The following is an excerpt from Gene Sloan | January 16, 2012 | usatoday.com |
Carnival Corp., parent company of Costa Cruises, says the partial sinking of the Costa Concordia off the coast of Italy could cost it nearly $100 million in lost earnings this year.
In a disclosure required by rules governing publicly traded companies, industry giant Carnival (CCL) said Monday that the impact to 2012 earnings for loss of use of the ship is expected to be approximately $85million to $95 million or 11 cents to 12 cents per share.
“A damage assessment review of the vessel is currently being undertaken to determine how long it will be out of service,” the Miami-based company said. But “the vessel is expected to be out of service for the remainder of our current fiscal year if not longer.”
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