Fiscal 2012 revenues of $263 million, earnings¹ of $93 million and $238 million in Adjusted EBITDA² each reached new highs in our corporate history.

 

Selected Statements of Operations Data

		For the Fiscal Years Ended June 30,
(Amounts in thousands, except per share data)		2012		2011		2010		2009		2008
Royalty revenue	$	263,054	$	216,469	$	136,565	$	73,771	$	66,297
Adjusted EBITDA 2	$	237,616	$	190,172	$	100,068	$	61,706	$	52,863
Operating income	$	156,888	$	118,925	$	41,035	$	27,292	$	32,982
Net income	$	98,309	$	77,299	$	29,422	$	41,357	$	25,395
Net income attributable to Royal Gold stockholders 4, 5, 6	$	92,476	$	71,395	$	21,492	$	38,348	$	24,043
Net income available to Royal Gold common stockholders	$	92,476	$	71,395	$	21,492	$	38,348	$	19,255
Net income per share available to Royal Gold common stockholders:
Basic	$	1.61	$	1.29	$	0.49	$	1.09	$	0.62
Diluted	$	1.61	$	1.29	$	0.49	$	1.07	$	0.61
Dividends declared per common share 3	$	0.56	$	0.42	$	0.34	$	0.30	$	0.28

 

Selected Balance Sheet Data

		As of June 30,
(Amounts in thousands)		2012		2011		2010		2009		2008
Total assets	$	2,373,045	$	1,902,702	$	1,865,333	$	809,924	$	545,850
Royalty interests in mineral properties, net	$	1,890,988	$	1,690,439	$	1,476,799	$	455,966	$	300,670
Long-term debt, including current portion	$	293,248	$	226,100	$	248,500	$	19,250	$	15,750
Total liabilities	$	509,616	$	415,007	$	431,785	$	49,513	$	51,222
Total Royal Gold stockholders’ equity	$	1,460,162	$	1,460,162	$	1,403,716	$	749,441	$	483,217

 

1. The term “earnings” and “net income” represent net income attributable to Royal Gold shareholders as shown on the Company’s Consolidated Statement of Operations and Comprehensive Income in our Annual Report on Form 10-K.
   
2. The term “Adjusted EBITDA” is a non-GAAP financial measure. Adjusted EBITDA is defined by the Company as net income plus depreciation, depletion and amortization, non-cash charges, income tax expense, interest and other expense, and any impairment of mining assets, less non-controlling interests in operating income of consolidated subsidiaries, interest and other income, and any royalty portfolio restructuring gains or losses. See page 26 for a GAAP reconciliation.
3. Dividends are paid on a calendar year basis and do not correspond with the fiscal year dividend amounts shown in the Selected Financial Data.
4. Net income attributable to Royal Gold shareholders for FY2009 was impacted by two one-time gains related to the Barrick royalty portfolio acquisition and the Benso royalty buy-back by Golden Star. The effect of these gains was $0.62 per basic share after taxes.
5. Net income attributable to Royal Gold shareholders for FY2010 was impacted by pre-tax effects of severance and acquisition costs of $19.4 million, or $0.33 per share, related to the International Royalty Corporation transaction.
6. Net income attributable to Royal Gold shareholders for FY2012 was impacted by a royalty restructuring charge at Relief Canyon resulting in a $0.02 loss per basic share after taxes.