Ambassadors International Hits Third-Quarter Earnings Slump

Ambassadors International reported a 66 percent increase in revenue for the third quarter ended September 30 to $95.6 million, up from $57.6 million for the same period last year.

Net income for the third quarter, however, dropped to $400,000, or 3 cents per diluted shared, compared to $7.6 million, or 66 cents per diluted share, for the same period one year ago.

Ambassadors acquired Windstar last March, so though there are no year-over-year comparative figures, the brand reported third quarter revenue of $27 million and an operating income of $9.7 million.

Windstar also had a 97.5 percent occupancy percentage during the quarter, and has already sold 48 percent of its 2008 inventory as of October 31.