-----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, BNbFEgUACstgXghYqTFwhjAAnX6eOEpracS7ZpkNJ1Ss58KVLOgXyY1IcN1+LQEi F6tqdNcssxTVYXLSgH25Bg== /in/edgar/work/20000728/0000950144-00-009176/0000950144-00-009176.txt : 20000921 0000950144-00-009176.hdr.sgml : 20000921 ACCESSION NUMBER: 0000950144-00-009176 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20000731 FILED AS OF DATE: 20000728 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ROYAL CARIBBEAN CRUISES LTD CENTRAL INDEX KEY: 0000884887 STANDARD INDUSTRIAL CLASSIFICATION: [4400 ] IRS NUMBER: 980081645 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: SEC FILE NUMBER: 001-11884 FILM NUMBER: 681497 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 e6-k.txt ROYAL CARIBBEAN 6-K FOR 7/00 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 July, 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: Michael Sheehan (305) 539-6572 or Erin Williams (305) 539-6153 FOR IMMEDIATE RELEASE --------------------- ROYAL CARIBBEAN REPORTS RECORD PROFITS AND HIGHER NET YIELDS ------------------------------------------------------------ MIAMI - July 25, 2000 - Royal Caribbean Cruises Ltd. (NYSE, OSE: RCL) reported record profits for the second quarter of 2000. Net income for the quarter was $108 million, or $0.56 per share, compared to $85 million, or $0.47 per share in the same quarter of 1999. Second quarter results for 1999 include a $14 million charge for a non-recurring item. Revenues were $680.7 million for the second quarter of 2000, as compared to $617.7 million for the same quarter in 1999. The increase in revenues was due primarily to an 11% increase in capacity. Occupancy was 106.1% in the second quarter, compared to 104.8% in 1999. Net revenue yields (net revenue per available passenger cruise day) were up 2%. Net income for the six months ended June 30, 2000 increased 22% on a 13% increase in capacity. Net income was $213.8 million or $1.11 per share, compared to $175.5 million or $0.96 per share for the same period last year. This increase is primarily due to a year over year increase in capacity and net yield improvements. Revenues increased 13% to $1.4 billion for the six months ended June 30, 2000 compared to $1.2 billion for the same period last year. Occupancy for the first six months was 103.9%, compared to 103.4% the prior year. "We are pleased to report record profits again this quarter," said Richard D. Fain, chairman and chief executive officer of Royal Caribbean Cruises Ltd. "Especially noteworthy is our yield performance in the current competitive pricing environment. These results reflect the strong demand for our product, a job well done by our revenue management team and the underlying strength of the industry fundamentals. Our expectations for the second half of the year remains basically unchanged, with a highly competitive pricing environment and yields less than last year." MORE. . . 3 ROYAL CARIBBEAN REPORTS RECORD PROFITS AND HIGHER NET YIELDS 2-2-2-2 - -------------------------------------------------------------------------- The Company has scheduled a conference call at 10 a.m. today to discuss its second quarter earnings. This call can be listened to, either live or on a delayed basis, on the Company's investor relations web site at www.rclinvestor.com. 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 18 vessels, with 11 additional vessels 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.celebritycruises.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)
Second Quarter Ended Six Months Ended June 30, June 30, ------------------------------- ------------------------------- 2000 1999 2000 1999 ------------- ------------- ------------- ------------- REVENUES $ 680,731 $ 617,664 $ 1,388,517 $ 1,227,710 ------------- ------------- ------------- ------------- EXPENSES Operating 390,599 370,210 793,778 736,823 Marketing, selling and administrative 104,273 90,879 212,688 178,693 Depreciation and amortization 54,663 48,465 111,219 95,694 ------------- ------------- ------------- ------------- 549,535 509,554 1,117,685 1,011,210 ------------- ------------- ------------- ------------- OPERATING INCOME 131,196 108,110 270,832 216,500 ------------- ------------- ------------- ------------- OTHER INCOME (EXPENSE) Interest income 2,510 1,164 3,883 2,055 Interest expense, net of capitalized interest (31,348) (33,953) (63,326) (69,175) Other income (expense) 5,900 10,026 2,397 26,163 ------------- ------------- ------------- ------------- (22,938) (22,763) (57,046) (40,957) ------------- ------------- ------------- ------------- NET INCOME $ 108,258 $ 85,347 $ 213,786 $ 175,543 ============= ============= ============= ============= BASIC EARNINGS PER SHARE Net income $ 0.57 $ 0.49 $ 1.13 $ 1.00 ============= ============= ============= ============= Weighted average shares outstanding 190,951,195 169,340,956 186,708,896 169,200,070 ============= ============= ============= ============= DILUTED EARNINGS PER SHARE Net income $ 0.56 $ 0.47 $ 1.11 $ 0.96 ============= ============= ============= ============= Weighted average shares outstanding 192,002,249 183,474,066 192,634,706 183,280,098 ============= ============= ============= =============
- -------------------------------------------------------------------------------- STATISTICS
Second Quarter Second Quarter Year to Date Year to Date -------------- -------------- ------------- ------------- 2000 1999 2000 1999 -------------- -------------- ------------- ------------- Occupancy as a percentage of total capacity 106.1% 104.8% 103.9% 103.4% Passenger Cruise Days 3,031,884 2,696,785 6,056,153 5,328,734
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: July 28, 2000 By: /s/ Richard J. Glasier -------------------------------- Richard J. Glasier Executive Vice President and Chief Financial Officer 2 -----END PRIVACY-ENHANCED MESSAGE-----