Carnival Corp. Reports Weaker Bookings

Carnival Corporation revised its 2006 earnings guidance for financial analysts, citing lower revenue yields, higher fuel costs and a change in accounting. Earnings for fiscal 2006 are now expected to be in the range of $2.65 to $2.75 per share, roughly in line with 2005 earnings of $2.70 per share. The company has reduced its outlook for net revenue yield improvement due to what it calls "further weakness in bookings, principally for sailings in the Caribbean during the second half of 2006." Yields now expected to increase one percent to two percent, versus the company's previous estimate of a two to three percent increase. Despite the revised outlook, Micky Arison, Carnival Corp's chairman and CEO, said he believes the fundamentals of the cruise business remain sound and Carnival Corp.'s long-term strategies will help the company increase business in 2007 and beyond.

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