Royal Caribbean Income Soars 27%

While its stock price remains in the doldrums, Royal Caribbean Cruises Ltd. nonetheless reported a 27 percent rise in second quarter 2000 net income along with a boost in capacity. RCCL, which is listed in New York and Oslo, said net income for the three months to June 30 jumped to $108.3 million from $85.3 million in the year-earlier period. Revenues rose to $680.7 million from $617.7 million, it said in a statement. It said the occupancy rate was 106.1 percent in the second quarter, up from 104.8 percent in same 1999 period. Net revenue yields, or the net revenue per available passenger cruise day, were up two percent. It said for the six-month period ending on June 30, its net income climbed 22 percent to $213.8 million along with a 13 percent increase in capacity. Revenues in the first half rose 13 percent to $1.4 billion. The occupancy rate for the first six months was 103.9 percent, compared with 103.4 percent the year-ago period.