Carnival Cruises 2008 Annual Report Download - page 106

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F-47
5-YEAR CUMULATIVE TOTAL RETURNS
$50.00
$75.00
$100.00
$125.00
$150.00
$175.00
2003 2004 2005 2006 2007 2008
Carnival plc ADS Dow Jones Index
S&P 500 Index FTSE 100 Index
Assumes $100 Invested on December 1, 2003
Assumes Dividends Reinvested
Years Ended November 30,
2003 2004 2005 2006 2007 2008
Carnival plc ADS $100 $161 $164 $147 $135 $ 69
Dow Jones Index $100 $119 $128 $153 $164 $ 90
S&P 500 Composite $100 $113 $122 $140 $151 $ 93
FTSE 100 Index $100 $108 $125 $139 $148 $ 99
Selected Quarterly Financial Data (Unaudited)
Our revenues from the sale of passenger tickets are seasonal. Historically, demand for
cruises has been greatest during our third fiscal quarter, which includes the Northern
Hemisphere summer months, and holidays. This higher demand during the third quarter and
holidays results in higher net revenue yields and, accordingly, the largest share of our net
income is earned during these periods. The seasonality of our results is increased due to
ships being taken out of service for maintenance, which we typically schedule during non-peak
demand periods. In addition, substantially all of Holland America Tours' and Princess Tours'
revenues and net income are generated from May through September in conjunction with the
Alaska cruise season.