Royal Caribbean Cruises Ltd (RCCL), the world’s second largest cruise shipping group, reported 2011 full year net income of $607.4 million, or $2.77 per share, versus $515.7 million, or $2.37 per share, in 2011. Fourth quarter 2011 net income was $36.6 million, or $0.17 per share, versus $31.9 million, or $0.15 per share, in 2010.
Analysts had forecast on average earnings per share (eps) of $0.15 for the final quarter and $2.75 for the full year.
For the full year, net yields increased 2.4% on a Constant-Currency basis (+4.1% As-Reported.) Net Cruise Costs ("NCC") excluding fuel increased 1.3% on a Constant-Currency basis (+2.3% As-Reported.). Final quarter Net Yields increased 3.5% on a Constant-Currency basis (+3.2% As-Reported.) Net Cruise Costs per APCD ("NCC") excluding fuel increased 3.7% on a Constant-Currency basis (+3.6% As-Reported.)
“The year ended on a strong note with good bookings and cost control more than compensating for the increased cost of fuel and foreign exchange impacts,” the company said in a statement.