MIAMI (AP) — Royal Caribbean Cruises Ltd., the world’s second-largest cruise line, said yesterday its first-quarter profit sank 92 percent from the year-ago period, mainly because of higher cruise operating expenses and its acquisition of Spanish cruise and tour operator Pullmantur.Net income sagged to $8.8 million, or four cents per share, for the three months ended March 31 versus $119.5 million, or 55 cents per share, in the prior year.

Analysts polled by Thomson Financial expected earnings of 6 cents per share.

The company said Pullmantur’s business is highly seasonal with very strong summer months but very weak winter months. It also included a two-month lag in Pullmantur’s results. The changes hurt its first-quarter earnings, with Royal Caribbean saying it will also affect second-quarter results.

Revenue for the quarter rose 6 percent to $1.22 billion from $1.15 billion in the previous year. Wall Street consensus estimates put sales at $1.18 billion.

But total cruise operating expenses rose faster, climbing 15.2 percent to $841.3 million from $730.1 million.

The company continued to lament a weak demand environment in the important Caribbean market — a problem besetting the entire cruise industry and hurting net yields.