FONT-SIZE Plus   Neg

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

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Environment ministry of South Korea Thursday ordered Volkswagen Korea to recall 125,522 diesel vehicles on determining actual emissions of nitrogen oxides. The ministry has asked the German automobile maker to pay a fine of 14.1 billion Won or $12.31 million. The company has to submit a recall plan by January 6, 2016. The U.S. Food and Drug Administration has alerted health care professionals and patients of a voluntary recall of compounded multivitamin capsules containing high amounts of Vitamin D3 (Cholecalciferol), distributed nationwide by Glades Drugs in Pahokee, Florida. FDA has received reports of several... Flying is the passion for British aviatrix Tracey Curtis Taylor, and she is now on a solo flight to cross three continents and 23 countries in her own vintage open cockpit biplane. She has already crossed half of her journey from U.K. to Australia with a target to cover 13 thousand miles.
comments powered by Disqus
Follow RTT