a record first-quarter result.
However, net income dropped to $400,000, down from $1.5 million last year.
Net yields increased 5.2%, driven by a 4.7-point rise in occupancy, the three-ship luxury line said.
Fuel expense increased 17%, or $1.8 million, but Regent said it was able to offset much of the increase with a $1.2 million cash benefit from its fuel-hedging contracts.
Net cruise costs, excluding fuel, rose 1.9%, primarily due to increased hotel services costs.
Adjusted EBITDA was $17.7 million for the first quarter of 2012, compared with $16.9 million for the first quarter of 2011.
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