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RENO, Nev. (AP) — RENO, Nev. (AP) — Ormat Technologies Inc. (ORA) on Wednesday reported fourth-quarter profit of $18 million.
On a per-share basis, the Reno, Nevada-based company said it had net income of 32 cents. Earnings, adjusted for non-recurring costs, came to 73 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The geothermal company posted revenue of $205.5 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $197.8 million.
For the year, the company reported profit of $65.8 million, or $1.17 per share. Revenue was reported as $734.2 million.
Ormat Technologies expects full-year revenue in the range of $823 million to $858 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a ORA">Zacks stock report on ORA at https://www.zacks.com/ap/ORA