- Holland America Line makes three director appointments in fleet operations department
- Windstar Cruises introduces new yacht and voyage collection
- Mein Schiff 3 to improve energy efficiency by about 30%
- Regent Seven Seas makes itinerary changes for fall 2014
- Mein Schiff 1 godmother to celebrate fourth anniversary of ship with gala concert
- Viking launches its ocean project, company rebrands
- Royal Caribbean's Vice Chairman and CFO Rice to retire
- TUI AG to restructure Hapag-Lloyd Kreuzfahrten unit after its deep interim losses
- RCCL to revitalise Voyager of the Seas before 2014-15 Australasia deployment
- High airfares force Carnival Cruise Lines out of Europe 2014
- Australian source market grew 11% to 694,000 passengers in 2012
- Norwegian sees $2.2 billion capex on newbuildings to 2015
Ports & Destinations
- Athens prepares to host Posidonia Sea Tourism Conference
- Norwegian Breakaway makes maiden call to Bermuda
- Study demonstrates that BC cruise ports continue to be an economic hub in Canada
- Ports America awarded operating contract for Port of Los Angeles Cruise Terminal
- Cruise tourism's contribution to Dubai's tourism growth due to grow in 2014
Products & services
- Wallem opens offices in South Africa
- Trimline and Carnival UK agree an on board interior maintenance service for five ships
- Wärtsilä Aquarius ballast water system received final approval
- Wallem opens first hub of expertise in Singapore as it looks to establish strategic maritime locations around the world
- AIDA calls at Lloyd Werft for the first time
- Category: Top Headlines
- Published on Tuesday, 21 December 2010 16:02
- Written by Kari Reinikainen
Carnival Corporation & plc, the world’s largest cruise shipping group, reported net income for the full year ended November 30, 2010 of $2.0 billion, or $2.47 diluted EPS (earnings per share), compared to net income of $1.8 billion, or $2.24 diluted EPS, for the prior year. Revenues for the full year 2010 were $14.5 billion compared to $13.5 billion for the prior year.
For the fourth quarter, the company reported net income of $248 million, with earnings per share increasing almost 30 percent to $0.31 diluted EPS, on revenues of $3.5 billion for its fourth quarter ended November 30, 2010. Net income for the fourth quarter of 2009 was $193 million, or $0.24 diluted EPS, on revenues of $3.3 billion.
Earnings per share in the fourth quarter was just $0.01 below the company's September guidance despite the recently announced voyage disruptions, which reduced earnings by $0.07 per share.
Micky Arison, Carnival Corporation & plc Chairman and CEO, commenting on full year results said, "All-in-all, 2010 was an encouraging year with improved business trends from a gradually recovering economy. We achieved an 11 percent increase in net income on 7 percent higher revenues. We recovered almost 3 points of revenue yield (constant dollars) from 2009's levels, while improved processes and efficiencies led to a 3 percent reduction in unit costs excluding fuel."
Arison added, "Cash from operations increased 14 percent to reach $3.8 billion, more than enough to fund our expansion program which peaked this year at a capital investment of $3.6 billion. We also reinstated the dividend early in 2010 at an initial rate of $0.10 per quarter."
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