Norwegian Cruise Line pleased with 2012 results

By Tom Stieghorst
In its first earnings report since going public last month, Norwegian Cruise Line said its net income was $168.6 million in 2012, up from $126.9 million a year earlier.

Revenue rose 2.6% to $2.28 billion.

"We are very pleased to begin our journey as a public company by posting strong results for 2012," CEO Kevin Sheehan said.

Norwegian forecast its 2013 earnings would come in between $214 million and $250 million.

Results for 2012 include a $4.5 million charge for compensation to a former CEO without which 2012 net income would have been $173.1 million.

Fourth-quarter net income was $1.1 million compared to a loss of $1.9 million a year earlier. Without the effect of the compensation charge, net income would have been $5.6 million in the fourth quarter.

Revenue in the fourth quarter grew 3% to $503.2 million.

Norwegian will hold a conference call at 10 a.m. Feb. 12 to discuss the results.

Follow Tom Stieghorst on Twitter @tstravelweekly.
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