Royal Caribbean Cruises Ltd. (RCL) Monday said it turned to fourth-quarter loss, hurt mainly by a hefty impairment charge. The company also provided a full-year outlook which is currently below analysts' expectations.
Net loss for the quarter was $392.80 million or $1.80 per share, compared to $36.56 million or $0.17 per share in the same period last year.
Fourth-quarter included $385.44 million in impairment charge of Pullmantur related assets. Comprehensive loss for the period totaled $384.23 million.
On average, 20 analysts polled by Thomson Reuters expected the company to earn $0.06 per share for the quarter. Analysts' estimates typically exclude special items.
Revenues increased to $1.81 billion from $1.78 billion last year. Analysts expected revenues of $1.82 billion.
Looking ahead to the fiscal year 2013, the company has forecast earnings in a range of $2.30 to $2.50 per share. Analysts currently expect full-year earnings of $2.67 per share.
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