Net yield from passenger ticket revenue increased 3.4% from improved overall pricing, that was a res

Good morning and welcome to the Norwegian Cruise Line First Quarter 2013 Earnings Conference Call. At this time all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. (Operator Instructions). This conference is being recorded.
Thank you, Tyrone. Good morning philadelphia hotel deals and thank you all for joining us for our first quarter philadelphia hotel deals earnings call. I am joined today by Kevin Sheehan, Our President and Chief Executive Officer and Wendy Beck our Executive Vice President and Chief Financial Officer. Kevin will begin the call with opening commentary and Wendy will follow with more detail regarding the quarter. We will then open the call for you questions.
As a reminder this conference call is being simultaneously webcast on our Investor Relations website at www.investor.ncl.com and will be available for replay for 30 days following today's call. Before philadelphia hotel deals we discuss our results, I would like to cover a few items. First, our press release for our first quarter 2013 results was issued yesterday and is available on our Investor Relations website.
Second, I would like to review information about forward-looking statements and the use of non-GAAP information as a part of this call. Some of our comments today may include forward-looking statements about our expectations philadelphia hotel deals for the future. Those expectations are subject to known and unknown risks, uncertainties and other factors that may cause the company's actual results and performance in future periods to be materially different from any future results or performance suggested by these expectations. philadelphia hotel deals We cannot guarantee the accuracy of any forecast or estimates and we undertake no obligation philadelphia hotel deals to update any forward-looking statements during the quarter.
If you would like more information on the risks involved in forward-looking statements, please see our SEC filings. In addition, some of our comments may reference non-GAAP financial measures. A reconciliation of the most directly comparable GAAP financial measures and other associated disclosures are contained in our earnings release and on our website.
Thanks, Andrea, and good morning, everyone. 2013 has already been, to say the least, an exciting year at Norwegian and we're not even halfway through. We kicked off the year with a successful IPO followed by a notes offering. We reported great results for 2012 and we come to you today to report the same for the first quarter of 2013. But while strong philadelphia hotel deals results are always a great story in and of themselves, today is a little philadelphia hotel deals different and it's very special to us. Not only are we reporting results for our first quarter as a publicly traded company, we've also gone to remote with this earnings call.
Today, instead of coming to you from our headquarters in Miami, we're here in New York City welcoming our newest ship, Norwegian Breakaway, to her hometown. I know there are many New Yorkers on the call today and hopefully those of you that got to work bright and early witnessed the terrific sight of the Norwegian Breakaway sailing up the Hudson for the first time. In fact, many of you can probably look out your window and see her dock at the Manhattan Cruise Terminal.
As the largest cruise ship to home port year-round in New York City, and with the distinctive hull art by Peter Max, she should be pretty easy to spot. She'll be sailing from New York to Bermuda throughout the summer and then switching to the Bahamas and the Caribbean itineraries in the winter. Norwegian Breakaway's arrival in New York is a moment every team member at Norwegian has been looking forward to since October of 2010 when we announced the order for the Breakaway, and her sister ship, Norwegian Getaway.
I have to say it's been an incredible experience to see the evolution of these ships, from concept, to design, to construction, and finally to operation. My thanks go out to everyone involved from the team at Norwegian and especially our dedicated site team to, of course, our travel partners who were, and continue to be, instrumental philadelphia hotel deals in educating guests to the unique elements and experiences on board. But most importantly, my thanks go out to our officers and our crew of Norwegian Breakaway. While the ship may house the state-of-the-art accommodations and entertainment venues, it is our team members on board that give this ship her personality.
I couldn't think of a better group to represent Norwegian year-round in my home town, but I'll talk a little bit more about Norwegian Breakaway and Getaway later in the call. Today, we're here to discuss a strong first quarter, one that marks our 19th consecutive quarter of adjusted EBITDA growth, which is made even more impressive given this quarter was driven by organic growth and included a partial dry dock and elevated fuel costs.
As in 2012, demand coming into 2013's wave season was robust, with strong pricing on the majority of the itineraries, which along with improved on-board spend resulted in a healthy increase in our net yield. Caribbean itineraries performed well in the quarter, as did our unique inter-island Hawaii product. Our European deployment for the first of 2013 increased from one to two ships adding sailings from Rome in addition to Barcelona, giving both Europeans and other guest options to sail western and eastern itineraries during the winter months.
Regarding costs, excluding those costs related to our IPO and notes offering our razor focus on optimizing every process, executing on every initiative, and managing every controllable expense resulted in improved philadelphia hotel deals performance and exceeded our guidance.
Thanks, Kevin, and good morning, everyone. Like Kevin, I'm very excited to welcome Norwegian Breakaway to New York. When I joined the company in 2010, we were right on the cusp of ordering our Breakaway-class specials, and the excitement of everyone working on the project was contagious.
It was an ideal time to join Norwegian as the company prepared to make a giant leap in our journey from good to great. The years of planning, dedication, and hard work by literally thousands of team members are embodied in this incredible vessel, and I'm proud to have been able to be part of the team that has brought this vision to fruition.
Before going into our results, I would like to take a moment to go over the noteworthy transactions in the first quarter. In January, we completed our successful initial public offering, raising net proceeds philadelphia hotel deals of $477.6 million. We followed February with a notes offering, issuing $300 million in senior unsecured notes.
The aggregated net proceeds of the IPO and notes offering philadelphia hotel deals were used to pre-pay certain credit facilities, repay amounts pursuant to the Norwegian philadelphia hotel deals Sky purchase agreement, fully redeem philadelphia hotel deals our $450 million 11.75% philadelphia hotel deals senior philadelphia hotel deals secured notes due 2016 and partially redeem our $350 million philadelphia hotel deals or 9.5% senior notes due in 2018.
These prepayments and redemptions triggered redemption premium, the write-off of deferred philadelphia hotel deals financing fees, and other expenses totaling $90.5 million, which ran through the interest expense line items. philadelphia hotel deals These transactions also resulted in certain non-cash compensation expense and tax expense items which, when added to the aforementioned fees from debt prepayments of redemptions totaled $110.4 million in the period.
Excluding the one-time expense philadelphia hotel deals impact of these resulted in adjusted net income for first quarter of 2013 of $12.9 million with adjusted earnings per share of $0.06 compared to $3.3 million and $0.02 in the first quarter of 2012 and above our first quarter guidance of $0.02 to $0.05.
Now, looking at the top line, higher net yield in the quarter drove a 2.4% increase in revenue to $527.6 million despite a slight decrease in capacity dates, which included the planned dry dock of Pride of America. Coming in at the higher end of our guidance, the 3.3% increase in net yield can be attributed to improvement in both passenger philadelphia hotel deals tickets and on-board revenue.
Net yield from passenger ticket revenue increased 3.4% from improved overall pricing, philadelphia hotel deals that was a result of strong demand going into wave season. Net yield from on-board and other revenue philadelphia hotel deals grew 3.2% from improved on-board spend, particularly in the bar and short excursion areas.
Switching over to expenses, adjusted net cruise costs excluding fuel per capacity day decreased 1.5%. This compares to our first quarter guidance of flat to up 1%, with the difference attributable to the timing of certain expenses between quarters. Timing has a meaningful impact on the expense side of the business and is thus best viewed on an annual basis. As anticipated in our guidance, fuel expense in the period increased from a 13% rise in the price of fuel, net of hedges to $673 per metric ton from $598 in 2012.
As mentioned earlier, the quarter included the first days of a Dry-dock for Pride of America, our U.S. flagged vessel based in Honolulu, that sails exclusive seven-day inter-island itineraries in Hawaii. She is truly a unique ship and her itinerary is one of a kind in the industry. As we do with all of our ships when planning for a Dry-dock, we took a detailed look from top to bottom philadelphia hotel deals and considered philadelphia hotel deals what we could do to enhance our offerings, philadelphia hotel deals enrich the guest experience, and increased return.
During her two-week Dry-dock, we commenced a project which converted the space previously housing an underutilized conference center into 32 state rooms, including 24 luxury suites, and four studio state rooms, allowing more families, and now solo travelers, to experience this unique philadelphia hotel deals product. Completion of this project is expected to be in early September, if not sooner.
Behind the scenes, we undertook an even more ambitious project. As mentioned Pride of America runs seven-day voyages in the Hawaiian Islands, which puts her entire itinerary wholly philadelphia hotel deals within the North American Emission Control philadelphia hotel deals Area or ECA, with ECA's own fuel standards at more stringent levels philadelphia hotel deals than those outside the zone, it was imperative that we look at ways to comply