Royal Gold, Inc. (TSE:RGL) (Nasdaq:RGLD) generated record royalty revenue in its fiscal third quarter of 2010 of $35 million. That compares with $20.8 million for the same quarter last year.
For the last three quarters ending March 31, royalty revenue stands at $95.9 million, with net income coming in at $11.0 million. Last year during that nine-month period royalty revenue was $51.5 million, with net income of $31.3 million.
The price of gold during the quarter increased to $1,109 an ounce average, a 15.5 percent rise. Last year the gold price during the same quarter was $960 an ounce.
Even with the record royalty revenue, Royal Gold fell below analysts' expectations for the quarter, with earnings of 20 cents a share, while the street was looking for 25 cents a share.
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