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Royal Caribbean profit climbs as industry rebounds
Royal Caribbean profit signals rebound of global cruise industry; revenue up nearly 3 percent
By SCOTT MAYEROWITZ
Associated Press
2014-01-27 10:42 PM

NEW YORK (AP) -- Royal Caribbean signaled Monday that the cruise industry is finally rebounding, posting a fourth-quarter profit of $7 million, compared to a loss during the same quarter last year of $393 million.

Net income was 3 cents a share, up from last year's loss of $1.80. Excluding restructuring charges, net income totaled 23 cents a share, beating the estimate of 18 cents from Wall Street analysts surveyed by FactSet.

Revenue at the Miami-based company rose 2.7 percent to $1.85 billion. Royal Caribbean Cruises Ltd. is the world's second largest cruise operator with 41 ships.

The company's stock rose 4 percent in pre-marking trading. Investors apparently shrugged off Sunday's early cancellation of a 10-day Caribbean cruise after hundreds of passengers and crew members were sickened with a gastrointestinal illness.

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