Norwegian Cruise Line Holdings. (NCLH) has reported 35.98 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $342.38 million, or $1.50 a share in the quarter, compared with $251.79 million, or $1.09 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $369.30 million, or $1.62 a share compared with $311.14 million or $1.35 a share, a year ago. 

Revenue during the quarter grew 15.55 percent to $1,484.74 million from $1,284.91 million in the previous year period. Gross margin for the quarter expanded 300 basis points over the previous year period to 47.15 percent. Total expenses were 72.14 percent of quarterly revenues, down from 76.12 percent for the same period last year. This has led to an improvement of 398 basis points in operating margin to 27.86 percent.

Operating income for the quarter was $413.61 million, compared with $306.83 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $547.40 million compared with $447.77 million in the prior year period. At the same time, adjusted EBITDA margin improved 202 basis points in the quarter to 36.87 percent from 34.85 percent in the last year period.  

"In 1966, the MS Sunward departed on her first voyage from Miami to the Caribbean, marking not just the launch of Norwegian Cruise Line, but the modern cruise industry as we know it today," said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings Ltd. "Fast forward fifty years, where we have reached yet another milestone, reporting the highest single quarter revenue and earnings in our history, bolstered by the addition of Norwegian Escape, Oceania Cruises' Sirena and Seven Seas Explorer to our fleet," continued Del Rio.

For the fourth-quarter, On an adjusted basis, the company forecasts diluted earnings per share to be in the range of $0.53 to $0.57 . 

For financial year 2016, the company forecasts diluted earnings per share to be in the range of $3.38 to $3.42 on adjusted basis.

The company has spent $950.24 million cash to meet investing activities during the nine month period as against cash outgo of $330.47 million in the last year period.

The company has spent $99.03 million cash to carry out financing activities during the nine month period as against cash outgo of $497.56 million in the last year period.

Cash and cash equivalents stood at $155.43 million as on Sep. 30, 2016, down 32.47 percent or $74.75 million from $230.18 million on Sep. 30, 2015.

Working capital remains negative
Working capital of Norwegian Cruise Line Holdings was negative $1,912.29 million on Sep. 30, 2016 compared with negative $1,990.09 million on Sep. 30, 2015. Current ratio was at 0.19 as on Sep. 30, 2016, up from 0.18 on Sep. 30, 2015.

Days sales outstanding were almost stable at 3 days for the quarter, when compared with the last year period.

Days inventory outstanding has decreased to 4 days for the quarter compared with 7 days for the previous year period. At the same time, days payable outstanding was almost stable at 6 days for the quarter, when compared with the previous year period.