Royal Caribbean's First Quarter Net Rises 17 Percent

Royal Caribbean Cruises Ltd., a leading cruise ship company, on Monday reported a 17 percent rise in first-quarter net income. The company posted a net income of $105.5 million for the first quarter. That compared with net income of $90.2 million in the year-ago quarter.

Royal Caribbean's first-quarter revenues rose to $707.8 million from $610 million, up 16 percent. A 15.3 percent rise in capacity, buoyed by millennium New Year's cruises and customer demand for time on the company's Voyager of the Seas vessel, helped the revenue growth, Royal Caribbean said.