ORMAT TECHNOLOGIES, INC. ORA Income Statement

Ormat technologies, inc. (ORA)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09	Dec'08
Revenues:
Revenues
-	-	-	662,591	594,644	559,524	533,239	501,773	425,456	373,230	412,010	343,950
Cost of revenues:
Cost of revenues
476,721	448,832	424,360	391,796	376,365	355,773	373,421	372,761	311,681	295,603	291,551	242,052
Gross profit
269,323	270,435	268,452	270,795	218,279	203,751	159,818	129,012	113,775	77,627	120,459	101,898
Operating expenses:
Research and development expenses
4,647	4,183	3,157	2,762	1,780	783	4,965	6,108	8,801	10,120	10,502	4,595
Selling and marketing expenses
15,047	19,802	15,600	16,424	16,077	15,425	24,613	15,718	16,053	13,447	14,584	10,885
General and administrative expenses
55,833	47,750	42,881	46,710	34,782	28,614	29,188	28,066	27,366	27,442	26,412	25,938
Impairment charge
0	13,464	0	-	-	-	-	236,377	-	-	-	-
Write-off of unsuccessful exploration activities
0	100	1,800	3,017	1,579	15,439	4,094	2,639	-	3,050	2,367	9,828
Operating income
193,796	185,110	205,018	201,882	164,061	143,490	96,958	-159,896	61,555	23,568	66,594	50,652
Other income (expense):
Interest income
1,515	974	988	971	297	312	1,332	1,201	1,427	343	639	3,118
Interest expense, net
80,384	70,924	54,142	67,389	72,577	84,654	73,776	64,069	69,459	40,473	16,241	14,945
Derivatives and foreign currency transaction gains (losses)
624	-4,761	2,654	-5,534	-1,622	-5,839	5,085	242	-1,350	1,557	-1,695	-4,421
Income attributable to sale of tax benefits
20,872	19,003	17,878	16,503	25,431	24,143	19,945	10,127	11,474	8,729	15,515	18,118
Gain from sale of property, plant and equipment
-	-	-	-	-	7,628	-	-	-	-	-	-
Gain on acquisition of controlling interest
-	-	-	-	-	-	-	-	-	36,928	-	-
Gain from extinguishment of liability
-	-	-	-	-	-	-	-	-	-	13,348	-
Impairment of auction rate securities
-	-	-	-	-	-	-	-	-	-	-	4,195
Other non-operating income (expense), net
880	7,779	-1,666	-5,345	-1,991	756	1,592	590	671	130	200	771
Income from operations before income tax and equity in earnings (losses) of investees
137,303	137,181	170,730	141,088	113,599	85,836	51,136	-211,805	4,318	30,782	78,360	49,098
Income tax (provision) benefit
45,613	34,733	21,664	37,059	-15,258	27,608	13,552	1,827	48,240	-1,098	15,430	5,310
Equity in earnings (losses) of investees, net
1,853	7,663	-1,957	-7,735	-5,508	-3,213	-250	-2,522	-959	998	2,136	1,725
Income from discontinued operations (including gain on disposal of $0, $0 and $3,646, respectively)
-	-	-	-	-	-	5,311	4,811	2,452	14	3,487	-2,221
Total income from discontinued operations
-	-	-	-	-	-	4,697	3,547	2,157	-	-	-
Gain on sale of a subsidiary in New Zealand, net of related tax of $2,000
-	-	-	-	-	-	-	-	-	4,336	-	-
Net income
93,543	110,111	147,109	96,294	123,349	55,015	42,031	-212,607	-42,724	37,228	68,553	43,292
Net income
-	-	-	96,294	123,349	55,015	37,334	-216,154	-44,881	32,878	65,066	45,513
Net income attributable to noncontrolling interest
5,448	12,145	14,695	7,586	3,776	833	793	414	332	-90	-298	-316
Net income attributable to the Company's stockholders
88,095	97,966	132,414	88,708	119,573	54,182	41,238	-213,021	-43,056	37,318	68,851	43,608
Comprehensive income:
Other comprehensive income (loss), net of related taxes:
Change in foreign currency translation adjustments
-1,810	-1,831	3,440	-1,648	-	0	-	-	-	43	842	-885
Change in unrealized gains or losses in respect of the Company's share in derivatives instruments of unconsolidated investment
-3,417	2,235	804	1,185	1,028	-8,112	-	-	-212	-234	-254	-293
Change in respect of derivative instruments designated for cash flow hedge
75	81	135	141	91	-902	-	-	-	-	-	-
Amortization of unrealized gains in respect of derivative instruments designated for cash flow hedge
31	57	73	96	118	141	164	190	-	-	-	-
Change in unrealized gains or losses on marketable securities available-for-sale
-	-	-	-	-	-	-	246	-237	-80	594	435
Comprehensive income
88,360	110,539	151,415	95,876	124,350	45,860	41,867	-212,551	-43,173	36,957	69,735	42,549
Comprehensive income attributable to noncontrolling interest
5,120	11,666	15,532	7,179	3,776	833	793	414	332	-90	-298	-316
Comprehensive income attributable to the Company's stockholders
83,240	98,873	135,883	88,697	120,574	45,027	41,074	-212,965	-43,505	37,047	70,033	42,865
Basic:
Income from continuing operations (in Dollars per share)
-	-	-	-	-	-	0.81	-4.77	-1.00	0.72	1.44	1.04
Discontinued operations (in Dollars per share)
-	-	-	-	-	-	0.10	0.08	0.05	0.10	0.08	-0.05
Net income (in dollars per share)
1.73	1.93	2.64	1.79	2.46	1.19	0.91	-4.69	-0.95	0.82	1.52	0.99
Diluted:
Income from continuing operations (in Dollars per share)
-	-	-	-	-	-	0.81	-4.77	-1.00	0.71	1.43	1.03
Discontinued operations (in Dollars per share)
-	-	-	-	-	-	0.10	0.08	0.05	0.10	0.08	-0.05
Net income (in dollars per share)
1.72	1.92	2.61	1.77	2.43	1.18	0.91	-4.69	-0.95	0.82	1.51	0.98
Weighted average number of shares used in computation of earnings per share attributable to the Company's stockholders:
Basic (in shares)
50,867	50,643	50,110	49,469	48,562	45,508	45,440	45,431	45,431	45,431	45,391	44,182
Diluted (in shares)
51,227	50,969	50,769	50,140	49,187	45,859	45,475	45,431	45,431	45,452	45,533	44,298
Dividend per share declared (in dollars per share)
-	-	-	-	0.26	0.21	0.08	0.08	0.13	0.27	0.25	0.20
Electricity [Member]
Revenue
540,333	509,879	465,593	436,292	375,920	382,301	329,747	314,894	312,296	291,820	252,621	251,373
Cost of revenues
312,835	298,255	266,840	261,573	242,612	246,630	232,874	237,415	235,609	242,326	179,101	169,297
Product [Member]
Revenue
191,009	201,743	224,483	226,299	218,724	177,223	203,492	186,879	113,160	81,410	159,389	92,577
Cost of revenues
145,974	140,697	152,094	130,223	133,753	109,143	140,547	135,346	76,072	53,277	112,450	72,755
Energy Storage and Management Services [Member]
Revenue
14,702	7,645	2,736	-	-	-	-	-	-	-	-	-
Cost of revenues
17,912	9,880	5,426	-	-	-	-	-	-	-	-	-