The key measure of EBITDA, or earnings before interest, taxes, depreciation and amortization, increased to $400.4 million, a jump of 23.6 percent over 2009.
Net yield, the revenue generated per berth per day, jumped nearly 8 percent in 2010, thanks to higher ticket prices and onboard spending.
But net income for the year was $22.6 million, down from $67.2 million in 2009. The privately held company attributed that drop in large part to costs associated with the addition of the 4,100-passenger ship Norwegian Epic.
For the fourth quarter of 2010, EBITDA increased to $63.4 million, a jump of nearly 70 percent from the same period in 2009. Net yield increased 7 percent, but the company posted a net loss of $39.3 million due to higher interest expenses, compared to a $39 million loss in 2009.
Despite the hit to the bottom line, NCL chief executive Kevin Sheehan said he was pleased with the year's results, especially consistent improvement in EBITDA.
``We're all very excited abut our prospects,'' Sheehan said in an interview Monday. ``I think we're positioned well for the future.''
In October, Norwegian Cruise Line's parent NCL Corp. filed paperwork with the U.S. Securities and Exchange Commission to sell up to $250 million in stocks to the public.
That month, the company also announced that it had ordered two new 4,000-passenger ships for delivery in 2013 and 2014.
Norwegian Cruise Line is held in a partnership of New York private equity giant Apollo Management; TPG, another private equity firm; and Genting Hong Kong.
Source: miamiherald.com
