Regent Seven Seas Posts Profit

Regent Seven Seas Cruises has posted net income of $11.5 million on revenues of $485.9 million for the year ended Dec. 31, 2011, compared to net income of $11.8 million on revenues of $449.2 million for 2010.

The company also reported gross revenues per passenger day to be $788.16 — $709.80 per day for tickets and $78.36 in onboard revenue. Net revenue per day was $524.39 — $475.54 for tickets and $58.85 for onboard spending. Net income per passenger day was $18.73 for last year, compared to $19.52 the previous year.

Year-over-year, the cruise line said net yield was up 0.4 percent driven by higher occupancy and higher net per diem. However, operating costs were up $44.4 million or 15.6 percent, driven mainly by commissions and transportation. Payroll and fuel costs were also up.

For 2010, net revenue was $517.98 — $457.82 for tickets per passenger day and onboard spending, $60.16.

The occupancy factor for 2011 was 91.9 percent and 89.5 percent for 2010.

For 2011, fuel costs were 8.3 percent of revenues and $65.84 per passenger day. Food costs were included with payroll and related items.

For Q4, Regent posted a loss of $6.4 million on revenues of $107.9 million for 2011, compared to a loss of $8.3 million on revenues of $96.6 million last year.

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