-----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, FeoR+EOBA9aM37SMDelCjA1NlyhvJdS3gHD3/2c4tJw2aEEYSrun0r8qtlMeNgio qRqDxRAmSb8lvaNYLM8ulQ== 0000950144-01-501339.txt : 20010501 0000950144-01-501339.hdr.sgml : 20010501 ACCESSION NUMBER: 0000950144-01-501339 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20010430 FILED AS OF DATE: 20010430 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: 1616655 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 g68919e6-k.txt ROYAL CARIBBEAN CRUISES 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 APRIL, 2001 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 12g3-2(b): 82-_____]. 2 News From Royal Caribbean Cruises Ltd. Office of Corporate Communications 1050 Caribbean Way, Miami, Florida 33132-2096 Contact: Lynn Martenstein or Erin Williams (305) 539-6570 or (305) 539-6153 For Immediate Release ROYAL CARIBBEAN REPORTS FIRST QUARTER 2001 RESULTS MIAMI - (April 25, 2001) - Royal Caribbean Cruises Ltd. (NYSE, OSE: RCL) announced today that revenues for the first quarter of 2001 were $727 million, up 3 percent from $708 million in 2000. The increase in revenues was due primarily to an increase in capacity in the quarter, offset by a decline in yields. Yields, defined as net revenues per available passenger cruise day, were down 11 percent for the quarter, primarily due to the impact of the Millennium New Year's event, which positively affected the first quarter of 2000. Excluding the impact of the Millennium event, yields were down 4 percent. Net income for the quarter was $52 million, as compared with $106 million in the first quarter of 2000. Earnings per share were $0.27, versus $0.55 in the prior year. Efforts to stimulate demand and attract first-time cruisers continued in the first quarter with the launch of new ad campaigns for the Royal Caribbean International and Celebrity Cruises brands. Both of these ad campaigns have been successful in increasing brand awareness among consumers and travel agents, as evidenced by recent surveys from independent sources and a tripling in the monthly number of visitors to each of the brands' websites. The newest additions to the company's fleet, INFINITY for the Celebrity Cruises brand and RADIANCE OF THE SEAS for Royal Caribbean International, entered into service last month. These ships join Celebrity's MILLENNIUM as the first in the industry to use smokeless gas turbine engines. "We know our guests are as concerned as we are about protecting the environment," said Richard D. Fain, chairman and chief executive officer of Royal Caribbean Cruises Ltd. "We take great pride in introducing this technology not only because it corresponds to the desires of the consumer, but also because it's the right thing to do." Both ships are heading to Alaska for the summer, and the company believes they will be the most innovative hardware available in the region. 1 of 3 3 ROYAL CARIBBEAN REPORTS FIRST QUARTER 2001 RESULTS 2-2-2-2 - ------------------------------------------------------------------------------ Also geared at the Alaska market, the company's newest division, Royal Celebrity Tours, took delivery of its first two rail cars - the largest domed rail cars in the world - and begins its inaugural season of operation next month. A six-city whistle stop tour of the rail cars through the Midwest and West previewed the new premium Alaskan land product to travel agents and media. "Although this year's booking period started out strong, we are disappointed that the momentum did not continue as long as we would have liked," said Fain. "As we all know, the slowdown of the economy is affecting consumer spending. This impact, coupled with increased industry capacity, continues to put pressure on pricing. As a result, we now forecast yields for the last nine months of 2001 to be down 2 percent on a year-over-year basis." "While the pricing environment remains challenging, we believe the long-term fundamentals of the industry remain intact. We firmly believe our young, innovative fleet is competing aggressively in this market. Our product offering is effectively attracting first-time cruisers and providing new options to our large base of loyal guests." Royal Caribbean Cruises Ltd. is a global cruise vacation company that operates Royal Caribbean International, Celebrity Cruises, and Royal Celebrity Tours. Royal Caribbean International and Celebrity Cruises have a combined total of 21 ships in service and eight under construction or on firm order. Royal Celebrity Tours operates cruise-tour vacations in Alaska utilizing the world's largest glass-domed railcars. Additional information can be found on www.royalcaribbean.com or www.celebritycruises.com. The company has scheduled a conference call at 10 a.m. today to discuss its 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. 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) 2 of 3 4 ROYAL CARIBBEAN CRUISES LTD. CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited, dollars in thousands, except per share data)
FIRST QUARTER ENDED MARCH 31, ------------------------------------ 2001 2000 ------------------ ---------------- Revenues $ 726,878 $ 707,786 ------------------ ---------------- Expenses Operating 456,339 403,179 Marketing, selling and administrative 112,790 108,415 Depreciation and amortization 67,665 56,556 ------------------ ---------------- 636,794 568,150 ------------------ ---------------- Operating Income 90,084 139,636 ------------------ ---------------- Other Income (Expense) Interest income 6,797 1,373 Interest expense, net of capitalized interest (59,255) (31,978) Other income (expense) 14,871 (3,503) ------------------ ---------------- (37,587) (34,108) ------------------ ---------------- Net Income $ 52,497 $ 105,528 ================== ================ Earnings Per Share Basic $ 0.27 $ 0.57 ================== ================ Diluted $ 0.27 $ 0.55 ================== ================ Weighted Average Shares Outstanding Basic 192,160,596 182,466,598 ================== ================ Diluted 193,515,506 193,538,594 ================== ================
STATISTICS
2001 2000 ---------------- -------------- Occupancy as a percentage of total capacity 103.0% 101.7% Guest Cruise Days 3,493,512 3,024,269
3 of 3 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: April 27, 2001 By: /s/ BONNIE S. BIUMI ------------------------------- Bonnie S. Biumi Vice President and Treasurer -----END PRIVACY-ENHANCED MESSAGE-----