Summary Box- Carnival 4Q net income declines

Carnival 4th-quarter net income drops as co. continues to deal with rising fuel costs

By The Associated Press | Associated Press – Tue 20 Dec, 2011 10:28 PM IST

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THE NUMBERS: Carnival Corp. reported fourth-quarter earnings of 28 cents per share on revenue of $3.7 billion on Tuesday. The earnings performance met the expectations of analysts polled by FactSet, but revenue fell short of their $3.78 billion estimate.

FUEL HEADACHE: Fuel prices climbed 39 percent to $680 per metric ton in the quarter and rose 32 percent for the year. First quarter fuel costs are expected to rise $93 million from the prior-year period.

OUTLOOK: Carnival predicts first-quarter adjusted earnings of 6 cents to 10 cents per share. Analysts expect earnings of 13 cents per share.

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