Royal Caribbean Cruise Line posted net income of $30.7 million on revenues of $268.8 million in its third quarter ended October 2, 1992, compared to net income of $8.5 million on revenues of $1982 for the same quarter a year ago.
The company attributed the increased earnings to increased capacity, economies of scale, higher revenue yields and increased operating margins resulting from improved cost controls.
Net income for the first nine months of fiscal 1992 was $52.8 million, compared to $22 million for the same period last year. Revenues for the nine months were $757.4 million in 1992 compared to $546 million in 1991.
RCCL carried 230,934 passengers in its third quarter in 1992 compared to 191,982 a year ago, and 616,843 passengers for the nine month period compared to 503,260 a year ago.
RCCL launched the Majesty of the Seas in November of 1991 and the Monarch of the Seas in April 1992 and the Viking Serenade returned to service in June of 1991 after a five month rebuild.
1991 revenues were also negatively impacted by the fire incident that delayed the introduction of the Majesty and start-up costs associated with introducing two megaliners within a six month period.