-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NVwIG6L/G+xmVvfz0wjO6r37d0SQDzvyam1KDTStbzyDS74cZQFKc+Chj3YaG87l SirXcHruYpzkDsEvnRn0Vg== 0000950144-00-001476.txt : 20000207 0000950144-00-001476.hdr.sgml : 20000207 ACCESSION NUMBER: 0000950144-00-001476 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20000131 FILED AS OF DATE: 20000204 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ROYAL CARIBBEAN CRUISES LTD CENTRAL INDEX KEY: 0000884887 STANDARD INDUSTRIAL CLASSIFICATION: WATER TRANSPORTATION [4400] IRS NUMBER: 980081645 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: SEC FILE NUMBER: 001-11884 FILM NUMBER: 523395 BUSINESS ADDRESS: STREET 1: 1050 CARIBBEAN WAY CITY: MIAMI STATE: FL ZIP: 33132 BUSINESS PHONE: 3055396000 MAIL ADDRESS: STREET 1: 1050 CARIBBEAN WAY CITY: MIAMI STATE: FL ZIP: 33132 6-K 1 ROYAL CARIBBEAN CRUISES, LTD. 1 FORM 6-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULES 13a-16 OR 15d-16 OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE MONTH OF JANUARY, 2000 ROYAL CARIBBEAN CRUISES LTD. 1050 CARIBBEAN WAY, MIAMI, FLORIDA 33132 (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) [INDICATE BY CHECK MARK WHETHER THE REGISTRANT FILES OR WILL FILE ANNUAL REPORTS UNDER COVER FORM 20-F OR FORM 40-F.] FORM 20-F [X] FORM 40-F [ ] [INDICATE BY CHECK MARK WHETHER THE REGISTRANT BY FURNISHING THE INFORMATION CONTAINED IN THIS FORM IS ALSO THEREBY FURNISHING THE INFORMATION TO THE COMMISSION PURSUANT TO RULE 12g3-2(b) UNDER THE SECURITIES EXCHANGE ACT OF 1934.] YES [ ] NO [X] [IF "YES" IS MARKED INDICATE BELOW THE FILE NUMBER ASSIGNED TO THE REGISTRANT IN CONNECTION WITH RULE 12g-3-2(b): 82 _____]. 2 News From Royal Caribbean Cruises Ltd. Public Relations Office 1050 Caribbean Way, Miami, Florida 33132-2096 Contact: Lynn Martenstein (305) 539-6573 or Erin Williams (305) 539-6153 FOR IMMEDIATE RELEASE --------------------- ROYAL CARIBBEAN REPORTS RECORD RESULTS IN 1999 MIAMI - (January 25, 2000) - Royal Caribbean Cruises Ltd. (NYSE, OSE: RCL) announced today a 16% increase in net income to $383.9 million in 1999, up from $330.8 million in 1998. Earnings per share was $2.06, or 13% higher than the previous year. Since both years experienced non-recurring items, comparable EPS was $2.15 in 1999 versus $1.93 in 1998. Revenues were $2.5 billion, as compared to $2.6 billion in 1998. The slight decline in revenues was due primarily to a 3% decrease in capacity in 1999. This decrease was the result of the sale of SONG OF AMERICA and service outages in the first half of the year. On a comparable basis, earnings for the fourth quarter of 1999 increased to $.21 per share compared to $.17 per share in 1998. Reported net income for the fourth quarter of 1999 was $38.3 million or $.19 per share, which includes a $3.3 million non-recurring item. Reported net income for the fourth quarter of 1998 was $23.4 million or $0.12 per share, which includes a $9 million non-recurring item. Revenues for the fourth quarter of 1999 were $584.0 million, up from $575.1 million in 1998. "We are pleased with our earnings growth in 1999, especially in a year of reduced capacity," said Richard D. Fain, chairman and chief executive officer. "Continued focus on yield management and cost control have proven effective, enabling us to report record earnings once again. We are particularly pleased with the introduction of VOYAGER OF THE SEAS. We had always anticipated the ship would be a success, and are very happy with the positive press she has received. We look forward to continuing our tradition of product innovation with the delivery of Celebrity's MILLENNIUM in June of this year." 3 ROYAL CARIBBEAN REPORTS RECORD RESULTS IN 1999 2-2-2-2 Royal Caribbean Cruises Ltd. is a global cruise company operating two cruise brands, Royal Caribbean International and Celebrity Cruises. The brands' combined fleet currently consists of 17 vessels; 10 additional vessels are on order for delivery through 2004. For additional information about Royal Caribbean, visit the company's Internet sites on the World Wide Web at HTTP://WWW.ROYALCARIBBEAN.COM, HTTP://WWW.CELEBRITY-CRUISES.COM or HTTP://WWW.RCLINVESTOR.COM. Certain statements in this news release are forward-looking statements. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performances or achievements to differ materially from future results, performance or achievements expressed or implied in such forward-looking statements. Such factors include general economic and business conditions, changes in cruise industry competition, weather and other factors described in further detail in Royal Caribbean's filings with the Securities and Exchange Commission. (Financial Tables Follow) ### 4 ROYAL CARIBBEAN CRUISES LTD. CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED, IN THOUSANDS, EXCEPT PER SHARE DATA)
(UNAUDITED) FOURTH QUARTER ENDED YEAR ENDED DECEMBER 31, DECEMBER 31, -------------------- ------------------------ 1999 1998 1999 1998 -------- -------- ---------- ---------- Revenues $583,982 $575,148 $2,546,152 $2,636,291 -------- -------- ---------- ---------- Expenses Operating 366,231 379,627 1,496,252 1,593,728 Marketing, selling and administrative 100,337 83,717 371,817 359,214 Depreciation and amortization 51,965 47,655 197,909 194,614 -------- -------- ---------- ---------- 518,533 510,999 2,065,978 2,147,556 -------- -------- ---------- ---------- Operating Income 65,449 64,149 480,174 488,735 -------- -------- ---------- ---------- Other Income (Expense) Interest income 3,554 3,463 8,182 15,912 Interest expense, net of capitalized interest (30,638) (39,489) (130,625) (167,869) Other income (expense) (27) (4,698) 26,122 (6,008) -------- -------- ---------- ---------- (27,111) (40,724) (96,321) (157,965) -------- -------- ---------- ---------- Net income $ 38,338 $ 23,425 $ 383,853 $ 330,770 ======== ======== ========== ========== Earnings per Share Basic $ 0.19 $ 0.12 $ 2.15 $ 1.90 ======== ======== ========== ========== Diluted $ 0.19 $ 0.12 $ 2.06 $ 1.83 ======== ======== ========== ==========
STATISTICS
FOURTH QUARTER YEAR TO DATE ---------------------- ------------------------ 1999 1998 1999 1998 --------- --------- ---------- ---------- Occupancy as a percentage of total capacity 102.9% 101.6% 104.7% 105.2% Passenger Cruise Days 2,896,743 2,811,302 11,227,196 11,607,906
5 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. ROYAL CARIBBEAN CRUISES LTD. ------------------------------------ (Registrant) Date: February 1, 2000 By: /s/ RICHARD J. GLASIER --------------------------------- Richard J. Glasier Executive Vice President and Chief Financial Officer -----END PRIVACY-ENHANCED MESSAGE-----