Press release
Lindblad Expeditions Holdings, Inc. Reports 2019 First Quarter Financial Results
NEW YORK, May 2, 2019 /PRNewswire/ -- First Quarter 2019 Highlights: Tour Revenues increased 9% to $89.7 million Net income available to common stockholders
About this update from Lindblad Expeditions Holdings Inc.
[{"type":"text","content":"NEW YORK, May 2, 2019 /PRNewswire/ --\nFirst Quarter 2019 Highlights: \nTour Revenues increased 9% to $89.7 million Net income available to common stockholders increased $3.9 million to $14.7 million Adjusted EBITDA decreased $0.1 million to $22.0 million Lindblad segment Net Yield of $1,099 and Occupancy of 91% Signed contract to build a second new polar ice class vessel for delivery in September 2021 \n \nLindblad Expeditions Holdings, Inc. (NASDAQ: LIND; the \"Company\" or \"Lindblad\"), a global provider of expedition cruises and adventure travel experiences, today reported financial results for the quarter ended March 31, 2019.\nSven-Olof Lindblad, President and Chief Executive Officer, said, \"Lindblad is off to another great start in 2019 as the strong momentum we generated throughout the last year and a half continued into the first quarter. The addition of our second new build vessel, the National Geographic Venture, in December of 2018, has further increased our overall capacity and as we have expanded our inventory we continue to maintain high yields and occupancy levels. Demand for expedition travel has never been greater and with a proven track record of delivering high quality and immersive experiences, along with our long-standing partnership with National Geographic, we are generating booking strength from both loyal guests as well as those experiencing this type of travel for the first time. Reservations for departures later this year and beyond remain strong as we continue to see broad based demand at higher yields for our new builds as well as our existing fleet. With further capacity expansion, including two new polar vessels scheduled to join our fleet over the next two years, and the ability to sustain pricing and occupancy levels, we remain uniquely positioned to generate continued strong growth and build additional shareholder value for years to come.\"\nFIRST QUARTER RESULTS\nTour Revenues\nFirst quarter tour revenues of $89.7 million increased $7.2 million, or 9%, as compared to the same period in 2018. The increase was driven by growth of $5.6 million at the Lindblad segment and a $1.7 million increase at Natural Habitat.\nLindblad segment tour revenue of $76.0 million increased $5.6 million, or 8%, compared to the first quarter a year ago primarily due to a 9% increase in Available Guest Nights, mostl...