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#1
June 17th, 2004, 02:40 PM
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Carnival Profits Up Sharply!
Hi Everyone,
I received this press release from the Carnival Corporation and thought it would be of interest. If you have missed any of my news' postings, they are available on my web site. Best regards, Ray LIGHTHOUSE TRAVEL 800-719-9917 or 805-566-3905 http://www.lighthousetravel.com Carnival Corporation & plc Reports Record Second Quarter and Six Months Earnings MIAMI, June 17 Carnival Corporation & plc (NYSE: CCL; LSE) (NYSE: CUK) reported record net income of $332 million, or $0.41 diluted EPS, on revenues of $2.3 billion for its second quarter ended May 31, 2004 compared to pro forma net income of $124 million, or $0.16 diluted EPS, on pro forma revenues of $1.6 billion for the same quarter in 2003. Reported diluted earnings per share for the second quarter of 2003 were $0.19. Both the pro forma and reported 2003 earnings per share were reduced by $0.02 due to litigation and other charges associated with the dual listed company ("DLC") transaction. Net income for the six months ended May 31, 2004 was $535 million, or $0.66 diluted EPS, on revenues of $4.2 billion, compared to pro forma net income of $272 million, or $0.34 diluted EPS, on pro forma revenues of $3.3 billion for the same period in 2003. Reported diluted earnings per share for the six months ended May 31, 2003 were $0.40. Carnival Corporation and P&O Princess plc entered into a DLC structure on April 17, 2003, which effectively made Carnival Corporation and P&O Princess plc a single economic entity ("Carnival Corporation & plc" or the "company"). Also on that date, P&O Princess plc changed its name to Carnival plc. For reporting purposes, Carnival Corporation has accounted for the DLC transaction as an acquisition of Carnival plc as of April 17, 2003. The company's reported results for the second quarter of 2003 include only six weeks of the results of Carnival plc. Consequently, the company believes that the most meaningful comparison of financial results and revenue and cost metrics is to the comparable 2003 pro forma results and metrics, which reflect the operations of both Carnival Corporation and Carnival plc as if the companies had been consolidated throughout 2003. The company has also presented these metrics on a gross and as reported basis. Pro Forma Comparisons Net revenue yields (net revenue per available lower berth day) for the second quarter of 2004 increased 13.2 percent compared to pro forma net revenue yields in the prior year, primarily due to higher net revenue per diems and occupancy levels and, to a lesser extent, the weak U.S. dollar relative to the euro and sterling. Net revenue yields as measured on a local currency basis ("constant dollar basis") increased 10.6 percent over the same period last year. Gross revenue yields increased 13.2 percent. Net cruise costs per available lower berth day ("ALBD") for the second quarter of 2004 were flat compared to pro forma costs for the same period last year. This result was achieved despite the impact of the weak dollar, which has the effect of increasing cruise costs per ALBD. On a constant dollar basis, net cruise costs per ALBD declined 2.7 percent from the same period last year due to economies of scale from our 22 percent capacity increase and synergies from the DLC transaction. Gross cruise costs per ALBD increased 3.4 percent compared to the prior year. Reported Comparisons Net revenue yields increased 13.8 percent (16.5 percent gross) for the second quarter of 2004 compared to the same quarter of 2003 primarily due to the same reasons as the pro forma comparisons. Net cruise costs per ALBD increased 4.3 percent (10.2 percent gross) compared to the second quarter of 2003 primarily because of the impact of the weak U.S. dollar and higher operating costs of the Carnival plc brands. "This has been a remarkable quarter," said Micky Arison, Carnival Corporation & plc Chairman and CEO. "Even with a 22 percent capacity growth, we achieved a 13 percent improvement in revenue yields. This, along with the synergies we realized from the P&O Princess combination, contributed to earnings more than doubling during the second quarter compared to last year's comparable quarter," he added. "This quarter also marks the first anniversary of the merger with P&O Princess and we're very pleased with the progress and performance thus far," Arison said. "In addition to a record breaking quarter, we also introduced seven new ships in just seven months. Despite the ambitious newbuild delivery schedule, each introduction has been extremely smooth, with all of these ships enjoying great success in their respective markets." Three new ships joined the fleet during the second quarter of 2004. Holland America Line's new 1,848-passenger Westerdam was delivered in April and launched a series of European cruises. Princess Cruises' 3,114-passenger Caribbean Princess was also delivered in April and began year-round Caribbean cruises from Fort Lauderdale, Fla. In addition, the 2,674-passenger Sapphire Princess was delivered in late May and just entered service last week with an Alaskan summer program, followed by a series of Pacific cruises beginning in September. These vessels joined the four other ships that were introduced in the last seven months, including the Costa Fortuna in November 2003, Queen Mary 2 in January 2004, and the Carnival Miracle and Diamond Princess in February 2004. Comments on Outlook for Remainder of 2004 Looking forward, Arison indicated that he was extremely pleased with the outlook for the remainder of 2004. Advance booking levels for the second half of 2004 are significantly ahead of last year's levels at this time on a capacity adjusted basis, with pricing showing continuing strength. "Cruising is an increasingly popular vacation choice. More customers are booking further in advance resulting in a notable expansion in the booking curve for the second half of the year, which is also extending into 2005," Arison explained. For the full year of 2004, the company currently expects net revenue yields to increase approximately 6 to 8 percent (4 to 6 percent on a constant dollar basis), compared to pro forma 2003. Net cruise costs per ALBD for full year 2004 are expected to be flat to up 2 percent (flat to down 2 percent on a constant dollar basis), compared to pro forma 2003. Based on these estimates, and including better than expected second quarter results, and assuming no major geopolitical events adversely impacting its business, the company expects full year 2004 earnings per share to be in the range of $2.10 to $2.20 per share, versus previous guidance of $2.05 to $2.15 per share. The company's current guidance is based on an exchange rate of $1.19 to the euro and $1.77 to sterling. The company expects that net revenue yields for the third quarter of 2004 will increase approximately 6 to 8 percent (4 to 6 percent on a constant dollar basis), compared to last year's third quarter. Net cruise costs per ALBD in the third quarter of 2004 are expected to be up 1 to 3 percent (down 1 to up 1 percent on a constant dollar basis), compared to 2003. Based on these estimates, the company expects earnings per share for the third quarter of 2004 to be in the range of $1.16 to $1.20. The company has scheduled a conference call with analysts at 10 a.m. EST (15.00 London time) today to discuss its 2004 second quarter earnings. This call can be listened to live and additional information can be obtained via Carnival Corporation & plc's Web sites at http://www.carnivalcorp.com and http://www.carnivalplc.com. Carnival Corporation & plc is the largest cruise vacation group in the world, with a portfolio of 12 cruise brands in North America, Europe and Australia, comprised of Carnival Cruise Lines, Holland America Line, Princess Cruises, Seabourn Cruise Line, Windstar Cruises, AIDA, Costa Cruises, Cunard Line, Ocean Village, P&O Cruises, Swan Hellenic, and P&O Cruises Australia. Together, these brands operate 77 ships totaling more than 128,000 lower berths with eight new ships scheduled for delivery between November 2004 and December 2006. Carnival Corporation & plc also operates the leading tour companies in Alaska and the Canadian Yukon, Holland America Tours and Princess Tours. Traded on both the New York and London Stock Exchanges, Carnival Corporation & plc is the only group in the world to be included in both the S&P 500 and the FTSE 100 indices. Cautionary note concerning factors that may affect future results Some of the statements contained in this earnings release are "forward- looking statements" that involve risks, uncertainties and assumptions with respect to Carnival Corporation & plc, including some statements concerning future results, plans, outlook, goals and other events which have not yet occurred. You can find many, but not all, of these statements by looking for words like "will," "may," "believes," "expects," "anticipates," "forecast," "future," "intends," "plans," and "estimates" and for similar expressions. Because forward-looking statements involve risks and uncertainties, there are many factors that could cause Carnival Corporation & plc's actual results, performance or achievements to differ materially from those expressed or implied in this earnings release. Forward-looking statements include those statements which may impact the forecasting of earnings per share, net revenue yields, booking levels, pricing, occupancy, operating, financing and tax costs, costs per available lower berth day, estimates of ship depreciable lives and residual values, outlook or business prospects. These factors include, but are not limited to, the following: achievement of expected benefits from the DLC transaction; risks associated with the DLC structure; risks associated with the uncertainty of the tax status of the DLC structure; general economic and business conditions, which may impact levels of disposable income of consumers and the net revenue yields for cruise brands of Carnival Corporation & plc; conditions in the cruise and land-based vacation industries, including competition from other cruise ship operators and providers of other vacation alternatives and increases in capacity offered by cruise ship and land-based vacation alternatives; risks associated with operating internationally; the international political and economic climate, armed conflicts, terrorist attacks and threats thereof, including the risk of attack at the 2004 Summer Olympics in Athens, Greece, for which Carnival Corporation & plc has chartered four of its ships to third parties, availability of air service, other world events and adverse publicity, and their impact on the demand for cruises; accidents and other incidents affecting the health, safety, security and vacation satisfaction of passengers; the ability of Carnival Corporation & plc to implement its shipbuilding programs and brand strategies and to continue to expand its business worldwide; the ability of Carnival Corporation & plc to attract and retain qualified shipboard crew and maintain good relations with employee unions; the ability to obtain financing on terms that are favorable or consistent with Carnival Corporation & plc's expectations; the impact of changes in operating and financing costs, including changes in foreign currency and interest rates and fuel, food, insurance and security costs; changes in the tax, environmental, health, safety, security and other regulatory regimes under which Carnival Corporation & plc operates; continued availability of attractive port destinations; the ability to successfully implement cost improvement plans and to integrate business acquisitions; continuing financial viability of Carnival Corporation & plc's travel agent distribution system; and weather patterns or natural disasters. Forward-looking statements should not be relied upon as a prediction of actual results. Subject to any continuing obligations under applicable law or any relevant listing rules, Carnival Corporation & plc expressly disclaims any obligation to disseminate, after the date of this release, any updates or revisions to any such forward-looking statements to reflect any change in expectations or events, conditions or circumstances on which any such statements are based. Carnival Corporation & plc Consolidated Statements Of Operations Three Months Ended May 31, Reported(1) Pro Forma(2)(3) Reported(1)(3) 2004 2003 2003 (in millions, except per share data) Revenues Cruise Passenger tickets $1,691 $1,239 $1,008 Onboard and other 529 364 305 Other 36 31 29 2,256 1,634 1,342 Costs and Expenses Operating Cruise Commissions, transportation and other 376 280 212 Onboard and other 97 61 44 Payroll and related 249 207 172 Food 137 105 88 Other ship operating 437 351 283 Other 33 31 28 Total 1,329 1,035 827 Selling and administrative 322 276 212 Depreciation and amortization 200 156 135 1,851 1,467 1,174 Operating Income 405 167 168 Nonoperating (Expense) Income Interest income 4 10 9 Interest expense, net of capitalized interest (70) (48) (42) Other (expense) income, net (7) (11)(4) (11)(4) (73) (49) (44) Income Before Income Taxes 332 118 124 Income Tax Benefit, Net 6 4 Net Income $332 $124 $128 Earnings Per Share Basic $0.41 $0.16 $0.19 Diluted $0.41 $0.16 $0.19 Dividends Per Share $0.125 $0.105 $0.105 Weighted-Average Shares Outstanding - Basic 803 796 689 Weighted-Average Shares Outstanding - Diluted 839 799 690 Six Months Ended May 31, Reported(1) Pro Forma(2)(3) Reported(1)(3) 2004 2003 2003 (in millions, except per share data) Revenues Cruise Passenger tickets $3,218 $2,501 $1,808 Onboard and other 976 716 536 Other 45 39 33 4,239 3,256 2,377 Costs and Expenses Operating Cruise Commissions, transportation and other 760 592 386 Onboard and other 178 123 72 Payroll and related 486 398 302 Food 264 211 158 Other ship operating 817 687 496 Other 43 41 33 Total 2,548 2,052 1,447 Selling and administrative 638 558 389 Depreciation and amortization 388 307 241 3,574 2,917 2,077 Operating Income 665 339 300 Nonoperating (Expense) Income Interest income 9 15 13 Interest expense, net of capitalized interest (136) (101) (71) Other (expense) income, net (7) 7(4)(5) 4(4)(5) (134) (79) (54) Income Before Income Taxes 531 260 246 Income Tax Benefit, Net 4 12 9 Net Income $535 $272 $255 Earnings Per Share Basic $0.67 $0.34 $0.40 Diluted $0.66 $0.34 $0.40 Dividends Per Share $0.25 $0.21 $0.21 Weighted-Average Shares Outstanding - Basic 801 795 638 Weighted-Average Shares Outstanding - Diluted 830 799 639 (1) The reported results for 2004 included Carnival Corporation and Carnival plc and the 2003 reported results only included Carnival plc since April 17, 2003, when the DLC transaction was completed. (2) See note (a) to the Carnival Corporation & plc "Reported and Pro Forma GAAP Reconciling Information." (3) Reclassifications have been made to certain 2003 amounts to conform to the current period presentation. (4) Included $16 million of expenses recorded in the three months ended May 31, 2003 related to litigation and other charges associated with the DLC transaction with P&O Princess plc. (5) Included $19 million of income from net insurance proceeds, less certain other nonoperating expenses, recorded in the three months ended February 28, 2003. CARNIVAL CORPORATION & PLC SELECTED STATISTICAL AND SEGMENT INFORMATION Three Months Ended May 31, Reported Pro Forma Reported 2004 (1) 2003 (2)(3) 2003 (1)(3) (in millions, except statistical information) STATISTICAL INFORMATION Passengers carried 1,567,423 1,254,259 1,153,003 Available lower berth days(4) 11,120,445 9,092,025 7,660,571 Occupancy percentage 102.8% 98.2% 98.5% SEGMENT INFORMATION Revenues Cruise $2,220 $1,603 $1,313 Other 43 42 40 Intersegment elimination (7) (11) (11) $2,256 $1,634 $1,342 Operating expenses Cruise $1,296 $1,004 $799 Other 40 42 39 Intersegment elimination (7) (11) (11) $1,329 $1,035 $827 Selling and administrative expenses Cruise $308 $264 $203 Other 14 12 9 $322 $276 $212 Operating income (loss) Cruise $421 $183 $178 Other (16) (16) (10) $405 $167 $168 Six Months Ended May 31, Reported Pro Forma Reported 2004 (1) 2003 (2)(3) 2003 (1)(3) STATISTICAL INFORMATION Passengers carried 2,929,009 2,460,689 2,075,786 Available lower berth days(4) 21,183,100 17,710,254 13,465,330 Occupancy percentage 102.4% 99.3% 100.3% SEGMENT INFORMATION Revenues Cruise $4,194 $3,217 $2,344 Other 54 51 46 Intersegment elimination (9) (12) (13) $4,239 $3,256 $2,377 Operating expenses Cruise $2,505 $2,011 $1,414 Other 52 54 46 Intersegment elimination (9) (13) (13) $2,548 $2,052 $1,447 Selling and administrative expenses Cruise $610 $533 $373 Other 28 25 16 $638 $558 $389 Operating income (loss) Cruise $702 $375 $322 Other (37) (36) (22) $665 $339 $300 (1) The reported information for 2004 included Carnival Corporation and Carnival plc and the 2003 reported results only included Carnival plc since April 17, 2003. (2) See note (a) to the Carnival Corporation & plc "Reported and Pro Forma GAAP Reconciling Information." (3) Reclassifications have been made to certain 2003 amounts to conform to the current period presentation. (4) Available lower berth days ("ALBDs") is the total passenger capacity for the period, assuming two passengers per cabin, that we offer for sale, which is computed by multiplying passenger capacity by revenue- producing ship operating days in the period. CARNIVAL CORPORATION & PLC REPORTED AND PRO FORMA GAAP RECONCILING INFORMATION We use net revenue yields to measure our cruise segment revenue performance. Gross and net revenue yields were computed by dividing the gross or net revenues, without rounding, by ALBDs as follows: Three Months Ended May 31, Reported Pro Forma Reported 2004 2003 (a) 2003 (in millions, except ALBDs and yields) Cruise revenues Passenger tickets $1,691 $1,239 $1,008 Onboard and other 529 364 305 Gross cruise revenues 2,220 1,603 1,313 Less cruise costs Commissions, transportation and other (376) (280) (212) Onboard and other (97) (61) (44) Net cruise revenues $1,747 $1,262 $1,057 ALBDs 11,120,445 9,092,025 7,660,571 Gross revenue yields (b) $199.62 $176.30 $171.42 Net revenue yields (b) $157.06 $138.78 $137.97 Six Months Ended May 31, Reported Pro Forma Reported 2004 2003 (a) 2003 (in millions, except ALBDs and yields) Cruise revenues Passenger tickets $3,218 $2,501 $1,808 Onboard and other 976 716 536 Gross cruise revenues 4,194 3,217 2,344 Less cruise costs Commissions, transportation and other (760) (592) (386) Onboard and other (178) (123) (72) Net cruise revenues $3,256 $2,502 $1,886 ALBDs 21,183,100 17,710,254 13,465,330 Gross revenue yields (b) $198.02 $181.66 $174.11 Net revenue yields (b) $153.74 $141.30 $140.08 We use net cruise costs per ALBD to monitor our ability to control our cruise segment costs. Gross and net cruise costs per ALBD were computed by dividing the gross or net cruise costs, without rounding, by ALBDs as follows: Three Months Ended May 31, Reported Pro Forma Reported 2004 2003 (a) 2003 (in millions, except ALBDs and costs per ALBD) Cruise operating expenses $1,296 $1,004 $799 Cruise selling and administrative expenses 308 264 203 Gross cruise costs 1,604 1,268 1,002 Less cruise costs included in net cruise revenues Commissions, transportation and other (376) (280) (212) Onboard and other (97) (61) (44) Net cruise costs $1,131 $927 $746 ALBDs 11,120,445 9,092,025 7,660,571 Gross cruise costs per ALBD (b) $144.28 $139.49 $130.98 Net cruise costs per ALBD (b) $101.72 $101.97 $97.53 Six Months Ended May 31, Reported Pro Forma Reported 2004 2003 (a) 2003 (in millions, except ALBDs and costs per ALBD) Cruise operating expenses $2,505 $2,011 $1,414 Cruise selling and administrative expenses 610 533 373 Gross cruise costs 3,115 2,544 1,787 Less cruise costs included in net cruise revenues Commissions, transportation and other (760) (592) (386) Onboard and other (178) (123) (72) Net cruise costs $2,177 $1,829 $1,329 ALBDs 21,183,100 17,710,254 13,465,330 Gross cruise costs per ALBD (b) $147.06 $143.57 $132.64 Net cruise costs per ALBD (b) $102.78 $103.20 $98.61 NOTES TO HISTORICAL AND PRO FORMA GAAP RECONCILING INFORMATION (a) The pro forma information gives pro forma effect to the DLC transaction between Carnival Corporation and Carnival plc, which was completed on April 17, 2003, as if the DLC transaction had occurred on December 1, 2002. Management has prepared the pro forma information based upon the companies' reported financial information and, accordingly, the above information should be read in conjunction with the companies' financial statements, as well as pro forma information included in the companies' joint Current Report on Form 8-K filed on March 5, 2004. The DLC transaction has been accounted for as an acquisition of Carnival plc by Carnival Corporation, using the purchase method of accounting. The Carnival plc accounting policies have been conformed to Carnival Corporation's policies. Carnival plc's reporting period has been changed to the Carnival Corporation reporting period and the pro forma information covers the same periods of time for both companies. The pro forma information has not been adjusted to reflect any net transaction benefits from the DLC transaction. In addition, it excludes $27 million and $51 million for the three and six months ended May 31, 2003, respectively, of nonrecurring DLC transaction costs which were expensed by Carnival plc prior to April 17, 2003. The exclusion of these nonrecurring costs is consistent with the requirements of Article 11 of Regulation S-X. The 2003 pro forma information was computed by adding Carnival plc's 2003 results, adjusted for acquisition adjustments (reductions of $4 million and $8 million of depreciation expense and $2 million and $3 million of interest expense for the three and six months ended May 31, 2003, respectively,) to the 2003 Carnival Corporation reported results. Finally, the pro forma information does not purport to represent what the results of operations actually could have been if the DLC transaction had occurred on December 1, 2002 or what those results will be for any future periods. (b) In the cruise industry, most companies, including Carnival Corporation & plc, generally consider net cruise revenues, which is used in the computation of net revenue yields, to be a commonly used indicator of revenue performance rather than gross cruise revenues, and net cruise costs, which is used in the computation of net cruise costs per ALBD, to be the most significant measure used to monitor our ability to control costs rather than gross cruise costs. We have not provided estimates of future gross revenue yields or future gross cruise costs per ALBD because the reconciliations of forecasted net cruise revenues to forecasted gross cruise revenues or forecasted net cruise costs to forecasted cruise operating expenses would require us to forecast, with reasonable accuracy, the amount of air and other transportation costs that our forecasted cruise passengers would elect to purchase from us (the "air/sea mix"). Since the forecasting of future air/sea mix involves several significant variables that are relatively difficult to forecast and the revenues from the sale of air and other transportation approximate the costs of providing that transportation, management focuses primarily on forecasts of net cruise revenues and costs rather than gross cruise revenues and costs. This does not impact, in any material respect, our ability to forecast our future results, as any variation in the air/sea mix has no material impact on our forecasted net cruise revenues or forecasted net cruise costs. As such, management does not believe that this reconciling information would be meaningful. 
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#3
June 18th, 2004, 03:33 PM
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Carnival Profits Up Sharply!
Hi:
Hope this means my stock/dividend goes up too! Used to be you could buy one share to get cabin credit on their cruises. Then they got wise and raised it to 100. I bought my 100 shares and that (and RCI which I also got for the same reason--to get cabin credit) are about the only things in my portfolio (admittedly not vast) that has made money (lol). That is not even counting the approximately $700 I have collected in cabin credits over the past few years. With all the mergers, not many cruise lines don't fall under RCI/Carnival to collect the credit. Tucker in Texas
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#4
June 18th, 2004, 09:11 PM
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Carnival Profits Up Sharply!
While after a long time in the red both RCL and CCL now sell for more than
they were when I first bought CCL. I have never owned RCL, and I am not currently considering cruising with them. CCL currently pays $0.50 a share a year, and RCL $0.52. That is a return of slightly over 1%, but since my security deposit only gathers .06%, not bad. Thus far we have scored $1125 in onboard credits, and we will gain an additional $550 before the year is out. That represents over 50% of my original purchase price of $29.60. -- DG in Cherry Hill, NJ "Richard Whitlock" wrote in message ... Hi: Hope this means my stock/dividend goes up too! Used to be you could buy one share to get cabin credit on their cruises. Then they got wise and raised it to 100. I bought my 100 shares and that (and RCI which I also got for the same reason--to get cabin credit) are about the only things in my portfolio (admittedly not vast) that has made money (lol). That is not even counting the approximately $700 I have collected in cabin credits over the past few years. With all the mergers, not many cruise lines don't fall under RCI/Carnival to collect the credit. Tucker in Texas
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#5
June 19th, 2004, 04:31 PM
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Carnival Profits Up Sharply!
Thus far we have scored $1125 in onboard credits, and we will gain an
additional $550 before the year is out. That represents over 50% of my original purchase price of $29.60. Wow, I had no idea that you could get a shipboard credit like this. I've since done some reading about it, but one thing is unclear to me: how long do you have to have owned the stock before you're eligible for the credit. I'm taking the Zuiderdam in August; if I buy now, am I too late for the credit? Of course, I'll doubtless buy some and take advantage of it on my next cruise... -sdo
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#6
June 19th, 2004, 05:46 PM
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Carnival Profits Up Sharply!
I expect you have time to get under the wire. We bought 100 shares of RCL
stock in early Aug. 2003, got a copy of the stock purchase from our financial agent, and were able to get our credit on our 5 September sailing on the Legend of the Seas. I expect the Carnival shareholder's credits could be done just as rapidly. The credits are per cruise. The $1125 that Dick mentioned was for several cruises. For a 7 day cruise the credit is $100 per cabin. Also, his purchase price of $29.60 was no doubt per share, and you need a minimum of 100 shares. The price is somewhat higher today. BTW, we also own shares in Carnival, but had a longer window till our first cruise we used that on. Good luck ! Tobieon an Island in the Pacific "Scott" wrote in message om... Thus far we have scored $1125 in onboard credits, and we will gain an additional $550 before the year is out. That represents over 50% of my original purchase price of $29.60. Wow, I had no idea that you could get a shipboard credit like this. I've since done some reading about it, but one thing is unclear to me: how long do you have to have owned the stock before you're eligible for the credit. I'm taking the Zuiderdam in August; if I buy now, am I too late for the credit? Of course, I'll doubtless buy some and take advantage of it on my next cruise... -sdo
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#7
June 20th, 2004, 01:59 AM
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Carnival Profits Up Sharply!
Thanks, Tobie, as a long time CCL holder I wasn't aware of the short term
timeframe. Yes, I printed a copy of my monthend brokerage statement and e-mailed it to my TA who forwarded it to HAL who confirmed the credit for later this year for us. -- DG in Cherry Hill, NJ "Tobie Gerbrandt" wrote in message news:V5_Ac.810237$oR5.661964@pd7tw3no... I expect you have time to get under the wire. We bought 100 shares of RCL stock in early Aug. 2003, got a copy of the stock purchase from our financial agent, and were able to get our credit on our 5 September sailing on the Legend of the Seas. I expect the Carnival shareholder's credits could be done just as rapidly. The credits are per cruise. The $1125 that Dick mentioned was for several cruises. For a 7 day cruise the credit is $100 per cabin. Also, his purchase price of $29.60 was no doubt per share, and you need a minimum of 100 shares. The price is somewhat higher today. BTW, we also own shares in Carnival, but had a longer window till our first cruise we used that on. Good luck ! Tobieon an Island in the Pacific "Scott" wrote in message om... Thus far we have scored $1125 in onboard credits, and we will gain an additional $550 before the year is out. That represents over 50% of my original purchase price of $29.60. Wow, I had no idea that you could get a shipboard credit like this. I've since done some reading about it, but one thing is unclear to me: how long do you have to have owned the stock before you're eligible for the credit. I'm taking the Zuiderdam in August; if I buy now, am I too late for the credit? Of course, I'll doubtless buy some and take advantage of it on my next cruise... -sdo
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#8
June 24th, 2004, 09:21 PM
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Carnival Profits Up Sharply!
I too have been very happy with my Carnival stock - I hope they extend
the shipboard credit to Princess too. They didn't last year when we sailed them. Does RCI give a shipboard credit for Celebrity? We're sailing on them in September and might just buy their stock. How much is the credit and who do you call to get it? Richard Whitlock wrote: Hi: Hope this means my stock/dividend goes up too! Used to be you could buy one share to get cabin credit on their cruises. Then they got wise and raised it to 100. I bought my 100 shares and that (and RCI which I also got for the same reason--to get cabin credit) are about the only things in my portfolio (admittedly not vast) that has made money (lol). That is not even counting the approximately $700 I have collected in cabin credits over the past few years. With all the mergers, not many cruise lines don't fall under RCI/Carnival to collect the credit. Tucker in Texas
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#9
June 24th, 2004, 10:17 PM
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Carnival Profits Up Sharply!
Hi Barbara,
What time of year did you sail last year on Princess? Shareholder information is on page #4 of the Carnival Corporation & PCL, 2003 Annual report. It includes the address to mail information for Princess cruises. We sailed on the Island Princess at Christmas last year, and we got our credits. I believe RCI Shareholder credits are also available on Celebrity, although We haven't sailed Celebrity since we bought the shares, so I could not say "first-hand". Their credit structure is pretty much identical to Carnival's. Tobieon an Island in the Pacific "Barbara" wrote in message ... I too have been very happy with my Carnival stock - I hope they extend the shipboard credit to Princess too. They didn't last year when we sailed them. Does RCI give a shipboard credit for Celebrity? We're sailing on them in September and might just buy their stock. How much is the credit and who do you call to get it?
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#10
June 24th, 2004, 10:20 PM
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Carnival Profits Up Sharply!
On Thu, 24 Jun 2004 15:21:45 -0500, Barbara
wrote: I too have been very happy with my Carnival stock - I hope they extend the shipboard credit to Princess too. They didn't last year when we sailed them. Hi Barbara, Yes, Princess now gives the ship board credit. Does RCI give a shipboard credit for Celebrity? We're sailing on them in September and might just buy their stock. Yes, Royal Caribbean and Celebrity have the program. How much is the credit and who do you call to get it? It varies by the length of the cruise. Your travel agent can give you the details and take care of it for you. Best regards, Ray LIGHTHOUSE TRAVEL 800-719-9917 or 805-566-3905 http://www.lighthousetravel.com
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| Carnival Legen Cruise 3/28, compared to other cruise experiences (NCL) | Charlie | Cruises | 1 | April 9th, 2004 05:40 PM |
| Carnival Earnings Rise Sharply! | Ray Goldenberg | Cruises | 2 | March 23rd, 2004 03:56 AM |
| Carnival Miracle Delivered! | Ray Goldenberg | Cruises | 3 | February 10th, 2004 09:32 PM |
| CARNIVAL SPIRIT Review and Pictures | E.k.R. | Cruises | 43 | February 2nd, 2004 05:51 AM |
| Carnival Corporation 4th Quarter Financials! | Ray Goldenberg | Cruises | 0 | December 18th, 2003 02:49 PM |
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