Lindblad Expeditions has reported a net income of US$0.1 million, for the second quarter of 2018, an improvement to its net loss of US$2.5 million in the second quarter of 2017.
The US$2.6 million improvement primarily reflects the higher operating results and US$1.1 million of lower stock-based compensation expense in the current year.
Second quarter tour revenues of US$69.5 million increased US$13.9 million, or 25 per cent, as compared to the same period in 2017. The increase was driven by growth of US$12.3 million at the Lindblad segment and a US$1.6 million increase at Natural Habitat.
Following the quarter, Lindblad Expeditions announced that its board of directors has authorised the building of a fourth polar ice class vessel for delivery in 2021.