Exhibit 99.1

 

 

 

 

Royal Gold Reports Revenue of $237 Million for Fiscal 2014 Including Growing Contribution from Mt. Milligan

 

 

DENVER, COLORADO. AUGUST 7, 2014: ROYAL GOLD, INC.

(NASDAQ:RGLD; TSX: RGL) (together with its subsidiaries, “Royal Gold” or the “Company”) is reporting net income attributable to Royal Gold stockholders (“net income”) of $62.6 million, or $0.96 per basic share, on annual revenue of $237.2 million in fiscal 2014 (ended June 30), compared with net income of $69.2 million, or $1.09 per share, on revenue of $289.2 million in fiscal 2013. The average gold price in fiscal 2014 was $1,296 per ounce, down 19% from $1,605 per ounce in fiscal 2013.

 

Fiscal 2014 Highlights:

 

·Three consecutive quarters of growing contribution from Mt. Milligan, totaling $27.2 million in revenue;
·Reported net income of $0.96 per share, down 12% from a year ago despite a 19% decline in gold price;
·Adjusted EBITDA[1] of $3.11 per basic share, or 85% of revenue; and
·Cash dividends of $53.4 million, representing a payout ratio of 36% of operating cash flow, in our 13th straight year of increasing dividends.

 

Fourth Fiscal Quarter 2014 Highlights Compared with the Prior Year Quarter:

 

·Net income of $0.26 per basic share, up 63%;
·Revenue of $70.1 million, up 22%;
·Gold Equivalent Ounces (“GEOs”)[2] of 54,442, up 34%; and
·New production at Mt. Milligan and higher production at Peñasquito, Cortez and Canadian Malartic.

 

Tony Jensen, President and CEO, commented, “In fiscal 2014 we successfully delivered strong financial performance despite a significantly lower gold price. This performance reflects our new phase of growth, as Mt. Milligan’s revenue contribution in fiscal 2014 increased in each successive quarter of its production. Over the last year we’ve continued to invest, giving our shareholders exposure to properties with excellent development potential, including Rubicon Minerals’ Phoenix Project and Barrick’s Goldrush Project, while also expanding our interests at Cortez. We returned over one third of our operating cash flow to our shareholders this year, and we still have over $1 billion of liquidity to invest in new opportunities.”

 

 

1The Company defines Adjusted EBITDA, a non-GAAP financial measure, as net income plus depreciation, depletion and amortization, non-cash charges, income tax expense, interest and other expense, and any impairment of mining assets, less non-controlling interests in operating income of consolidated subsidiaries, interest and other income, and any royalty portfolio restructuring gains or losses (see Schedule A).
2The Company defines Gold Equivalent Ounces as revenue divided by the average gold price for the same period.

 


The following information was filed by Royal Gold Inc (RGLD) on Thursday, August 7, 2014 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.

View differences made from one year to another to evaluate Royal Gold Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Royal Gold Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

FREE Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue for FREE

Log in with your credentials

or    

Forgot your details?

Create Account