Royal Caribbean Cruise Lines 2009 Annual Report Download - page 43

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Cautionary Note Concerning Factors That May Affect Future Results
Certain statements under this caption “Management’s Discussion and Analysis of Financial Condition and Results of
Operations” and elsewhere in this document constitute forward-looking statements under the Private Securities Litigation Reform Act
of 1995. Words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “goal,” “intend,” “may,” “plan,” “project,” “seek,”
“should,” “will,” and similar expressions are intended to identify these forward-looking statements. Forward-looking statements do
not guarantee future performance and may involve risks, uncertainties and other factors, which could cause our actual results,
performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those
forward-looking statements. Examples of these risks, uncertainties and other factors include, but are not limited to those discussed
under Item 1A. Risk Factors as well as the following:
33
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations
•
the adverse impact of the current economic environment on the demand for cruises,
•
the impact of the current economic environment on our ability to generate cash flows from operations or obtain new
borrowings from the credit or capital markets in amounts sufficient to satisfy our capital expenditures, debt repayments and
other financing needs,
•
the impact of disruptions in the global financial markets on the ability of our counterparties and others to perform their
obligations to us including those associated with our loan agreements and derivative contracts,
•
the uncertainties of conducting business internationally and expanding into new markets,
•
changes in operating and financing costs, including changes in foreign currency, foreign exchange rates, interest rates, fuel,
food, payroll, airfare for our shipboard personnel, insurance and security costs,
•
problems encountered at shipyards and their subcontractors including insolvency or financial difficulties,
•
vacation industry competition and changes in industry capacity and overcapacity,
•
compliance with or changes in tax, environmental, health, safety, security and other laws and regulations affecting our
business or our principal shareholders,
•
pending or threatened litigation, enforcement actions, fines or penalties,
•
the impact of delayed or cancelled ship orders,
•
emergency ship repairs, including the related lost revenue,
•
ship delivery delays, ship cancellations or ship construction price increases brought about by the financial difficulties of
shipyards and their subcontractors in the current economic environment,
•
negative incidents or adverse publicity concerning the cruise vacation industry including those involving the health, safety
and security of passengers,
•
the international political climate, fears of terrorist and pirate attacks, armed conflict, the unavailability or cost of air
service and the resulting concerns over safety and security aspects of traveling,
•
the spread of contagious diseases,
•
a disruption to our shoreside business caused by actual or threatened natural disasters, information systems failure or
similar events,