Announcing its 2015 earnings today, Lindblad Expeditions posted net income of $19.7 million, or $0.43 per share, on total revenues of approximately $210 million, compared to net income of $22.2 million, or $0.44 per share, on total revenues of approximately $199 million in 2014.

Based on its filings, Lindblad posted gross revenue of $1,240 per passenger day last year, up from $1,185 the year before. The gross profit per passenger day last year was $676.70 up from $647.57 the previous year.

Net income per passenger day was $116.61 last year and $132.82 the year before.

According to company executives, last year’s revenue increase was driven by higher pricing and itinerary changes, offset by slightly lower occupancy.  The load factor was 91.8 percent last year and 92.9 percent the year before.

Higher costs, however, ate up the revenue and gross profit increase in 2015. General and administrative costs were up, as were selling and marketing, and interest, in addition to merger related expenses.

Without merger-related expenses, Lindblad could have posted net income of about $33 million for 2015, compared to $22.2 million in 2014. That would have boosted the net income per day to $194.92.

The guidance for 2016 is for revenues of $217 million and EBITDA of $51 million. In 2015, the EBITDA was $39.6 million and $41.6 for 2014.

Lindblad did not provide a guidance for net income. As of March 7, the company’s cruises were 85 percent booked compared to 89 percent last year.

Lindblad has ordered two 100-passenger newbuilds for coast cruising, slated for deliveries in 2017 and 2018. The company has also acquired the 100-passenger Via Australis, which will be refurbished and enter service in the Galapagos in the fourth quarter. She will be replacing the Endeavour.

On today’s call, the company also said it will consider opportunistic acquisitions both in terms of ships and companies. April 6 is the launch date for Lindblad’s 50th anniversary celebrations.

Lindblad’s shares rose in trading today to $10.40 from opening at $9.73. The 52-week range is from $8.70 to $12.00.