Fiscal 2011 net income, revenue and free cash flow1 increased 232%, 59%, and 90%, respectively, year-over-year to record levels
Fourth quarter net income, revenue and free cash flow1 increased 106%, 46%, and 47%, respectively, year-over-year to record levels
Entered into an option agreement with Seabridge Gold to acquire a royalty on the Kerr-Sulphurets-Mitchell project in Canada
DENVER, COLORADO. AUGUST 11, 2011: ROYAL GOLD, INC. (NASDAQ:RGLD; TSX: RGL) today announced record net income attributable to Royal Gold stockholders of $71.4 million, or $1.29 per basic share, on record royalty revenue of $216.5 million for fiscal 2011 (ended June 30). This compares to net income attributable to Royal Gold stockholders for fiscal 2010 of $21.5 million, or $0.49 per basic share, on royalty revenue of $136.6 million. Net income available to Royal Gold stockholders for fiscal 2010 was impacted by pre-tax effects of severance and acquisition costs of approximately $19.4 million, related to the Company’s acquisition of International Royalty Corporation (“IRC”). Excluding the after tax effect of these items, net income available to Royal Gold stockholders would have been $35.8 million, or $0.82 per basic share for fiscal 2010.
For the fourth quarter ended June 30, 2011, net income attributable to Royal Gold stockholders was $21.7 million, or $0.39 per basic share, on record royalty revenue of $59.3 million. This compares to net income attributable to Royal Gold stockholders of $10.5 million, or $0.21 per basic share, on royalty revenue of $40.7 million for the quarter ended June 30, 2010.
Free cash flow1 for fiscal 2011 was $190.2 million ($3.45 per basic share), representing 88% of revenue. This compares to free cash flow for fiscal 2010 of $100.1 million ($2.29 per basic share), or 73% of revenue. Free cash flow as a percentage of revenue for fiscal 2010 was negatively impacted due to $19.4 million of costs relating to the acquisition of IRC. Before IRC related costs, free cash flow for fiscal 2010 was 87% of revenue.
The following information was filed by Royal Gold Inc (RGLD) on Thursday, August 11, 2011 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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Form Type: 10-K Annual Report Accession Number: 0001047469-11-007500 Submitted to the SEC: Thu Aug 18 2011 2:06:24 PM EST Accepted by the SEC: Thu Aug 18 2011 Period: Thursday, June 30, 2011 Industry: Mineral Royalty Traders