Posted on: April 30, 2012
Norwegian turns Q1 profit
By Jerry Limone
Norwegian Cruise Line’s ability to boost revenue and hold down expenses enabled the company to record a $3.3 million net profit in the first quarter, reversing a $7.9 million net loss a year earlier.
Norwegian’s revenue was $515.4 million, a 4% increase. Meanwhile, the company’s operating and other expenses totaled $469 million, a 2.4% increase.
Operating income rose 23.7%, to $46.4 million.
“It is always rewarding to report strong top-to-bottom results,” said Kevin Sheehan, Norwegian’s CEO. “Revenue growth was very positive, considering the impact of redeploying Norwegian Jade in late 2011 due to geopolitical disruptions in Egypt and the surrounding region.”
Norwegian’s nonoperating expenses, a category that includes interest expense, was $43.3 million.
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