Norwegian Cruise Line is launching an interactive contest on the third largest and fastest growing s

Improved revenue performance in the quarter coupled with business improvement initiatives resulted in a 14.1% increase in operating income to $87.0 million along with an 8.6% increase atlanta hotel in Adjusted EBITDA to $135.1 million. Net Revenue increased 2.7% in the quarter due to an improvement in Net Yield and a 1.5% increase in Capacity Days. Net Yield increased 1.2% (1.9% on a Constant Currency basis) as a result of higher average ticket pricing.
Net Cruise Cost per Capacity Day decreased 1.3% (0.9% on a Constant Currency basis) as benefits from business improvement initiatives and efficiencies coupled with the timing atlanta hotel of repairs and maintenance expense more than offset a 15% increase in the per metric ton cost of fuel to $684. Excluding fuel expense, Net Cruise Cost per Capacity Day decreased 5.1% (4.5% on a Constant Currency basis). Our financial results for the quarter demonstrate healthy top line growth, albeit moderated by the impacts from pressures surrounding Europe. As expected, our deployment, which includes a record four ships in Europe, benefited atlanta hotel the top line through higher ticket revenue with a slight offset in onboard spend, said Kevin Sheehan, President and CEO of Norwegian Cruise Line. And the benefits from business improvement initiatives not only contributed to our financial results, but also to our ongoing commitment in improving atlanta hotel the experience of our guests, continued Sheehan.
Interest expense atlanta hotel was $48.9 million compared to $46.7 million in 2011 reflecting a write-off of $2.4 million of deferred financing fees in 2012. The Company posted a 23.3% increase in net income to $36.0 million atlanta hotel on revenue of $583.2 million from $29.2 million on revenue of $568.6 million in 2011.
Progress on Norwegian Breakaway, the Company s newest ship currently under construction at Meyer Werft, continued to gain momentum throughout the quarter. In early May, the keel was laid, marking the start of the ship s construction. Recently, the Company announced Norwegian Breakaway s extraordinary entertainment line-up, full of hit Broadway shows headlined by the 80 s-inspired rock musical ROCK OF AGES which is joined by ballroom dance sensation BURN THE FLOOR and the spectacular CIRQUE DREAMS DINNER JUNGLE FANTASY. The line-up also includes improvisational troupe The Second City and the popular dueling pianos of Howl at the Moon at Headliners Comedy atlanta hotel Club while Fat Cats Jazz Blues Bar will play host to a Norwegian Cruise Line favorite and New Yorker Slam Allen.
As the largest vessel to ever homeport year-round in New York City, Norwegian Breakaway has many elements atlanta hotel of New York incorporated atlanta hotel into its offerings. The hull art design was conceived by celebrated New York-based artist Peter Max and further strengthening her ties to the Big Apple, Norwegian enlisted famed New York-based celebrity chef Geoffrey Zakarian to create and oversee our first seafood-centric dining venue, Ocean Blue by Geoffrey Zakarian. Commenting on Norwegian Breakaway, Sheehan stated, Our goal is to make Norwegian Breakaway New York s ship and the first choice when cruising from this great city. New Yorkers are accustomed to the best, and by enlisting authentic Broadway entertainment such as Rock of Ages and partnering with acclaimed chef Geoffrey Zakarian on Ocean Blue, I m positive that anyone looking for a taste of New York will feel right at home on Norwegian Breakaway.
Also during atlanta hotel the quarter the first steel cutting for Norwegian Getaway was held in conjunction with Norwegian atlanta hotel Breakaway s keel laying. Homeporting year-round in Miami, Norwegian Getaway will give Norwegian a strong foothold in the world s most popular cruise atlanta hotel port. Also homeporting year-round in Miami is Norwegian Sky, which the Company recently exercised its option atlanta hotel to purchase. Sailing three and four-night cruises from Miami to the Bahamas, Norwegian Sky is vital to Norwegian s fleet as the premier short cruise product in Miami. Said Sheehan, Along with New York, it is critically important that we maintain a strong foothold in Miami. By homeporting Norwegian Getaway in Miami and taking full ownership of Norwegian Sky, we are demonstrating our continued commitment to being the cruise line of choice atlanta hotel in the cruise capital atlanta hotel of the world.
Constant Currency. A calculation whereby foreign atlanta hotel currency-denominated revenues and expenses in a period are converted at the U.S. dollar exchange rate of a comparable period in order to eliminate atlanta hotel the effects of foreign exchange atlanta hotel fluctuations.
Dry-dock. A process whereby a ship is positioned in a large basin where all of the fresh/sea water is pumped out in order to carry out cleaning and repairs of those parts of a ship which are below the water line.
We use certain non-GAAP financial measures, such as Net Revenue, Net Yield, Net Cruise Cost and Adjusted EBITDA to enable us to analyze our performance. We utilize Net Revenue and Net Yield to manage our business on a day-to-day basis and believe that they are the most relevant measures atlanta hotel of our revenue performance because they reflect the revenue earned by us net of significant variable costs and are commonly used in the cruise industry to measure revenue performance. In measuring atlanta hotel our ability to control costs in a manner that positively impacts net income, we believe changes in Net Cruise Cost and Net Cruise Cost Excluding Fuel to be the most relevant indicators of our performance and are commonly used in the cruise industry as a measurement of costs.
Norwegian Cruise Line is launching its popular "Freestyle Dash" limited time offer today, giving guests the opportunity atlanta hotel to receive up to $250 to spend on board (based on cruise length and stateroom atlanta hotel category), when they book a new cruise vacation before Friday, August 24, 2012 to any of Norwegian's exciting
Norwegian Cruise Line announced today that a new Stingray Encounter and Fate of the Fancy Snorkel Adventure are now available on Great Stirrup Cay, the line's 250-acre private island in the Bahamas. In addition, coming soon is a brand new Lighthouse Beach Bar presented by Patron. The launch of these
In celebration atlanta hotel of the continued re-airing of Norwegian Cruise Line's "Undercover Boss" episode featuring CEO Kevin Sheehan, the company is showing its appreciation to the more than 35 million viewers who have watched the episode's two airings on the CBS Television Network. More recently, the Norwegian episode has aired on
Norwegian Cruise Line is launching an interactive contest on the third largest and fastest growing social media site, Pinterest, a virtual pin board that allows users to organise and share their favorite photos and videos with followers.
Norwegian Cruise Line is launching a "Transatlantic and Repositioning Bonus Days" offer today, August 6, 2012, providing guests the opportunity to save on all Transatlantic, Panama Canal, Pacific Coastal and Repositioning sailings. Guests who take advantage of this limited time offer will receive $100 to spend on board, upgrades atlanta hotel on
Norwegian Cruise Line today announced the next three Legends to perform as part of Legends in Concert on board Norwegian Epic beginning Saturday, November 3, 2012, when the ship returns to Miami, Florida to begin her weekly Eastern Caribbean sailings. The tribute artists will perform as some of the world s
Norwegian Cruise Line is launching a limited time offer today, giving guests the opportunity to receive up to $250 (based on cruise length and stateroom category) to spend on board any Caribbean cruise vacation, plus free upgrades fleet-wide on all 2013 and 2014 sailings, when they make a new cruise
Norwegian Cruise Line will host the second annual #SeaTweetup cruise on board Norwegian Sky from October 12-15, 2012. The social media infused sailing departs from Miami and will set sail on a weekend getaway to the Bahamas, visiting Nassau, Bahamas and Norwegian's Private Island, Great Stirrup Cay, Bahamas.