Business
Franco-Nevada Reports Record Quarterly Gold Revenue and Declares Dividend
Franco-Nevada Reports Record Quarterly Gold Revenue and Declares Dividend
About this update from Daura Gold Corp.
[{"type":"text","content":"\n\n\n\nNov. 9, 2009 (Canada NewsWire Group) -- TORONTO, Nov. 9 /CNW/ -- Franco-Nevada Corporation (TSX: FNV) today reported its financial results for the three and nine months ended September 30, 2009. All figures are in US dollars unless otherwise noted. The complete Financial Statements and Management's Discussion and Analysis can be found today on Franco-Nevada's website at www.franco-nevada.com and by tomorrow on www.sedar.com.Selected Quarterly Financial Information:(Thousands of US dollars, except per share amounts)Q3 Q2 Q32009 2009 2008-------------------------------------------------------------------------Royalty Revenue(1) $ 36,409 $ 32,887 $ 39,937Total revenue(2) $ 41,090 $ 45,079 $ 40,023Net income $ 12,343 $ 25,089 $ 9,893Basic earnings (loss) per share $ 0.11 $ 0.25 $ 0.10-------------------------------------------------------------------------Free cash flow(3) $ 32,479 $ 27,919 $ 35,352Free cash flow(3)per share $ 0.29 $ 0.27 $ 0.35Adjusted Net Income(4) $ 7,342 $ 1,498 $ 9,959Adjusted Net Income per share(4) $ 0.07 $ 0.01 $ 0.10-------------------------------------------------------------------------Working Capital $ 559,015 $ 512,940 $ 334,444Total assets $ 1,938,690 $ 1,877,235 $ 1,571,200Total shareholders' equity $ 1,860,715 $ 1,790,068 $ 1,513,503-------------------------------------------------------------------------(1) Royalty Revenue is defined by the Company as cash received orreceivable from operating royalty assets earned during the period.(2) Includes changes in fair value of derivative assets.(3) Free Cash Flow is defined by the Company as operating incomeexcluding any changes in fair value of derivative assets, plusdepletion and depreciation, non-cash charges and any impairment ofinvestments and royalty interests.(4) Adjusted Net Income is defined by the Company as net income excludingimpairment charges related to royalties, working interests andinvestments; fair value changes for royalties accounted for asderivative assets; foreign currency gains; and the impact of taxes onall these items.RevenuesKey aspects of the Company's revenue for the quarter are as follows:- Royalty Revenue was $36.4 million in the third quarter of 2009, anincrease of 11% from $32.9 million in the second quarter of 2009 anda decrease of 9% from $39.9 million in the third quarter of 2008.- Q3 2009 vs. Q2 2009: The increase...