Latest news with #bookings
Travel Weekly
3 days ago
- Business
- Travel Weekly
No slowing down for river cruising: 2026 looks even better than 2025
River cruise lines say that despite economic uncertainty in the U.S., 2025 bookings remain strong and 2026 is already outpacing this year. Their success, the companies say, is a result of not just demand but smart marketing and adjusting to trends. Viking, which dominates the river industry and captures the market majority, saw $897.1 million in total revenue for the first quarter of 2025, a nearly 25% jump year over year. The line said it has effectively sold out its river capacity for this year, at 95%, and reported 28% of capacity already sold for 2026. With a fleet of about 80 river cruise ships, Viking is off to a "remarkable start" for the year, said chairman and CEO Torstein Hagen during the company's Q1 earnings call on May 20. As the largest river cruise company, and the only public one, Viking's earnings may not be representative of the entire sector. But several smaller, privately held lines said they are also thriving in 2025 and are expecting even better results next year. Tauck said 2026 bookings are pacing nearly 30% ahead of 2025 bookings, Riviera Travel said 2026 river cruise bookings are 42% higher than 2025 bookings were at this time last year, and CroisiEurope said 35% of 2026 capacity is sold out. Also, AmaWaterways, Avalon Waterways and Amadeus River Cruises all said that 2026 bookings were outpacing 2025, which is on track to be their strongest year ever. And while some lines, including Viking, have reported that much of their 2025 capacity was already booked before this year's economic turbulence, Cleveland Research found that bookings for river and luxury ocean cruises had picked up steam in late April and early May. Travel advisor Lisa Fitzgerald of Fitzgerald Travel, an agency that specializes in river and ocean cruising, said river cruise success is due in part to the lines adjusting to uncertainty in the U.S. economy, which is causing her clients not to pull back on bookings but is leading them to more thoughtful spending. Lisa Fitzgerald "The economy isn't stopping travelers from going on vacation, it's simply changing how they spend," Fitzgerald said. "River cruise lines are tuned into this and are adjusting with thoughtful promotions to attract both repeat guests and first-timers." She also credited lines for reacting to trends and "not standing still" by adding new itineraries and enhancing experiences, both on and off the ship. For example, she said, clients have inquired about shoulder season departures as they watch "where every dollar goes." Observing this trend and seeing a boom in demand, Avalon Waterways added more Christmas market sailings and harvest-time cruises for the offseason, said president Pam Hoffee. Avalon is on pace for a record-breaking 2025, and 2026 is "off to an exceptionally strong start," with bookings trending ahead of this time last year, according to Hoffee. AmaWaterways says 2026 sales are pacing double digits ahead of 2025. Pictured, the new AmaSintra in Portugal. Photo Credit: AmaWaterways Riviera is generating success by focusing on niche markets, such as amplifying its efforts to attract solo cruisers by waiving single supplement fees. This segment has grown "significantly," said Stuart Milan, Riviera's North America president, even outpacing traditional bookings. Amadeus is on track for this year to be its strongest yet, a spokesperson said, and early signs point to 2026 "being a banner year" and outpacing 2025. Amadeus' gains are in part tied to intentional efforts by the line to bring in industry veterans, invest in the travel advisor channel and amp up its marketing efforts, the spokesperson said. AmaWaterways chief sales officer Alex Pinelo said at the 2025 ASTA Travel Advisor Conference in Salt Lake City that the market is "at an all-time high." Last year marked the brand's best year on record, he added, and by the second week of 2025, the company's sales had already passed 2024 year over year. Looking ahead, 2026 sales are pacing "double digits" ahead of 2025, he said, and future demand will be met with 10 new ships being added to its fleet by 2027. Pinelo touted traveler desire to visit rivers outside of Europe -- like the Nile in Egypt, the Mekong in Vietnam and, most recently, the Magdalena in Colombia -- as one of the ways AmaWaterways has found success. Cleveland Research said these three rivers "are key itineraries to watch." Tauck reported "enjoying a very, very strong year across our entire river cruising portfolio," a spokesperson said. Tauck said it is "virtually sold out" for this year, with 2026 bookings pacing nearly 30% ahead of 2025 bookings year over year. CroisiEurope said it has seen similar numbers to Viking, with 90% of its 2025 capacity sold out and 35% of 2026 capacity booked.
Wall Street Journal
4 days ago
- Business
- Wall Street Journal
Microchip Technology Narrows Outlook on Higher Bookings
Microchip Technology MCHP 1.13%increase; green up pointing triangle raised the low ends of its sales and earnings guidance for its fiscal first quarter, thanks to higher-than-expected bookings. The semiconductor provider now expects sales to be $1.045 billion to $1.07 billion in the quarter ending June 30, a tighter range than previous guidance of $1.025 billion to $1.07 billion.
RNZ News
5 days ago
- Business
- RNZ News
Bookings for Milford Track sell out in 40 minutes
Bookings to take a walk on the Milford Track went off without a hitch today, says DOC. Photo: Supplied / DoC / Graham Dainty Demand for the Milford Track remains high, with the Great Walk selling out in just over half an hour today. The booking system has faced multiple crashes and false starts over the past two years , often coinciding with the opening of the popular Great Walk and causing frustration for trampers and tourism businesses. This prompted the Department of Conservation to upgrade its website and add an online queue system to ease the pressure. Director of heritage and visitors Cat Wilson said the new system coped well. "Really pleased that people have had a much better experience," she said. "We had 11,800 people queuing in the lobby at around 9:30 just as bookings opened and they were all into the booking system to make bookings for the 7000 spots on the Milford." It was all done and dusted in about 40 minutes. The feedback had been positive and Wilson was thrilled that the bookings were being made in a seamless way. There have been 23,500 bookings made so far across the Great Walks with the Routeburn and Milford tracks both experiencing high demand. Cat Wilson encouraged anyone who missed out to keep an eye out for cancellations or check out the other Great Walks on offer. Sign up for Ngā Pitopito Kōrero , a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Irish Times
5 days ago
- Business
- Irish Times
Irish bookings to US recover into 2026 following sharp fall
Irish bookings to the US are strong into 2026, according to the industry, following a brief collapse in travel across Europe widely attributed to political tensions and concerns over border controls. 'We did see a fall-off in bookings initially for the States [earlier in the year], but that has come back again,' said Ray Scully, managing director of American Holidays. Airlines reacted to softening demand with price discounts, while the exchange rate has also improved. Mr Scully said trading was about flat for the year, but bookings from October and into 2026 were now strong. 'I think people want to go to the States. So it's putting off the decision is what it looked like as opposed to, we're not going to travel,' he said of the recent lull. READ MORE The collapse in arrivals to the US from across Europe during March was widely perceived as a reflection of antipathy to the policies of the Trump administration. However, in Ireland at least, where travel to the US dropped 27 per cent at the end of the first quarter , data from the International Trade Administration (ITA) shows a 34 per cent bounce year on year for April. The steep turnaround has been put down to a number of factors influencing travel decisions, including a levelling off in sentiment on US politics and the fact that Easter fell at the end of March, disrupting comparative data. Eoghan Corry, editor of TravelExtra, noted that, as well as an increase in flight seats, Irish people are generally less inclined to stop visiting the US than other nationalities. 'So we are a little bit of an outlier in that we're probably a bit more resilient as a market to the negative publicity and the fears about US border control,' he said. 'The UK [which jumped 15 per cent in April] is more resilient as well because we're [both] very familiar with America. We don't see the Trump thing as being a game changer because all our cousins are there and we like people there and we're used to going over.' He noted that Ireland's 34 per cent bounce was not replicated across all European markets, despite countries such as France (down 12 per cent) having similar aviation timetables and Easter holidays. Overall passenger traffic from western European countries to the US dropped 17 per cent in March, according to the ITA, but that has bounced back and was up 12 per cent for April. The volte-face will be welcome news to US tourism following sharp commentary that came on foot of the March declines. Research firm Oxford Economics had said the fall-off in travel was attributable to an intensified 'America First' stance and the later timing of Easter. 'Policies and pronouncements from the Trump administration have contributed to a growing wave of negative sentiment,' it said. 'Heightened border security measures and visible immigration enforcement actions are amplifying concerns.'
Globe and Mail
23-05-2025
- Business
- Globe and Mail
Solitron Devices, Inc. Announces Fiscal 2025 Fourth Quarter and Fiscal Year 2025 Results
WEST PALM BEACH, Fla., May 23, 2025 (GLOBE NEWSWIRE) -- Solitron Devices, Inc. (OTC Pink: SODI) ('Solitron' or the 'Company') is pleased to announce fiscal 2025 fourth quarter and fiscal year 2025 results. FISCAL 2025 FOURTH QUARTER HIGHLIGHTS – Net sales decreased 22% to approximately $3.13 million in the fiscal 2025 fourth quarter versus $4.00 million in the fiscal 2024 fourth quarter. Net bookings increased 301% to $8.92 million in the fiscal 2025 fourth quarter versus $2.23 million in the fiscal 2024 fourth quarter. Backlog increased 62% to $18.11 million at the end of the fiscal 2025 fourth quarter as compared to $11.21 million at the end of the fiscal 2024 fourth quarter. Net loss was ($0.37) million, or ($0.18) per share, for the fiscal 2025 fourth quarter versus net income of $5.80 million, or $2.78 per share, for the fiscal 2024 fourth quarter. FISCAL YEAR 2025 HIGHLIGHTS - Net sales increased 10% to approximately $14.05 million in fiscal year 2025 versus $12.76 million in fiscal year 2024. Net bookings increased 62% to $20.76 million in fiscal year 2025 versus $12.84 million in fiscal year 2024. Backlog increased 62% to $18.11 million at the end of fiscal year 2025 versus $11.21 million as the end of fiscal year 2024. Net income decreased to $0.82 million, or $0.39 per share, in fiscal year 2025 versus $5.80 million, or $2.78 per share, in fiscal year 2024. Fiscal year 2024 net income benefited from two non-recurring events - a $2.24 million bargain purchase gain related to the acquisition of Micro Engineering, Inc. (MEI) and an income tax benefit of $3.02 million based on the release of the Company's deferred tax valuation. Fiscal year 2025 results include a full year of financial information for MEI, while fiscal year 2024 only contain two full quarters of MEI's financials based on the acquisition date of September 1, 2023. MEI contributed $6.08 million in revenue in fiscal year 2025. On a positive note, the Company had substantial bookings in the last two quarters from contracts related to the two largest defense programs we supply to. These programs typically order every 12-18 months, so we expect bookings to lag sales for next few quarters. We continue to see positive comments related to future production levels for both the AMRAAM and HIMARS programs. The CEO of RTX recently stated that AMRAAM production was scheduled to double in calendar year 2025 as compared to calendar year 2024 levels. HIMARS continues to perform well in Ukraine, and we have seen reports of possible production increases as well. Lockheed was just awarded a follow-on contract only a few months after the previous award, which should lead to a supplemental order within the next few quarters. Foreign demand for both systems is strong. Foreign sales are typically included as part of normal production orders for both programs. On a negative note, revenue was down in the fourth quarter due to the lag time between receipt of orders and production. In the fourth quarter of fiscal year 2025, revenue was $3.13 million. We expect soft revenues in the first quarter of fiscal year 2026, ending May 31, 2025, and for sales to pick up at the end of the fiscal second quarter, before reaching a steadier level in the fiscal third quarter. We continue to see increased interest in new product development, including silicon carbide. We have developed various prototypes for testing by potential customers and continue to be optimistic about creating additional revenue sources. For The Three Months Ended For The Three Months Ended For The Fiscal Year Ended For The Fiscal Year Ended February 28, 2025 February 29, 2024 February 28, 2025 February 29, 2024 unaudited unaudited Net sales $ 3,131 $ 4,004 $ 14,049 $ 12,757 Cost of sales 2,554 2,778 10,057 8,950 Gross profit 577 1,226 3,992 3,807 Selling, general and administrative expenses 748 858 2,994 2,873 Operating income (loss) (171) 368 998 934 Other income (loss) Interest income - 4 6 29 Interest expense (73) (69) (272) (177) Dividend income 30 2 70 29 Realized gain (loss) on investments 80 - 127 332 Unrealized gain (loss) on investments (62) 166 65 (579) Bargain purchase gain - 2,236 - 2,236 Other expense - (46) - (27) Total other income (loss) (25) 2,293 (4) 1,843 Net income (loss) before income tax (196) 2,661 994 2,777 Income tax (expense) benefit (178) 3,024 (178) 3,024 Net income (loss) $ (374) $ 5,685 $ 816 $ 5,801 Net income (loss) per common share - basic and diluted $ (0.18) $ 2.73 $ 0.39 $ 2.78 Weighted average shares outstanding - basic and diluted 2,082,553 2,083,436 2,082,553 2,083,436 February 28, 2025 February 29, 2024 ASSETS CURRENT ASSETS Cash and cash equivalents $ 4,099 $ 2,217 Marketable securities 919 904 Accounts receivable 2,129 2,826 Inventories, net 3,440 4,132 Prepaid expenses and other current assets 132 532 TOTAL CURRENT ASSETS 10,719 10,611 Property, plant and equipment, net 8,635 7,356 Finance lease, right of use asset - 1,715 Intangible assets 2,905 3,114 Deferred tax asset 1,622 1,837 Other assets 555 107 TOTAL ASSETS $ 24,436 $ 24,740 LIABILITIES AND STOCKHOLDERS ' EQUITY CURRENT LIABILITIES Accounts payable $ 439 $ 439 Customer deposits 118 539 Accrued contingent consideration, current 570 465 Finance lease liability - 1,750 Mortgage loan, current portion 152 111 Accrued expenses and other current liabilities 846 1,080 TOTAL CURRENT LIABILITIES 2,125 4,384 Accrued contingent consideration, non-current 663 751 Mortgage loan, net of current portion 3,765 2,537 TOTAL LIABILITIES 6,553 7,672 STOCKHOLDERS' EQUITY Preferred stock, $.01 par value, authorized 500,000 shares, none issued - - Common stock, $.01 par value, authorized 10,000,000 shares, 2,082,553 shares outstanding, net of 487,827 treasury shares at February 28, 2025 and 2,083,436 shares outstanding, net of 487,827 treasury shares at February 29, 2024, respectively 21 21 Additional paid-in capital 1,834 1,834 Retained earnings 17,440 16,625 Less treasury stock (1,412) (1,412) TOTAL STOCKHOLDERS' EQUITY 17,883 17,068 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 24,436 $ 24,740 The unaudited financial information disclosed in this press release for the three months ended February 28, 2025, is based on management's review of operations for that period and the information available to the Company as of the date of this press release. The Company's results included herein have been prepared by, and are the responsibility of, the Company's management. The Company's independent auditors have audited the Company's results for the fiscal year ending February 28, 2025. The financial results presented herein should not be considered a substitute for the information filed or to be filed with the SEC in the Company's Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the respective periods once such reports become available. About Solitron Devices, Inc. Solitron Devices, Inc., a Delaware corporation, designs, develops, manufactures, and markets solid state semiconductor components and related devices primarily for the military and aerospace markets. The Company manufactures a large variety of bipolar and metal oxide semiconductor ('MOS') power transistors, power and control hybrids, junction and power MOS field effect transistors ('Power MOSFETS'), and other related products. Most of the Company's products are custom made pursuant to contracts with customers whose end products are sold to the United States government. Other products, such as Joint Army/Navy ('JAN') transistors, diodes, and Standard Military Drawings voltage regulators, are sold as standard or catalog items. Effective September 1, 2023, Solitron closed its acquisition of Micro Engineering Inc. (MEI) based in Apopka, Florida. MEI specializes in solving design layout and manufacturing challenges while maximizing efficiency and keeping flexibility to meet unique customer needs. Since 1980 the MEI team has been dedicated to overcoming obstacles to provide cost efficient and rapid results. MEI specializes in low to mid volume projects that require engineering dedication, quality systems and efficient manufacturing. Forward-Looking Statements This press release contains forward-looking statements regarding future events and the future performance of Solitron Devices, Inc. that involve risks and uncertainties that could materially affect actual results, including statements regarding the Company's expectations regarding future performance and trends, including production levels, government spending, backlog and delivery timelines, new product development, our efforts and performance following our acquisition of MEI, and potential future revenue and trends with respect thereto from each of the foregoing. Factors that could cause actual results to vary from current expectations and forward-looking statements contained in this press release include, but are not limited to, the risks and uncertainties arising from potential adverse developments or changes in government budgetary spending and policy including with respect to the war in Ukraine, which may among other factors be affected by the possibility of reduced government spending on programs in which we participate, inflation, elevated interest rates, adverse trends in the economy and the possibility of a recession the likelihood of which appears to have increased based on recent economic data, the possibility that management's estimates and assumptions regarding bookings, sales and other metrics prove to be incorrect; the timing and size of orders from our clients, our delivery schedules and our liquidity and cash position; our ability to make the appropriate adjustments to our cost structure; our ability to properly account for inventory in the future; the demand for our products and potential loss of, or reduction of business from, substantial clients our dependence on government contracts, which are subject to termination, price renegotiations and regulatory compliance and which may among other factors be adversely affected by the factors described elsewhere herein, our ability to continue to integrate MEI in an efficient and effective manner, and the possibility that such acquisition or any other acquisition or strategic transaction we may pursue does not yield the results or benefits desired or anticipated. Descriptions of other risk factors and uncertainties are contained in the Company's Securities and Exchange Commission filings, including its most recent Annual Report on Form 10-K for the fiscal year ended February 28, 2025.
