Result plunges from profit in same period in 2012
Despite rising revenues, Norwegian Cruise Line has reported deeper losses. It plunged to a first-quarter loss on the back of its recent IPO, posting a net loss of $96.4 million (€73.7 million), down from a $3.3 million profit for the same period in 2012.
However, excluding one-off costs associated with the IPO, it reported adjusted net income of $12.9 million. Revenue for the three months reached $528 million, up from $515 million.
The company put a uplifting face on the results: “We are excited to announce another quarter of strong results, especially in light of this being our first quarter as a publicly traded company,” said Kevin Sheehan, Norwegian’s president and chief executive. “These […] results bring us to 19 consecutive quarters of year-over-year adjusted ebitda (earnings before interest, taxes, depreciation and amortisation) growth.”
[pictured: Norwegian Epic, Rotterdam]