Carnival Cruises 2009 Annual Report Download - page 57

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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. This higher
demand during the third quarter results in higher net revenue yields and, accordingly, the largest share of our net
income is earned during this period. The seasonality of our results is increased due to ships being taken out of
service for maintenance, which we schedule during non-peak demand periods. In addition, substantially all of
Holland America Princess Alaska Tours’ revenue and net income is generated from May through September in
conjunction with the Alaska cruise season.
Quarterly financial results for fiscal 2009 were as follows:
Quarters Ended
February 28 May 31 August 31 November 30
(in millions, except per share data)
Revenues ............................................. $2,864 $2,948 $4,139 $3,206
Operating income ...................................... $ 311 $ 353 $1,196 $ 294
Net income ........................................... $ 260(a) $ 264 $1,073 $ 193
Earnings per share
Basic .............................................. $ 0.33 $ 0.34 $ 1.36 $ 0.25
Diluted ............................................. $ 0.33 $ 0.33 $ 1.33 $ 0.24
(a) Includes a $15 million gain from the unwinding of a lease out and lease back type transaction and a $17
million gain from changes in uncertain income tax position liabilities.
Quarterly financial results for fiscal 2008 were as follows:
Quarters Ended
February 29 May 31 August 31 November 30
(in millions, except per share data)
Revenues ............................................. $3,152 $3,378 $4,814 $3,302
Operating income ...................................... $ 312 $ 482 $1,485 $ 450 (a)
Net income ........................................... $ 236 $ 390 $1,333 $ 371 (a)
Earnings per share
Basic .............................................. $ 0.30 $ 0.50 $ 1.70 $ 0.47
Diluted ............................................. $ 0.30 $ 0.49 $ 1.65 $ 0.47
Dividends declared per share ............................. $ 0.40 $ 0.40 $ 0.40 $ 0.40
(a) Includes a $31 million gain on the sale of QE2.
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