The Overseas Shipholding Group has reported that Celebrity Cruises posted net income of 1.7 million on revenues of $77.9 million for the three month period ended March 31, 1993, compared to a net loss of $431,158 on revenues of $68 million for the previous quarter.

Costs and expenses were reported to be $76 million in the first quarter compared to $70 million in the fourth quarter of last year. (Expenses were then partially offset by the gain from the sale of a ship.)