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Carnival Cruise Lines Posts Strong Profits

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Sep 20, 2007 10:03 am US/Eastern

Carnival Cruise Lines Posts Strong Profits

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MIAMI-DADE (CBS4) ― The world's largest cruise operator is reporting a 12 percent rise in third-quarter profits.

Miami-based Carnival Corporation reported net income of $1.67 cents per share for the quarter ending August 31st, versus $1.49 per share a year earlier.

The world's largest cruise operator reported a 12 percent rise in its third-quarter profits. Its revenues were over $4-billion compared to just under $4-billion in the same period last year.

Carnival Chairman Micky Arison said quarterly results came in better than expected primarily due to stronger pricing on bookings taken closer to departure and its new ships.

Carnival operates 82 ships, with 17 new ships scheduled to enter service by June 2011.

(© 2007 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

© MMIX, CBS Television Stations Inc. All Rights Reserved.