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ROYAL CARIBBEAN REPORTS 55 PERCENT INCREASE IN SECOND QUARTER PROFITS

 MIAMI, July 27 /PRNewswire/ -- Royal Caribbean Cruises Ltd. (NYSE: RCL) announced today an increase in net income to $27.5 million or $.47 per share on revenue of $276.9 million for the second quarter ended July 2, 1993. This compares to net income of $17.7 million or $.34 per share on revenue of $255.4 million for the same quarter of 1992.
 Operating income for the second quarter was $40.5 million compared to $35.3 million for the same quarter in 1992, a reflection of the increased revenues and improved operating margins. Revenue increased 8.4 percent over the comparable quarter in 1992. The company's revenue growth includes a 5.0 percent increase in per berth fleet yields.
 Net income for 1993's first six months was $47.7 million or $.86 per share, compared to net income of $22.1 million or $.43 per share for the prior year. Total revenues for the six-month period rose 16.3 percent to $547.3 million in 1993 from $470.6 million in 1992. Operating income increased to $79.4 million in 1993 from $58.2 million in 1992. The company's interest expense was favorably affected by its continued deleveraging and lower interest rates during the quarter. Additionally, improved financing terms from the company's lenders had a positive impact on interest expense.
 Richard D. Fain, chairman and CEO of Royal Caribbean stated, "We're pleased with Royal Caribbean's second quarter performance. It's gratifying to see that our 'Breakthrough Pricing' program has resulted in steady improvement in our yields, and coupled with our cost containment efforts, have contributed to our continued earnings growth."
 Royal Caribbean is the world's largest cruise brand by passenger capacity and operates nine modern ships with 14,228 lower berths. Additionally, Royal Caribbean has contracted for the construction of two additional 1,800-passenger ships for delivery in 1995 and 1996 with an option for a third in 1997. The award-winning vessels of the Royal Caribbean fleet offer more than 50 different itineraries and call at nearly 130 destinations in the Mediterranean, Bermuda, Scandinavia, Alaska, Bahamas, Mexico, Transcanal, Russia and the Caribbean.
 ROYAL CARIBBEAN CRUISES LTD.
 SUMMARY FINANCIAL DATA
 SECOND QUARTER FIRST SIX MONTHS
 1993 1992 1993 1992
 Revenues (000s) $276,895 $255,404 $547,302 $470,588
 Operating income
 (000s) $40,513 $35,332 $79,418 $58,203
 Net Income (000s) $27,510 $17,720 $47,674 $22,114
 Net Income
 Per Share $.47 $.34 $.86 $.43
 Passenger Cruise
 Days 1,246,895 1,230,166 2,453,109 2,232,746
 Weighted Avg.
 Shares
 Outstanding 59,368,124 51,785,706 55,576,915 51,785,706
 -0- 7/27/93
 /CONTACT: Lloyd Axelrod or Rich Steck of Royal Caribbean Cruises Ltd., 305-539-6573/
 (RCL)


CO: Royal Caribbean Cruises Ltd. ST: Florida IN: LEI SU: ERN

AW-SB -- FL008 -- 6447 07/27/93 17:01 EDT
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Publication:PR Newswire
Date:Jul 27, 1993
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