192 
Fishery Bulletin 107(2) 
Aug Sep Oct Nov Dec Jan Feb Mar 
Fishing season 
Average monthly revenues resulting for the season with highest (1997-98) (•) and lowest (2001-02) (O) spiny lobster 
( Panulirus argus) stock abundance and their respective q estimates for the trap fishery in three regions in South Florida: 
(A) Key West, (B) Middle Keys, and (C) Miami. 
The total costs results were used in the seasonal fi- 
nancial analysis for the outcome of fishing for lobsters 
in the regions. The case scenarios in the regional analy- 
ses considered 1) the estimated CPUEs for the seasons 
with the highest (1997-98), and lowest (2001-02) stock 
abundance, and 2) the estimated CPUEs for the seasons 
with the highest and the lowest abundance standard- 
ized to the catchability coefficients corresponding to the 
1991-92 fishing season (prior to the TCP) and to the 
2001-02 fishing season (ten years later). 
Case scenario 1: For Key West, two very different 
monthly revenue trends resulted for the fishing sea- 
sons with the highest and the lowest stock abundance 
relative to the 2003-04 costs and values per kilogram 
(Fig. 6A). The difference in stock abundance had a very 
significant and striking financial impact, the total sea- 
sonal revenue was $47,922 for 1997-98 (highest abun- 
dance) and $11,985 for 2001-02 (lowest abundance). In 
the case of the Lower Keys the monthly revenues for 
2001-02 were almost negligible. In the Lower Keys the 
total seasonal revenues were $15,851 for the 1997-98 
fishing season, and $3227 for the 2001-02 season. The 
seasonal revenue trends for the Middle Keys indicate 
that the revenue differences were very significant be- 
tween the two seasons. The total seasonal revenues 
for the Middle Keys were $35,505 and $4,266 for the 
1997-98 and 2001-02 fishing seasons, respectively 
(Fig. 6B). The seasonal revenue trends for the Upper 
Keys show that the total seasonal revenues were very 
different: $31,204 for the 1997-98, and $6324 for the 
2001-02 fishing seasons. In the case scenario results for 
Miami the total seasonal revenues were $31,619 for the 
1997-98 fishing season, and $16,422 for the 2001-02 
fishing season (Fig. 60. 
Generally, the 2001-02 monthly revenues in each 
of the regions were indicative of a fishery undergo- 
ing significant economic troubles given that revenues 
after November were insufficient to maintain a viable 
fishery. This generic condition is clearly due to the low 
abundance of the resource adopted in this particular 
