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RCCL Posts Record EarningsFebruary 2, 2006 By: Susan Young Travel Agent
Royal Caribbean Cruises Ltd., parent company of Royal Caribbean International and Celebrity Cruises, posted record annual net income of $716 million on revenues of $4.9 billion for 2005; that compares to $475.7 million in net income on revenues of $4.6 billion for 2004. Still, RCCL's fourth quarter yielded a net loss of $3.6 million, but that was better than the $25.8 million net loss for the same quarter in 2004. On the positive side, fourth quarter yields were also up 8.2 percent, also much better than the line had anticipated. RCCL cited that change to strong consumer demand that drove cruise fares higher, as well as strong onboard revenue. RCCL projected that for the full year 2006, its net yields should increase two to four percent.