Norwegian Cruise Line Holdings Ltd. (NASDAQ: NCLH) (NCL Corporation Ltd., “Norwegian Cruise Line Holdings”, “Norwegian” or “the Company”), today reported financial results for the quarter ended March 31, 2015 and provided guidance for the second quarter and full year 2015.
First Quarter 2015 Highlights
– Improvement in Adjusted EPS of 17.4% to $0.27 on Adjusted Net Income of $62.6 million
– Adjusted Net Yield increase of 18.9% (19.9% on a Constant Currency basis) driven by the addition of the upper premium Oceania Cruises and luxury Regent Seven Seas Cruises brands
– Integration of Norwegian and Prestige Cruise Holdings (Prestige) operations largely complete. Continued synergy identification efforts lead to $75 million in synergies for 2015, $115 million for 2016.
First Quarter 2015 Results
“I am pleased to report strong earnings out of the gate for our first full quarter of operations following the combination of Norwegian and Prestige late last year,” said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings Ltd. “These results are even more impressive as they come against strong comparables in the prior year, particularly for the Norwegian brand, and headwinds from foreign currency exchange rates,” continued Del Rio.
For the first quarter of 2015, the Company generated stronger than expected adjusted earnings per share of $0.27 on Adjusted Net Income of $62.6 million. Earnings exceeded the Company’s guidance of $0.20 to $0.24 per share and benefited from lower than expected interest expense and better than anticipated Net Yield performance. On a GAAP basis, diluted loss per share and net

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