Royal Caribbean turns small Q4 profit

Royal Caribbean Cruises Ltd. (RCCL) said it had a net profit of $7 million in the fourth quarter and $473.7 million for all of 2013.

That compares with a 2012 fourth quarter loss of $392.8 million and a full-year profit of $18.3 million, reflecting a large charge for the write down of Spanish brand Pullmantur last year.

Revenue for the quarter was $1.85 billion up from $1.8 billion a year earlier. Revenue in 2013 was $7.9 billion, up from $7.7 billion.

Royal said in its earnings release that bookings during the fourth quarter were on par with historical levels, and that the company is experiencing a typical Wave season.

Booked load factors are up year-over-year for the second, third and fourth quarters, and flat for the first quarter.

“While the Caribbean continues to feel pricing pressure, strong demand for our other itineraries has more than compensated. In particular, load factors and pricing are up significantly for sailings in Europe and Asia. The overall result is increasing yields despite the remaining overhang from last year’s industry events,” CFO Jason Liberty said.

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