Business
Franco-Nevada Finishes 2009 With Record Quarterly Results
Franco-Nevada Finishes 2009 With Record Quarterly Results
About this update from Franco-nevada Corporation
[{"type":"text","content":"\n\n\n\nTORONTO, Mar. 25, 2010 (Canada NewsWire Group) -- /CNW/ -- Franco-Nevada Corporation (TSX: FNV) today reported its financial results for the three months and year ended December 31, 2009. The complete Financial Statements, Management's Discussion and Analysis and Annual Information Form (\"AIF\") which includes the statement of reserves data and other oil and gas information as required under National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities, can be found today on Franco-Nevada's website at www.franco-nevada.com and by tomorrow on www.sedar.com.Selected Quarterly and Annual Financial Information:(Thousands of US dollars, except per share amounts)Q4 Q4 Full Year Full Year2009 2008 2009 2008-------------------------------------------------------------------------Royalty Revenue(1) $ 44,291 $ 42,303 $ 142,804 $ 150,592Total Revenue(4) 80,443 42,483 199,728 151,041Net Income 39,650 15,377 80,879 40,347Basic Earnings perShare $ 0.36 $ 0.15 $ 0.76 $ 0.41-------------------------------------------------------------------------Free Cash Flow(2) $ 39,024 $ 37,664 $ 124,308 $ 131,723Free Cash Flow(2)per share 0.35 0.38 1.16 1.34Adjusted Net Income(3) 22,828 23,071 31,984 47,268Adjusted Net Incomeper share(3) $ 0.20 $ 0.23 $ 0.30 $ 0.48-------------------------------------------------------------------------Working Capital $ 530,700 $ 239,055Total Assets 2,020,891 1,503,786Total Shareholders'Equity $ 1,930,268 $ 1,433,599-------------------------------------------------------------------------(1) Royalty Revenue is defined by the Company as cash received orreceivable from operating royalty assets earned during the period.(2) 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.(3) 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.(4) Includes changes in fair value of derivative assetsRevenuesKey aspects of the Company's revenue for the fourth quarter and fiscal year are as follows:- Royalty Revenue was $44.3 millio...