RENO, Nev. (AP) — RENO, Nev. (AP) — Ormat Technologies Inc. (ORA) on Wednesday reported fourth-quarter net income of $35.7 million.
The Reno, Nevada-based company said it had net income of 59 cents per share. Earnings, adjusted for non-recurring costs, were 67 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.
The geothermal company posted revenue of $241.3 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $239.5 million.
For the year, the company reported profit of $124.4 million, or $2.08 per share. Revenue was reported as $829.4 million.
Ormat Technologies expects full-year revenue in the range of $860 million to $910 million.
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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
