Royal Caribbean predicts better 2009 profit than expected, says bookings are stabilizing

Royal predicts better 2009 profit than expected

MIAMI — Royal Caribbean Cruises Ltd. offered a brighter forecast than expected for its 2009 earnings on Thursday, saying its bookings are stabilizing and cost-cutting efforts are taking hold.

The company expects to earn roughly $1.35 per share for the year. Analysts polled by Thomson Reuters forecast, on average, a profit of 97 cents per share.

In the second quarter, Royal Caribbean expects results between break-even and a loss of 5 cents per share. Analysts expect a second-quarter loss of 1 cent per share.

For the first quarter, Royal Caribbean reported a smaller-than-expected loss of $36.2 million, or 17 cents per share, on revenue that fell 7 percent to $1.33 billion.

Analysts surveyed by Thomson Reuters forecast a wider loss of 34 cents per share on revenue of $1.31 billion.