Carnival Weathers Kosovo Crisis, Posts 4Q Profit Rise

Monday, December 20, 1999
Carnival Corp. officials reported that the company weathered the last ill-effects of a European downturn from the Kosovo fighting and posted an 8.1 percent increase in fourth-quarter share profits. Officials added that early 2000 bookings for the company's 45 ships were shaping up well. Miami-based Carnival reported net income of $251 million, or 40 cents per share, for the quarter ended Nov. 30, just topping the consensus analysts share estimate of 39 cents compiled by First Call/Thomson Financial. Revenues increased 8.6 percent to $791.2 million from $728.6 million in the final quarter of fiscal 1998, when net income was $220.6 million, or 37 cents per share.

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