Royal Caribbean Cruise Lines 2002 Annual Report Download - page 42

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40
ROYAL CARIBBEAN CRUISES LTD.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (continued)
NOTE 14. QUARTERLY DATA (UNAUDITED)
To the Shareholders and Directors
of Royal Caribbean Cruises Ltd.:
In our opinion, the accompanying consolidated balance sheets and the related consolidated statements of
operations, of cash flows and of shareholders’ equity present fairly, in all material respects, the financial posi-
tion of Royal Caribbean Cruises Ltd. and its subsidiaries at December 31, 2002 and 2001, and the results of
their operations and their cash flows for each of the three years in the period ended December 31, 2002 in
conformity with accounting principles generally accepted in the United States of America. These financial state-
ments are the responsibility of the Company’s management; our responsibility is to express an opinion on
these financial statements based on our audits. We conducted our audits of these statements in accordance
with auditing standards generally accepted in the United States of America, which require that we plan and per-
form the audit to obtain reasonable assurance about whether the financial statements are free of material mis-
statement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in
the financial statements, assessing the accounting principles used and significant estimates made by man-
agement, and evaluating the overall financial statement presentation. We believe that our audits provide a rea-
sonable basis for our opinion.
PricewaterhouseCoopers LLP
Miami, Florida
February 28, 2003
First Second Third Fourth
(in thousands, except per share data)
Quarter Quarter Quarter Quarter
2002 2001 2002 2001 2002 2001 2002 2001
Revenues $799,953 $726,878 $821,804 $821,674 $1,031,660 $940,721 $780,930 $655,977
Operating Income $112,412 $ 90,084 $130,520 $135,275 $ 241,597 $211,257 $ 66,446 $ 18,989
Net Income (Loss) $ 52,813 $ 52,497 $ 66,700 $ 81,713 $ 193,494 $159,212 $ 38,277 $ (38,965)
Earnings (Loss)
Per Share:
Basic $ 0.27 $ 0.27 $ 0.35 $ 0.43 $ 1.01 $ 0.83 $ 0.20 $ (0.20)
Diluted $ 0.27 $ 0.27 $ 0.34 $ 0.42 $ 0.99 $ 0.82 $ 0.20 $ (0.20)
Dividends Declared
Per Share $ 0.13 $ 0.13 $ 0.13 $ 0.13 $ 0.13 $ 0.13 $ 0.13 $ 0.13
REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS