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ROYAL CARIBBEAN REPORTS RECORD SECOND QUARTER PROFITS

 ROYAL CARIBBEAN REPORTS RECORD SECOND QUARTER PROFITS
 MIAMI, July 28 /PRNewswire/ -- Royal Caribbean Cruises Ltd. (RCCL)


announced today a sharp increase in net income to $17.7 million on revenue of $255.4 million for the second quarter ended July 3, 1992. This compares to a net loss of $5.3 million on revenue of $172.4 million for the same quarter in 1991.
 Revenue increased 48.1 percent over the comparable quarter in 1991, despite the U.S. economy's sluggish recovery from the recession. The company's revenue increase is attributed in part to a 39.8 percent increase in passenger cruise days resulting from the introduction of RCCL's two new 2,354-passenger mega-ships, Majesty of the Seas and Monarch of the Seas, in April 1992 and November 1991 respectively, plus the return to service of the 1,514-passenger Viking Serenade following a five-month conversion to increase its capacity.
 Operating income for the second quarter was $35.3 million, compared to $6.2 million in 1991, which reflects the expanded fleet capacity, economies of scale and the higher revenue yields being achieved on the company's newest mega-ships. Included in the 1992 second quarter results is a net gain of $3.9 million from the sale of two ships, Azure Seas and Emerald Seas.
 Net income for 1992's first six months was $22.1 million, compared to a net loss of $6.3 million for the first six months of 1991. Total revenues for the six-month period rose 35.3 percent from $347.8 million in 1991 to $470.6 million in 1992. Operating income increased from $19.4 million in 1991 to $58.2 million in 1992.
 Richard Fain, chairman and CEO of Royal Caribbean stated, "We have been preparing for this new capacity for some time and it is nice to see our plans so favorably impact the bottom line. The investment in building up our infrastructure over the past 18 months to prepare for this huge growth in capacity is now clearly paying off despite the strong pressure the economy is exerting on our revenue."
 Royal Caribbean is the world's largest cruise brand by passenger capacity and pampers passengers with superlative service aboard its modern fleet of nine ships. Itineraries include the Caribbean, Bahamas, Bermuda, Panama Canal, Alaska, Mexico, Europe, Mediterranean, Baltic, Greek Isles, Scandinavia/Russia, British Isles, North Cape/Norwegian Fjords, Africa and the Canary Islands.
 ROYAL CARIBBEAN CRUISE LTD.
 Summary Financial Data
 SECOND QUARTERS FIRST SIX MONTHS
 1991 1992 1991 1992
 Revenues (000s) $172,402 $255,404 $347,775 $470,588
 Operating
 Income (000s) 6,216 35,332 19,436 58,203
 Net Income
 (loss) (000s) (5,253) 17,720 (6,280) 22,114
 Passenger Cruise
 Days 880,076 1,230,166 1,689,816 2,232,746
 Passengers Carried 160,822 209,397 311,278 385,909
 -0- 7/28/92 R
 /CONTACT: Lloyd Axelrod or Rich Steck of Royal Caribbean Cruises Ltd., 305-539-6573/ CO: Royal Caribbean Cruises Ltd. ST: Florida IN: LEI SU: ERN


JB-AW -- FL010 -- 4328 07/28/92 17:56 EDT
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Publication:PR Newswire
Date:Jul 28, 1992
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