Royal Caribbean Cruise Lines 2003 Annual Report Download - page 34

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NOTE 13. RELATED PARTIES
A. Wilhelmsen AS. and Cruise Associates collectively own
approximately 46.1% of our common stock and are parties to
a shareholders’ agreement which provides that our board of
directors will consist of four nominees of A. Wilhelmsen AS.,
four nominees of Cruise Associates and our Chief Executive
Officer. They have the power to determine, among other
things, our policies and the policies of our subsidiaries and
actions requiring shareholder approval.
NOTE 15. QUARTERLY DATA (UNAUDITED)
NOTE 14. SUBSEQUENT EVENTS
On March 12, 2004, we announced the cancellation of a one-
week sailing due to the unanticipated drydock of one ship.
As of February 17, 2004, the commitment amount under our
unsecured revolving credit facility due 2008 has increased to
$1.0 billion. The other terms of the facility were unchanged.
In January 2004, we entered into an 8-year, $200.0 million
unsecured term loan, at LIBOR plus 1.75%, which can be
drawn any time prior to July 1, 2004.
ROYAL CARIBBEAN CRUISES LTD.
32
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)
(in thousands, except per share data)
First Quarter Second Quarter Third Quarter Fourth Quarter
2003 2002 2003 2002 2003 2002 2003 2002
Total Revenues $ 880,164 $ 799,953 $ 905,841 $ 821,804 $1,120,199 $1,031,660 $ 878,045 $ 780,930
Operating Income $114,942 $ 112,412 $117,203 $ 130,520 $ 249,161 $ 241,597 $ 44,879 $ 66,446
Net Income (Loss) $ 53,174 $ 52,813 $ 55,672 $ 66,700 $ 191,867 $ 193,494 $ (20,049) $ 38,277
Earnings (Loss)
Per Share:
Basic $ 0.28 $ 0.27 $ 0.29 $ 0.35 $ 0.99 $ 1.01 $ (0.10) $ 0.20
Diluted $ 0.27 $ 0.27 $ 0.28 $ 0.34 $ 0.97 $ 0.99 $ (0.10) $ 0.20
Dividends Declared
Per Share $ 0.13 $ 0.13 $ 0.13 $ 0.13 $ 0.13 $ 0.13 $ 0.13 $ 0.13