mediterranean cruises in June 2001.
Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Strategic Marine Delivers ‘Triple First’ StratCat

Strategic Marine, a leading specialist shipbuilder and member of the TriYards Group, has delivered a world’s first to European windfarm service sector operator, Njord Offshore.

Rolls-Royce Propulsion Package for Polar Ship

Rolls-Royce has been awarded a contract by ship builder Fincantieri to supply a fully integrated propulsion system for Norway’s new Polar Research Vessel, which

Germany Fights for Indian Submarine Contract

German giant ThyssenKrupp Marine Systems (TKMS), the parent company of leading submarine builder HDW, will offer India its HDW Class 214 vessel, with an eye to

Cruise Ship Trends

Royal Caribbean Sets to Sail to Tianjin

Royal Caribbean International will deploy yet another big ship in China, with the 4,180-passenger Ovation of the Seas joining Quantum of the Seas in the Far East.

Viking Sets to Sail to Ocean

With Viking Ocean Cruises officially has its first cruise ship, the group has embraced a new strategy intended to split its growth more evenly between river and ocean cruising.

Puerto Rico Readies for Largest Cruise Ships

Thanks to a pier expansion and enhancement, Puerto Rico will welcome the two largest cruise ships in the world, Royal Caribbean International’s Oasis of the Seas and Allure of the Seas, in 2016.

 
 
Maritime Contracts Maritime Security Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1115 sec (9 req/sec)