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RENO, Nev. (AP) — RENO, Nev. (AP) — Ormat Technologies Inc. (ORA) on Wednesday reported fourth-quarter net income of $40.8 million.
On a per-share basis, the Reno, Nevada-based company said it had profit of 67 cents. Earnings, adjusted for non-recurring costs, came to 72 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The geothermal company posted revenue of $230.7 million in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $233.7 million.
For the year, the company reported profit of $123.7 million, or $2.04 per share. Revenue was reported as $879.7 million.
Ormat Technologies expects full-year revenue in the range of $935 million to $975 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