RCCL Posts $70.8 Million Net Income in Fourth Quarter

Royal Caribbean Cruises Ltd. recorded $70.8 million in net income for the fourth quarter of 2007, a 51.9 percent increase over its fourth-quarter earnings in 2006. Revenues were better than expected, RCCL said; it posted $1.5 billion in the fourth quarter.

Fuel prices increased 41 percent compared with the fourth quarter of 2006; RCCL’s fuel costs per available passenger capacity day increased 19 percent, “benefiting from energy saving initiatives and hedging,” the company said.

In a statement, CEO Richard Fain said that despite pressures on consumer spending, yields for 2007 were consistent with the company’s original expectations, growing .3 percent on a comparable basis.

Net income for the full year 2007 was $603.4 million, a 4.8 percent decline over 2006. Revenue increased to $6.1 billion, a 17 percent increase.