Press release
Lindblad Expeditions Holdings, Inc. Reports 2019 Fourth Quarter and Full Year Financial Results
NEW YORK, Feb. 25, 2020 /PRNewswire/ -- Full year 2019 Highlights: Tour revenues increased 11% to $343.1 million Net income available to common stockholders
About this update from Lindblad Expeditions Holdings Inc.
[{"type":"text","content":"NEW YORK, Feb. 25, 2020 /PRNewswire/ --\n\n \n \n\n \nFull year 2019 Highlights: \nTour revenues increased 11% to $343.1 million Net income available to common stockholders increased 21% to $13.7 million Adjusted EBITDA increased 21% to $66.6 million Lindblad segment Net Yield increased 1% to $1,051 and Occupancy was 91% Expanded capacity by 10% led by the launch of the National Geographic Venture Completed exchange offer and redeemed all outstanding warrants Signed contract to build a second new polar ice class vessel scheduled for delivery in the fourth quarter of 2021Lindblad 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 fourth quarter and year ended December 31, 2019.\nSven-Olof Lindblad, President and Chief Executive Officer, said \"Lindblad delivered another year of strong financial growth in 2019 as our sustained investment in expanding our capacity to further meet the growing demand for authentic expedition travel is attracting a diverse audience of new and returning guests. We have increased our inventory by more than 20% since we began strategically investing in our new build program in 2015 and since that time, we have grown Net Yields by 8% while also maintaining occupancy levels above 90%. In 2020, with a continued strong booking environment and the expected April launch of the National Geographic Endurance, our first new state-of-the-art polar ice class vessel, we are poised to substantially build on the growth we delivered this past year. Overall, Lindblad's proven track record in delivering high quality and immersive experiences in the world's most remarkable geographies, along with our strategic partnership with National Geographic, should enable us to continue to add inventory while maintaining strong price points and audience levels, driving additional shareholder value in the years ahead.\"\nFULL YEAR RESULTS\nTour Revenues\nFull year tour revenues of $343.1 million increased $33.4 million, or 11%, as compared to 2018. The increase was driven by growth of $26.1 million at the Lindblad segment and a $7.3 million increase at Natural Habitat.\nLindblad segment tour revenues of $272.4 million increased $26.1 million, or 11%, compared to 2018 primarily due to a 10% increa...