Carnival posts record Q4 profit

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Carnival posts record Q4 profit[/size]

Source: Pacific Business News

Carnival Corp. & PLC reports record fourth quarter net income of $416 million. Fuel bills increased operating costs by $210 in 2006, the company added.

"Following two exceptionally strong years of earnings growth in 2004 and 2005, we ended 2006 with a modest increase in earnings per share," CEO Micky Arison said, "as a result of a very significant increase in fuel prices."

Revenues rose 9.2 percent and net revenue yields rose 2.3 percent, London-based Carnival (NYSE: CCL) said Thursday. Adjusting for currency exchange rates, net revenue yields on a local currency basis rose 0.8 percent over the same period last year.

Net cruise costs per available lower berth day rose 1 percent but fell slightly after currency adjustments. Higher fuel prices increased operating costs by $210 million in 2006, which reduced earnings per share by 25 cents.

The quarter at a glance:

[*]Revenue: $11.84 billion. Year before: $11.10 billion.

[*]Net income: $2.28 billion. Year before: $2.25 billion.

[*]Per share: $2.77. Year before: $2.70.

Carnival Corp. operates 81 ships with 144,000 lower berths under the brand names Carnival Cruise Lines, Holland America Line, Princess Cruises, Seabourn Cruise Line, Windstar Cruises, AIDA Cruises, Costa Cruises, Cunard Line, Ocean Village, P&O Cruises, Swan Hellenic, and P&O Cruises Australia.