Star Cruises has reported net income of $90.2 million, or $0.14 per share, on revenues of $391.7 million for the year ended Dec. 31, 1999, compared to net income of $39.2 million, or $0.07 per share, on revenues of $268.5 million for 1998.
Star also reported 2,040,859 passenger cruise days for 1999 and a load factor of 101 percent, compared to 1,280,967 passenger days and a load factor of 88 percent for 1998.
According to Star, earnings and revenue growth were driven by a 39 percent increase in available capacity days in 1999 compared to 1998.
Star Cruises will see a further capacity increase of 45 percent this year and has targeted what it called the mass markets of South Korea and Japan with one of its ships, the Superstar Taurus.
Fourth-quarter net income was $25.3 million, or $0.94 per share, on revenues of $114.4 million, in 1999, compared to net income of $11.1 million, or $0.02 per share, on revenues of $72.7 million in 1998.