Royal Caribbean 1999 Earnings

Royal Caribbean International (RCI) has reported net income of $383.9 million, or $2.06 per share, on revenues of $2.5 billion for the year ended Dec. 31, 1999, compared to net income of $330.8 million, or $1.83 per share on revenues of $2.6 billion for 1998.

RCI attributed the decline in revenues primarily to a three percent decrease in capacity in 1999. Increased net earnings were due to reduced operating expenses and lower interest expense.

RCI also reported 11,227,195 passenger cruise days for 1999 and a load factor of 104.7 percent, compared to 11,607,906 passenger days and a load factor of 105.2 percent for 1998.

For the fourth quarter ended Dec. 31, 1999, RCI reported net income of $38.3 million, or $0.19 per share, on revenues of $584 million, compared to net income of $23.4 million, or $0.12 per share, on revenues of $575.1 million for the same period in 1998.

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