Royal Caribbean Reports 2001 Results

Tuesday, January 29, 2002
Royal Caribbean Cruises Ltd. announced earnings for the year of $254.5 million, or $1.32 per share, compared with $445.4 million, or $2.31 per share in 2000. Earnings were negatively impacted during the year by the events of September 11 and ships out of service, partially offset by insurance proceeds. Excluding the impact of these items, net income would have been $318.9 million, or $1.65 per share. Revenues for the year were up 9.7 percent at $3.1 billion, compared with $2.9 billion in 2000. The increase in revenues for the year was due to a 20.8 percent increase in capacity, offset by a decline in net yields (net revenue per available berth day) of approximately 9 percent.

Revenues for the fourth quarter were $656.0 million, up 2.2 percent from $642.1 million in 2000. The increase in revenues was due primarily to the increase in capacity in the quarter, partially offset by a change in yields. Net revenue yields for the quarter were down 10.7 percent, primarily due to the impact of the events of September 11. During the quarter, the company significantly reduced its cost structure. Operating expenses and SG&A were down approximately 10 percent on a per-available-berth-day basis from the same quarter in 2000. Also included in the quarter were $6.5 million, or $0.03 per share, in severance expenses related to the previously announced shoreside reduction in workforce. The company reported a net loss of $39.0 million for the quarter, as compared with net income of $30.1 million, or $0.16 per share, in the fourth quarter of 2000.

Maritime Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Deltamarin to Designs First LNG Handysize Bulk Carriers

Deltamarin Ltd proudly announces that it has signed a contract to design the world’s first LNG handysize bulk carriers, which will point the way towards greener shipping of commodities.

Shipping to See Further Consolidation

The CMA CGM's move to buy Singapore’s Neptune Orient Lines (NOL), could lead to one of the biggest acquisitions in the shipping container industry in years.   If it goes through,

Idling Fleet Continues to Surge

Owners are rapidly laying up containerships as the market slows. The size of the idle fleet will get bigger while rates and profits slide, says Drewry Shipping Consultants Limited.

Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0559 sec (18 req/sec)