River Cruising Propelled Rapid Growth for Ambassadors in 2006
07 December 2006 6:18pm
At this time last year, Ambassadors International was not known in the cruise business. This year, it owns seven river ships, has established a cruise division specializing in North American river cruises and as a result posted an enormous year-over-year gain. Last year’s third-quarter net income was $400,000. This time around, it’s $7.6 million, a staggering 1,800 percent increase. The company’s third-quarter revenue grew by as much as 800 percent, another whopping figure.The company’s cruise division, which did not exist before 2006, has quickly become by far the largest component of all business operations, accounting for $35 million of the quarter’s total revenue of $57.6 million. For the first nine months of 2006, the cruise division amounted to 61 percent of the company’s total $95.6 million in revenue.
