Carnival Sees Strongest Bookings in History

Carnival Corporation has posted net income of $193 million on revenues of $3.2 billion for its fourth quarter ended November 30, 2009. Company’s fiscal fourth-quarter earnings fell 48 percent amid falling yields. Net income for the fourth quarter of 2008 was $371 million on revenues of $3.3 billion.

The company reported net income for the full year ended November 30, 2009 of $1.8 billion compared to net income of $2.3 billion for the prior year. Revenues for the full year 2009 were $13.2 billion compared to $14.6 billion for the prior year.

For 2009 full year capacity was up 5.4 percent. The net revenue yields for 2009 in local currency were down 10 percent. The company stated that its cost containment initiatives offset the pressure on its revenue yields.

With continued strength in booking patterns during the last 13 weeks, occupancies on a capacity adjusted basis for the first nine months of 2010 are now at approximately the same levels as last year.

Booking volumes during this past quarter for North American and European brands covering the first three quarters of 2010 are each up over 40 percent versus the easier comparisons to last year. But these bookings are also strong on an absolute basis.