Thursday, July 27, 2006

RCI 2nd Quarter Better Than Expected ...

Cheers to Onboard Profit Centers: Despite angst over a soft Caribbean summer season forcing deeper discounting, combined with other cruise industry woes, along comes Royal Caribbean International with a better than expected second quarter (net income of $122.4 million, or $0.57 per share), plus second quarter net yield growth of 6%, versus forecast of 5%. With delivery of Freedom of the Seas, things might have been even rosier, had it not been for second quarter net cost hikes, much of it from fuel. Other notables: For the full year '06, RCI expects net yields to increase 3% to 4% and earnings per share to be $2.90 to $3. For the third quarter, RCI expects net yields to increase 1% to 2%, and pegs its earnings per share at $1.52 to $1.57.

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