Royal Caribbean Cruises Ltd reported a fourth-quarter profit, compared to a year-earlier loss, buoyed by increased bookings in most markets.

The world’s second-largest cruise operator reported net income of $7 million, or 3 cents per share, in the quarter ended Dec. 31, compared with a loss of $392.8 million, or $1.80 per share, a year earlier.

Excluding one-time items, the company earned 23 cents per share. Total revenue rose 2.7 percent to $1.85 billion.

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Photo Credit: The slightly ill Explorer of the Seas. Thomas Layer / Associated Press