RENO, Nev. (AP) — RENO, Nev. (AP) — Ormat Technologies Inc. (ORA) on Wednesday reported fourth-quarter profit of $31.4 million.
On a per-share basis, the Reno, Nevada-based company said it had net income of 50 cents. Earnings, adjusted for asset impairment costs and costs related to mergers and acquisitions, were 67 cents per share.
The results matched Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 67 cents per share.
The geothermal company posted revenue of $276 million in the period, which beat Street forecasts. Four analysts surveyed by Zacks expected $257.9 million.
For the year, the company reported profit of $123.9 million, or $2.02 per share. Revenue was reported as $989.5 million.
Ormat Technologies expects full-year revenue in the range of $1.11 billion to $1.16 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ORA at https://www.zacks.com/ap/ORA
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