Kloster Cruise has reported net income of $7.5 million on revenues of $215.2 million for the third quarter ended Sept. 30, 1995, compared to net income of $6.5 million on revenues of $230 million for the same quarter last year.
For the nine-month period, Kloster reported a loss of $16.2 million on revenues of $598.4 million compared to a loss of $5.9 million on revenues of $675.8 million last year.
Kloster Cruise operated nine ships in 1995 compared to 12 ships in 1994. The sale of three ships contributed $1.2 million in the third quarter of 1994.
Kloster also reported 886,285 passenger cruise days in the third quarter for a load factor of 101.8 percent compared to 101.3 percent last year, and 98.3 percent for the nine-month period of this year compared to 95.2 percent last year.
Based on the limited numbers made available at press time, Kloster Cruise posted $242.85 in revenue per passenger day for the third quarter of 1995 compared to $240.98 for the same period in 1994.
Operating income per passenger day was $32.78 in the third quarter of 1995 compared to $33.87 for the same period in 1994.
Net income per passenger day was $8.40 in 1995 compared to $6.78 in 1994.
For the nine-month period in 1995, Kloster posted $237.74 in revenue per passenger day compared to $239.93 for the same period in 1994.
Operating income per passenger day was $19.16 for the nine-month period this year, compared to $22.89 last year.
This year, Kloster Cruise lost $10.14 per passenger day for first nine months compared to earning $3.83 per passenger day in the same period last year.
Commenting on the results, Kloster President and Chief Executive Adam Aron said, “In the third quarter of 1995 the company’s yields were up slightly despite the continued softness of the industry.
“Norwegian Cruise Line’s results were impressive in the third quarter of 1995, experiencing a 6.9 percent improvement in yields and a $2.2 million improvement in net operating income. Although improvements have been achieved at NCL, Royal Cruise Line continues to experience softness in earnings, offsetting the improvements at NCL.”
Aron attributed decreased revenues to decreased capacity as a result of selling three ships.