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Norwegian Cruise Line Posts Profit In Q4, Stock Rises - Update

Norwegian Cruise Line Holdings Ltd. (NCLH) Monday reported a profit for the fourth quarter, compared to a loss last year, helped by higher revenues and a grip on expenses. The stock rose nearly 4 percent in the extended trade.

Net income for the quarter was $1.05 million or $0.01 per share, compared to a net loss of $1.94 million or $0.01 per share last year.

Excluding a share-based compensation charge, net earnings for the latest quarter were $5.6 million or $0.04 per share.

Two analysts polled by Thomson Reuters expected earnings of $0.01 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue for the quarter rose to $503.17 million from $488.59 million a year ago. Analysts expected $512.70 million for the quarter.

The company attributed the revenue increase to slightly higher capacity days and a net yield improvement of 2.5 percent from higher ticket pricing and onboard spend per capacity day.

Cruise operating expense advanced to $344.59 million from $343.38 million.

Kevin Sheehan, CEO, said, ''We are very pleased to begin our journey as a public company by posting strong results for 2012. In addition, our fourth quarter results marked our eighteenth consecutive quarter of year-over-year Adjusted EBITDA growth."

Looking forward, the company forecast adjusted earnings of $0.02 to $0.05 per share for the first quarter. Analysts currently expect the company to report a loss of $0.01 per share for the first quarter.

Excluding items, full year earnings are seen in the range of $1.20 to $1.40 per share. Wall Street currently expects the company to earn $1.26 per share for 2013.

NCLH settled down 0.8 percent at $27.68 on Monday, but added 3.7 percent in the extended trade.

by RTT Staff Writer

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