Royal Caribbean Cruises Ltd. (NYSE: RCL) reported fourth-quarter and full-year 2012 results before markets opened this morning.

For the quarter, the cruise ship operator posted adjusted diluted earnings per share (EPS) of $0.10 on revenues of $1.81 billion. In the same period a year ago, the company reported EPS of $0.17 on revenues of $1.27 billion. Fourth-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $0.06 and $1.82 billion in revenues.

For the full year, the company posted adjusted EPS of $1.97 on revenues of $7.69 billion, compared with EPS of $2.77 on revenues of $7.54 billion in 2011. The consensus estimate called for EPS of $1.95 on revenues of $7.7 billion.

Royal Caribbean took an impairment charge of $413.9 million for the full year related to its Spanish business Pullmantur and the “lingering impact” of the sinking of its Costa Concordia liner. On a GAAP basis, EPS for the full year totaled $0.08. For the quarter, GAAP earnings computed to a net loss of $1.80 per share.

The company’s CEO said:

Excluding the Pullmantur impairment charges, our operating results came in remarkably close to our forecast from a year ago, which is notable given the challenging environment. Looking forward, we see a tale of two continents; North America is doing well, while parts of Europe continue to be a challenge. Nonetheless, we are encouraged that the former will countervail the latter allowing us to drive meaningful yield growth in 2013.

Royal Caribbean’s outlook for 2013 calls for EPS in the range of $2.30 to $2.50. The consensus estimate calls for EPS of $2.67 on revenues of $8.07 billion.

The company’s shares are up about 0.2% in premarket trading, at $36.85 in a 52-week range of $22.12 to $38.56. Thomson Reuters had a consensus analyst price target of around $38.60 before today’s report.

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