- Font:
- +
- -
(Reuters) - Royal Caribbean Cruises Ltd
The cruise operator expects net yields, which reflect revenue from passenger tickets as well as what customers spend while on board, to be up between 2 percent and 4 percent, excluding currency fluctuations and anticipates 2013 earnings of $2.30 per share to $2.50 per share.
While revenue in the fourth quarter was a bit weaker than expected, Royal Caribbean said bookings in recent weeks were about 20 percent higher than a year earlier, when demand was severely dented after the Costa Concordia, a ship operated by Royal Caribbean's larger rival Carnival Corp & Plc,
The company expects record yields on its Caribbean and Alaska itineraries to "more than offset" slow demand in Europe, where a weak economy, particularly on its Mediterranean rim, and lingering impact from the Costa Concordia have hurt sales.
"Looking forward, we see a tale of two continents; North America is doing well, while parts of Europe continue to be a challenge," Chief Executive Richard Fain said in a statement.
Royal Caribbean reported a fourth-quarter net loss of $392.8 million, or $1.80 per share, on revenue of $1.81 billion, compared with a profit of $36.6 million, or 17 cents per share, on revenue of $1.78 billion a year earlier.
The loss stemmed from a $413.9 million impairment charge related to its Spanish cruise line Pullmantur, which has been hit by austerity measures in that country.
Excluding that, Royal Caribbean reported a profit of 10 cents, beating Wall Street estimates by 4 cents, according to Thomson Reuters I/B/E/S/.
In December, Carnival gave a weak 2013 forecast that suggested the cruise industry was not recovering as quickly from the disaster as previously hoped following the disaster.
Shares in both companies were up 1 percent in premarket trading.
(Reporting by Phil Wahba in New York; Editing by Gerald E. McCormick & Theodore d'Afflisio)
(c) Copyright Thomson Reuters 2013. Check for restrictions at: http://about.reuters.com/fulllegal.asp
“ ”