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CARNIVAL CRUISE LINES REPORTS SECOND QUARTER NET INCOME

 CARNIVAL CRUISE LINES REPORTS SECOND QUARTER NET INCOME
 MIAMI, June 22 /PRNewswire/ -- Carnival Cruise Lines, Inc. (NYSE: CCL) reported income from continuing operations and net income of $57.1 million ($0.41 EPS) on revenues of $346.0 million for the second quarter ended May 31, 1992, compared to income from continuing operations of $47.2 million ($0.35 EPS) and net income of $43.4 million ($0.32 EPS) on revenues of $307.0 million for the same quarter in 1991. For accounting purposes, the company is treating its Crystal Palace Resort and Casino business in Nassau, Bahamas, as a discontinued operation.
 Revenues and income from continuing operations for the second quarter increased 13 percent and 21 percent, respectively, over the comparable quarter in 1991. The increases were primarily attributed to new capacity provided by Carnival's Ecstasy, which entered service in June 1991.
 Income from continuing operations and net income for the six months ended May 31, 1992, was $103.8 million ($0.74 EPS) on revenues of $674.8 million, compared to income from continuing operations of $84.6 million ($0.63 EPS) and net income of $73.9 million ($0.55 EPS) on revenues of $599.9 million for the same period in 1991. The increases for the six months were attributable primarily to the additional capacity provided by the Ecstasy.
 For the three months ended May 31, 1992, the cruise line achieved an average occupancy level of 103.6 percent carrying 287,212 passengers compared to 262,736 passengers for an average occupancy level of 103.4 percent for the second quarter of 1991. Combined with first quarter results, the line achieved a fleetwide occupancy level of 102.8 percent for the first six months of 1992 vs. 103.5 percent for the same period in 1991. Passenger counts for the six months rose 11 percent to 567,122 up from 509,146 passengers for the first half of 1991.
 Carnival is the world's largest cruise line based on number of passengers carried. Together with its affiliated cruise lines, Holland America Line, Windstar Cruises and Seabourn Cruise Line, it operates 18 ships in the Caribbean, Alaska and other worldwide destinations. Carnival has contracted for the construction of three 2,600-passenger ships, the Sensation, Fascination and Imagination, which are scheduled for delivery in 1993, 1994 and 1995, respectively. It also has contracted to construct three new ships for Holland America Line. The first of these, the Statendam, is scheduled for delivery in late 1992, with the Maasdam and Ryndam to be delivered in late 1993 and 1994, respectively.
 CARNIVAL CRUISE LINES, INC.
 SIX MONTHS ENDED THREE MONTHS ENDED
 MAY 31, MAY 31,
 1992 1991 1992 1991
 Revenues
 (millions) $674.8 $599.9 $346.0 $307.0
 Net Income
 (millions) $103.8 $73.9 $57.1 $43.4
 Earnings Per
 Share $0.74 $0.55 $0.41 $0.32
 Passengers
 Carried 567,122 509,146 287,212 262,736
 Percentage
 of Total
 Capacity 102.8 103.5 103.6 103.4
 Weighted
 Average Shares
 Outstanding 140,643,000 134,819,000 140,650,000 134,900,000
 -0- 6/22/92
 /CONTACT: Tim Gallagher of Carnival Cruise Lines, 305-599-2600/
 (CCL) CO: Carnival Cruise Lines, Inc. ST: Florida IN: LEI SU: ERN


JB-SS -- FL001 -- 2215 06/22/92 08:00 EDT
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Publication:PR Newswire
Date:Jun 22, 1992
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