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Royal Gold Reports Record Revenue and
Free Cash Flow for Fourth Quarter and Fiscal 2010
· Fiscal 2010 revenue and free cash flow(1) increased 85% and 62%, respectively, year-over-year to record levels
· Fourth quarter revenue and free cash flow(1) increased 83% and 81%, respectively, year-over-year to record levels
· Significant expansion of portfolio in fiscal 2010 including Andacollo, International Royalty, and Pascua-Lama transactions
· Gold reserves(2) increased 22% year-over-year to 78.6 million ounces; silver reserves(2) increased 12% to 1.3 billion ounces year-over-year
· July 2010 agreement with Thompson Creek to acquire 25% gold stream on the Mt. Milligan project(3)
DENVER, COLORADO. AUGUST 12, 2010: ROYAL GOLD, INC. (NASDAQ:RGLD; TSX: RGL) today announced record royalty revenue of $136.6 million for fiscal 2010 (ended June 30), an 85% increase over revenues of $73.8 million in fiscal 2009. Net income available to Royal Gold common stockholders totaled $21.5 million, or $0.49 per basic share, compared with net income available to Royal Gold common stockholders of $38.3 million, or $1.09 per share, in fiscal 2009. Net income available to Royal Gold common stockholders for fiscal 2010 was impacted by pre-tax effects of severance and acquisition costs of approximately $19.4 million, related to the Companys acquisition of International Royalty Corporation (IRC). The after tax effect of these IRC related costs on basic earnings per share was $0.33. Excluding the after tax effect of these items, net income available to Royal Gold common stockholders would have been $35.8 million, or $0.82 per basic share for fiscal 2010. Net income available to Royal Gold common stockholders for fiscal 2009 was impacted by two one-time gains related to the Barrick royalty portfolio acquisition and the Benso royalty buy-back by Golden Star. The effect of these gains was $0.62 per basic share, after taxes. Excluding these gains, fiscal 2009 net income available to Royal Gold common stockholders would have been $16.4 million, or $0.47 per share.
The following information was filed by Royal Gold Inc (RGLD) on Thursday, August 12, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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