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Franco-Nevada Slips To Loss In Q4 - Quick Facts

Franco-Nevada Corp. (FNV,FNV.TO) reported that its fourth-quarter net loss was $105.4 million or $0.80 per basic share, compared to profit of $17.2 million or $0.15 per basic share in the year ago quarter.

During the fourth quarter, the Company recorded impairment charges of $152.4 million on its Ezulwini and Podolsky streams. Adjusted net income for the latest quarter was $40.8 million or $0.31 per share.

Revenue was $118.5 million for the fourth quarter of 2011 compared with $74.9 million for the fourth quarter of 2010. The increase in revenue for the quarter was mostly attributable to assets acquired in the Gold Wheaton transaction which contributed $32.7 million to the Company's fourth quarter revenue.

The company expects 2012 revenue to be in the range of $430 million to $460 million (before payments under stream agreements), assuming $1,700 gold, $1,700 platinum, $750 palladium and $95 oil and continued steady state of operations.

The company said that it is looking forward to revenue contributions from several additional royalties in early 2013.

by RTTNews Staff Writer

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