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Royal Gold Announces Record Fiscal 2007 Financial Results
Royal Gold Announces Record Fiscal 2007 Financial Results.
About this update from Red Lake Gold Inc
[{"type":"text","content":"\n\n\n\n- Revenue and free cash flow* increase 70% and 85%, respectively,\nyear-over-year\n\n- Earnings per share up 58% year-over-year\n\n- Fiscal 2007 free cash flow* totaled 78% of revenue\n\n- Production commences at the Taparko mine\n\n- Significant reserve expansion at the Penasquito property\n\n\nDENVER, Aug. 16 /CNW/ -- Royal Gold, Inc. (Nasdaq: RGLD; TSX: RGL), the\nleading publicly-traded precious metals royalty company, today announced\nrecord revenues of $48.4 million for fiscal 2007 (ended June 30), a 70%\nincrease over revenues of $28.4 million in fiscal 2006. The Company reported\nnet income of $19.7 million, or $0.79 per basic share, for fiscal 2007\ncompared to net income of $11.4 million, or $0.50 per basic share, for fiscal\n2006. Free cash flow for fiscal 2007 was approximately $37.9 million, or 78%\nof revenues, compared to $20.5 million or 72% of revenues, in fiscal 2006.\n\n\nFor the fourth quarter ended June 30, 2007, royalty revenue reached a\nrecord high of $14.4 million, or a 76% increase over royalty revenue of $8.2\nmillion for the same period in fiscal 2006. The Company reported fourth\nquarter 2007 net income of $5.7 million, or $0.20 per basic share, as compared\nto net income of $3.6 million, or $0.15 per basic share for the fourth quarter\nof fiscal 2006. Free cash flow for the fourth quarter was approximately $11.3\nmillion, or 78% of revenue compared with free cash flow of $6.5 million, or\n79% of revenues, for the same period ended June 30, 2006.\n\n\nAs of June 30, 2007, the Company had working capital of $91.0 million.\nCurrent assets were $95.7 million, compared to current liabilities of $4.7\nmillion, yielding a current ratio of 20 to 1.\n\n\nTony Jensen, President and Chief Executive Officer, commented, "The\nrecord-setting results we achieved in fiscal 2007 reflect the execution of our\ngrowth and diversification plan over the past eighteen months, supported by\ncontinued strength in commodity prices." Jensen continued, "During the year\nwe completed the largest royalty acquisition in the history of the Company,\nthe Penasquito project, along with several other important royalty\ntransactions. Our portfolio now includes nine producing royalty properties\nand a strong pipeline of development stage projects scheduled to commence\nproduction within the next year. We also ann...