Norwegian Cruise Line reports Q3 results

Norwegian Cruise Line (NCL Corporation Ltd. or "the Company") today reported results for its third quarter ended September 30, 2009. EBITDA in the period improved by 7.1% to $151.6 million versus $141.5 million for the same period in 2008. The improvement in EBITDA was achieved despite a decline in Net Revenue in the third quarter of 15.3%. This decline resulted from a 10.1% decrease in Net Yield and a 5.7% decrease in Capacity Days. The decrease in Net Yield was primarily due to weakness experienced in passenger ticket pricing versus 2008 and was partially offset by an increase in Net Yield from onboard and other revenue. The decrease in Capacity Days resulted from the departure of Norwegian Dream from the Company's fleet in November 2008. Occupancy Percentage for the third quarter of 2009 increased to 114.8% compared to 111.3% in the prior year. Net income in 2009 was $85.6 million on revenue of $550.7 million compared to net income of $171.2 million on revenue of $639.0 million in 2008. The decline in net income reflects foreign currency exchange translation gains in 2008 of $117.6 million.