News Column

BRIEF: Norwegian Cruise Line reports profitable quarter, year

February 18, 2014

By Hannah Sampson, The Miami Herald

Feb. 18--Norwegian Cruise Line, which launched its new Miami-based ship earlier this month, reported increased revenues and profits in the fourth quarter.

The Doral-based cruise operator released financial results for the quarter and all of 2013 early Tuesday morning. Quarterly revenues increased from $503 million to just over $600 million, while profits jumped from about $1 million to more than $36 million.

Adjusted net cruise costs for the quarter, excluding fuel, increased 7.6 percent.

For the full year, revenues jumped from about $2.3 billion in 2012 to approximately $2.6 billion in 2013. Profits were down, however, to nearly $102 million from $168 million in 2012. The company said adjusted net income was nearly $296 million; that excludes prepayment and refinancing of credit facilities and the redemption of some senior notes in connection with the company's early 2013 initial public offering and refinancing activities.

Norwegian welcomed its newest ship, the 3,969-passenger Norwegian Getaway, to Miami earlier this month.


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Source: Miami Herald (FL)

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