Royal Gold, Inc. Elects Jamie C. Sokalsky to Serve as Class I Director, Effective August 20, 2015; Reports Unaudited Consolidated Earnings and Production Results for the Fourth Quarter and Full Year Ended June 30, 2015
August 06, 2015 at 06:02 am EDT
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On August 5, 2015, the Board of Directors of Royal Gold, Inc. elected Jamie C. Sokalsky to serve as a Class I Director of the company, effective August 20, 2015, and pursuant to its authority under the Company's bylaws, increased the size of the Board from seven to eight directors. As a Class I Director, Mr. Sokalsky shall hold office for a term expiring at the company's 2015 annual meeting of stockholders.
The company also reported unaudited consolidated earnings and production results for the fourth quarter and full year ended June 30, 2015. For the quarter, the company reported revenues of $73,539,000 against $70,142,000 a year ago. Operating income was $27,568,000 against $31,452,000 a year ago. Income before income taxes was $21,367,000 against $21,253,000 a year ago. Net income attributable to the company's common stockholders was $14,819,000 or $0.23 per basic and diluted share against $16,636,000 or $0.26 per basic and diluted share a year ago. Net cash provided by operating activities was $43,905,000 against $32,116,000 a year ago. Adjusted EBITDA was $55,154,000 against $57,114,000 a year ago.
For the year, the company reported revenues of $278,019,000 against $237,162,000 a year ago. Operating income was $87,238,000 against $108,720,000 a year ago. Income before income taxes was $62,244,000 against $82,927,000 a year ago. Net income attributable to the company's common stockholders was $51,965,000 or $0.80 per basic and diluted share against $62,641,000 or $0.96 per basic and diluted share a year ago. Net cash provided by operating activities was $192,099,000 against $147,202,000 a year ago. Adjusted EBITDA was $216,532,000 or $3.33 per basic share against $202,070,000 or $3.11 per basic share a year ago. The decrease in the fiscal 2015 earnings per share compared with the prior fiscal year was primarily battriutable to impairment charges of approximately $31.3 million on certain non-principal royalty interests, mostly related to Wolverine, during the quarter ended December 31, 2014.
For the quarter, the company reported production from Andacollo of 10,500 oz. against 10,000 oz. for the same period in the last year. Gold production at Holt was 15,800 oz. against 15,600 oz. for the same period in the last year. Gold production at Mulatos was 35,600 oz. against 33,600 oz. for the same period in the last year. Gold production at Cortez was 43,900 oz. against 40,300 oz. for the same period in the last year. Gold and copper production at Robinson was 11,800 oz. and 26.6 Mlbs. respectively against gold and copper production at Robinson of 5,800 oz. and 19.1 Mlbs. respectively for the same period in the last year. Nickel and copper production at Voisey's Bay was 9.08 Mlbs. and 20.8 Mlbs. respectively against nickel and copper production of 26.9 Mlbs. and 9.7 Mlbs. respectively for the same period in the last year.
For the year, the company reported production from Andacollo of 76,900 oz. against 21,100 oz. for the same period in the last year. Gold production at Holt was 61,500 oz. against 63,100 oz. for the same period in the last year. Gold production at Mulatos was 140,900 oz. against 149,800 oz. for the same period in the last year. Gold production at Cortez was 229,000 oz. against 95,400 oz. for the same period in the last year. Gold and copper production at Robinson was 34,300 oz. and 101.1 Mlbs. respectively against gold and copper production at Robinson of 27,600 oz. and 69.6 Mlbs. respectively for the same period in the last year. Nickel and copper production at Voisey's Bay was 62.8 Mlbs. and 64.8 Mlbs. respectively against nickel and copper production of 123.7 Mlbs. and 80.5 Mlbs. respectively for the same period in the last year.
Royal Gold, Inc. is a precious metals stream and royalty company engaged in the acquisition and management of precious metal streams, royalties and similar production-based interests. The Company's segments include Acquisition and Management of Stream Interests, and Acquisition and Management of Royalty Interests. The Acquisition and Management of Stream Interests segment includes a metal stream, which is a purchase agreement that provides the right to purchase all or a portion of one or more metals produced from a mine, at a price determined for the life of the transaction by the purchase agreement. The Acquisition and Management of Royalty Interests segment includes non-operating interests in mining projects that provide the right to revenue or metals produced from the project after deducting specified costs, if any. The Company owns interests on approximately 178 properties on five continents, including interests on 37 producing mines and 22 development stage projects.
Royal Gold, Inc. Elects Jamie C. Sokalsky to Serve as Class I Director, Effective August 20, 2015; Reports Unaudited Consolidated Earnings and Production Results for the Fourth Quarter and Full Year Ended June 30, 2015