Revenue during the quarter went up marginally by 0.40 percent to $1,909.60 million from $1,902.05 million in the previous year period. Gross margin for the quarter expanded 294 basis points over the previous year period to 53.38 percent. Total expenses were 84.46 percent of quarterly revenues, down from 86.86 percent for the same period last year. This has led to an improvement of 241 basis points in operating margin to 15.54 percent.

Operating income for the quarter was $296.84 million, compared with $249.92 million in the previous year period.

"As we enter our DOUBLE-DOUBLE year, we have never been so well positioned,” said Richard D. Fain, chairman and chief executive officer. "This program has done what it set out to do ��" bookings are at record levels, the preference our brands enjoy has never been stronger, we are on the cusp of investment grade ratings, our dividends are at an all-time high, costs have been well managed, and our guests satisfaction has never been better. The DOUBLE-DOUBLE program helped reinforce the mindset and discipline across our organization which has gotten us here. For that I thank every one of the men and women whose passion and efforts are driving this performance. While currency and fuel are both significant negatives at the moment, our business continues to thrive."

On an adjusted basis, the company forecasts diluted earnings per share to be $0.90 for the first-quarter. For fiscal year 2017, the company expects diluted earnings per share to be in the range of $6.90 to $7.10 on adjusted basis.

The company has spent $2,724.89 million cash to meet investing activities during the year as against cash outgo of $1,742.98 million in the last year.

Cash flow from financing activities was $243.81 million for the year as against cash outgo of $253.51 million in the last year period.

Cash and cash equivalents stood at $132.60 million as on Dec. 31, 2016, up 9.08 percent or $11.04 million from $121.56 million on Dec. 31, 2015.

Debt moves up
Royal Caribbean Cruises has witnessed an increase in total debt over the last one year. It stood at $9,387.44 million as on Dec. 31, 2016, up 10.09 percent or $860.19 million from $8,527.24 million on Dec. 31, 2015. Total debt was 42.08 percent of total assets as on Dec. 31, 2016, compared with 40.76 percent on Dec. 31, 2015. Debt to equity ratio was at 1.03 as on Dec. 31, 2016, down from 1.06 as on Dec. 31, 2015. Interest coverage ratio deteriorated to 3.68 for the quarter from 3.90 for the same period last year.