Royal Caribbean Cruises Ltd. Announces Second Quarter Earnings

[JoeyandDavid]

MIAMI, July 21 /PRNewswire-FirstCall/ -- Royal Caribbean Cruises Ltd. (NYSE: RCL, Oslo).

• Key Highlights
  • Second Quarter Net Income of $84.7 million, or $0.40 per share.
  • Cost savings program expected to save approximately $125 million annually.
• Revenue environment remains solid:
  • Net Yields expected to be up 3% to 4 % for the full year.
  • Full year 2008 results in line with original expectations except for fuel.
  • 2009 load factors and pricing ahead of same time last year.
• At current fuel prices, full year 2008 earnings per share expected to be $2.55 to $2.65, including estimated restructuring-related expenses of $15 million, or $0.07 per share.

Royal Caribbean Cruises Ltd. today announced net income for the second quarter 2008 of $84.7 million, or $0.40 per share, compared to a net income of $128.7 million, or $0.60 per share, for the second quarter 2007. Net Income for the first six months was $160.4 million or $0.75 per share, compared to net income of $137.6 million, or $0.64 per share, for the same period last year.

Full Press Release

[JoeyandDavid]

A nice rebound today....From the conference call what i could surmise were positives..

1) they were able to hedge some of the cost of fuel better than expected.

2) new fleet of ships are mega money makers both in marketing and efficiency.

3) the reduction on non essential personal

4) sales of cabins are ahead of last years pace

5) subtracting the increase cost of fuel there was an increase in profit.

At least thats what I think heard...Did anyone else listen? I will of course listen to it again to make sure....

As a disclaimer..(we own enough /shares/stock to receive shareholder benefits)