Exhibit 99.1

 

 

Royal Gold Reports Record Annual Revenue, Cash Flow and Volume

 

DENVER, COLORADO.  AUGUST 8, 2018: ROYAL GOLD, INC. (NASDAQ: RGLD)

(together with its subsidiaries, “Royal Gold” or the “Company,” “we” or “our”) reports a fiscal year 2018 net loss of $113.1 million, or ($1.73) per basic share, on record revenue of $459.0 million and record operating cash flow of $328.8 million. Reported earnings included the negative impact of US tax reform legislation totaling $0.47 per share and several non-cash items (including a non-cash impairment of $239.1 million relating to the Pascua-Lama project) totaling $3.03 per share. Absent these items, adjusted net income(1) was $115.1 million, or $1.76 per share, up 14% from the prior year.

 

Fiscal 2018 Highlights Compared to Fiscal 2017:

 

·                  Record revenue of $459.0 million, an increase of 4%

·                  Record operating cash flow of $328.8 million, an increase of 23%

·                  Record volume of 354,000 GEO’s(2), an increase of 1%

·                  Final $250.0 million outstanding on revolving credit facility paid off

·                  Dividends paid of $64.1 million, an increase of 4%

·                  Average gold price of $1,297 per ounce, in line with the prior year

 

The Company reports net income of $26.7 million, or $0.41 per share, on revenue of $116.2 million in its fiscal fourth quarter ended June 30, 2018 (“fourth quarter”).  Reported earnings included further impacts of US tax reform legislation totaling $0.01 per share and a non-cash functional currency election totaling $0.01 per share. Absent these items, adjusted net income(1) was $27.6 million, or $0.43 per share, up 39% from the prior year quarter.

 

Fourth Quarter Highlights Compared to Prior Year Quarter:

 

·                  Revenue of $116.2 million, an increase of 7%

·                  Operating cash flow of $77.0 million, an increase of 17%

·                  Volume of 89,000 GEOs,(2) an increase of 3%

·                  Dividends paid of $16.4 million, an increase of 4%

·                  Repaid remaining $75.0 million outstanding under revolving credit facility

·                  Average gold price of $1,306 per ounce, up 4%

 


The following information was filed by Royal Gold Inc (RGLD) on Thursday, August 9, 2018 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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