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Carnival slashes outlook on fallout from Concordia; posts wider-than-expected 1st-qtr loss
NEW YORK (AP) ' Carnival says its earnings this year could be trimmed by as much as 82 percent due to the sinking of the Costa Concordia off of Italy, which killed 32 people in January.
The Miami cruise line expects net income of between $1.40 and $1.70 per share. It previously forecast of $2.55 to $2.85 per share. Revenue for the year after expenses could fall as much as 4 percent. If the business with the sunken Italian ship is excluded, Carnival says the number would likely be flat.
Carnival Corp. posted losses of $139 million, or 18 cents per share, for the first quarter Friday. A year ago, it earned $152 million, or 19 cents per share.
Analysts expected a loss of 7 cents per share with revenue of $3.56 billion.