Carnival Corporation Reports Quarterly Profits

Carnival Corporation reported second-quarter results this week, posting net income of $380 million on revenues of $2.66 billion. That compares with $388 million on $2.52 billion during the same quarter a year ago. Yields increased 1.5 percent compared to the same quarter in the prior year.

Mickie Arinson, Carnival Corp.´s chairman and CEO, said the second-quarter results were in line with expectations, and the company´s North American and European cruise brand yields were strong, despite price pressure on Caribbean sailings.

He also said the company had done a good job of controlling costs, despite higher fuel costs, which chopped $74 million off the quarter´s bottom line.

Mr. Arinson said he is expecting a solid increase in revenue yields from the company´s European brands in the second half of 2006, and that pricing in Europe and Alaska for the company´s North American brands is ahead of last year.