EXHIBIT 99.1

 

 

 

Royal Gold Reports a 38% Increase in Fourth Quarter Earnings and Record Annual Revenue

 

DENVER, COLORADO. AUGUST 11, 2016: ROYAL GOLD, INC. (NASDAQ: RGLD)

(together with its subsidiaries, “Royal Gold” or the “Company,” “we” or “our”) reports net income attributable to stockholders (“net income”) of $20.4 million, or $0.32 per share, on revenue of $94.1 million in its fiscal fourth quarter ended June 30, 2016 (“fourth quarter”). Earnings increased 38% compared to the prior year quarter net income of $14.8 million, or $0.23 per share, on revenue of $73.6 million. The average gold price was $1,259 per ounce, up 6% from the prior year quarter.

 

Fourth Fiscal Quarter 2016 Highlights Compared to the Prior Year Quarter:

 

·Volume of 74,700 Gold Equivalent Ounces (“GEOs1”), an increase of 21%
·Revenue of $94.1 million, an increase of 28%
·Reported earnings per share of $0.32, an increase of 38%
·Operating cash flow of $49.2 million, an increase of 12%
·Dividends paid of $15 million, an increase of 5%.

 

Fiscal 2016 Highlights Compared to Fiscal 2015:

 

·Record volume of 308,000 GEOs2, an increase of 36%
·Record revenue of $359.8 million, an increase of 29%
·Record dividends paid of $58.7 million, an increase of 5%

 

For the fiscal year ended June 30, 2016 (“fiscal 2016”), Royal Gold reports record revenue of $359.8 million, a 29% increase over $278.0 million in fiscal 2015. Fiscal 2016 earnings were impacted by impairments reported in the March 2016 quarter and discrete tax expenses reported in the September 2015 quarter resulting in a net loss attributable to stockholders of $77.1 million, or ($1.18) per share, compared to fiscal 2015 net income of $52.0 million, or $0.80 per share. Absent the adjustments for impairments and the discrete tax expenses, fiscal 2016 adjusted net income3 would have been $65.0 million, or $1.00 per share. The average gold price was $1,168 in fiscal 2016, down 5% from fiscal 2015.

 

 

1 GEOs are calculated as revenue divided by the average gold price for the same period. GEOs net of stream payments were 59,600 in the fourth quarter compared to 53,300 in the year-ago quarter.

2 GEOs net of stream payments were 247,300 for fiscal 2016, compared to 199,800 net GEOs in fiscal 2015.

3 Non-GAAP measure. See Schedule A for reconciliation.

 


The following information was filed by Royal Gold Inc (RGLD) on Thursday, August 11, 2016 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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