ORMAT TECHNOLOGIES, INC. ORA Income Statement

Ormat technologies, inc. (ORA)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10	Sep'09	Jun'09
Revenues:
Revenues
-	-	-	-	-	-	-	-	-	166,365	157,185	179,364	189,898	166,519	184,617	159,861	151,594	171,074	162,852	140,487	120,231	149,243	140,242	127,603	142,436	130,905	130,749	152,679	118,906	110,416	132,297	126,708	132,352	112,181	110,841	104,614	97,820	92,833	101,477	96,266	82,654	119,026	99,499
Cost of revenues:
Cost of revenues
110,295	117,940	115,004	118,918	124,859	99,656	117,688	120,837	110,651	102,009	97,992	108,871	115,488	99,882	110,128	94,065	87,721	106,935	103,520	89,704	76,206	94,383	84,767	87,646	88,977	88,001	90,993	102,298	92,129	89,766	102,054	88,383	92,558	82,315	75,078	71,461	82,827	74,736	76,294	77,613	66,960	79,865	71,960
Gross profit
81,818	74,502	55,495	65,147	74,179	90,809	48,792	57,462	73,372	64,356	59,193	70,493	74,410	66,637	74,489	65,796	63,873	64,139	59,332	50,783	44,025	54,860	55,475	39,957	53,459	42,904	39,756	50,381	26,777	20,650	30,243	38,325	39,794	29,866	35,763	33,153	14,993	18,097	25,183	18,653	15,694	39,161	27,539
Operating expenses:
Research and development expenses
1,619	1,875	1,062	810	900	1,118	706	1,251	1,108	789	716	1,050	602	732	1,086	595	349	668	335	414	363	388	250	232	-87	1,519	838	1,608	1,000	2,160	1,436	1,464	1,048	1,673	2,346	2,575	2,207	1,987	1,252	3,614	3,267	3,863	2,487
Selling and marketing expenses
4,794	4,123	3,783	3,276	3,865	3,813	8,578	3,712	3,699	3,517	3,630	4,090	4,363	4,288	4,793	3,668	3,675	3,978	4,383	4,283	3,433	4,572	4,258	3,216	3,379	6,752	2,575	3,777	11,509	2,880	3,346	4,570	4,922	6,728	2,940	3,725	2,660	4,226	3,333	2,686	3,202	3,393	3,215
General and administrative expenses
14,348	14,032	11,931	14,181	15,689	4,429	13,606	15,866	13,849	9,854	10,877	12,201	9,949	10,085	19,093	8,783	8,749	9,185	7,950	7,443	10,204	7,767	7,179	6,072	7,596	8,924	6,546	7,134	6,584	7,863	6,132	6,757	7,314	6,611	6,269	7,479	7,007	7,646	5,780	6,996	7,020	6,437	5,582
Impairment charge
-	0	0	0	-	13,464	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,264	-	-	-	-	-	-	-	-	-	-	-	-
Write-off of unsuccessful exploration activities
-	0	0	0	-	3	0	0	123	1,796	0	0	-	303	1,294	863	557	1,220	185	0	174	-	-	8,107	-	4,094	-	-	-	720	0	1,151	768	-	-	-	-	-	-	3,050	-	2,367	-
Operating income
61,057	54,472	38,719	46,880	53,725	67,982	25,902	36,633	54,593	48,400	43,970	53,152	59,496	51,229	48,223	51,887	50,543	49,088	46,479	38,643	29,851	34,801	43,788	22,330	42,571	21,615	29,797	37,862	7,684	-222,086	12,065	24,383	25,742	14,854	24,208	19,374	3,119	4,238	14,818	2,307	2,205	23,101	16,255
Other income (expense):
Interest income
402	320	482	420	293	458	214	189	113	127	255	362	244	140	266	245	320	191	53	44	9	76	35	90	111	462	742	87	41	197	280	336	388	138	438	716	135	-	140	-	-	157	276
Interest expense, net
17,273	17,568	20,076	21,517	21,223	22,034	18,700	15,846	14,344	12,987	11,692	14,540	14,923	15,828	17,137	18,401	16,023	18,142	17,748	18,859	17,828	19,570	22,494	22,072	20,518	21,950	18,459	17,504	15,863	19,528	15,400	14,263	14,878	15,028	23,909	17,442	13,080	10,372	10,961	9,426	9,714	4,358	4,415
Derivatives and foreign currency transaction gains (losses)
393	-72	205	19	472	-2,250	-383	-529	-1,599	614	-1,001	1,703	1,338	-2,942	-222	-4,332	1,962	-981	1,296	-571	-1,366	-2,200	-2,946	-55	-638	1,241	1,258	904	1,682	1,369	615	-1,756	14	196	-2,659	596	517	1,082	1,074	-1,033	434	25	1,044
Income attributable to sale of tax benefits
4,132	4,415	4,056	4,637	7,764	4,020	4,066	3,556	7,361	3,859	3,506	4,356	6,157	4,123	3,463	4,519	4,398	6,514	8,634	4,731	5,552	5,809	5,487	6,130	6,717	5,603	5,027	5,783	3,532	2,710	2,311	2,589	2,517	3,850	2,344	3,141	2,139	2,337	2,183	2,070	2,139	3,869	4,366
Gain from sale of property, plant and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	7,628	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on acquisition of controlling interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	36,928	-	-	-	-
Gain from extinguishment of liability
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	-
Other non-operating income (expense), net
78	-482	244	1,027	91	117	309	7,373	-20	12	-1,592	6	-92	-39	-5,546	49	191	-468	-131	-1,675	283	107	243	343	63	9	137	29	1,417	250	215	286	-161	206	347	915	-797	177	233	79	-359	246	550
Income from operations before income tax and equity in earnings (losses) of investees
48,789	41,085	23,630	31,466	41,122	48,293	11,408	31,376	46,104	40,025	33,446	45,039	52,220	36,683	29,047	33,967	41,391	36,202	38,583	22,313	16,501	19,023	24,113	14,394	28,306	6,980	18,502	-	-	-237,088	86	11,575	13,622	4,216	769	7,300	-7,967	-2,627	44,415	-5,908	-5,098	23,040	18,076
Income tax (provision) benefit
18,148	25,477	9,626	-3,529	14,039	31,386	1,184	29,105	-26,942	-28,329	6,224	32,765	11,004	7,356	11,988	7,890	9,079	11,438	-38,211	6,056	5,459	9,877	6,444	4,967	6,320	1,476	5,201	5,780	4,047	12,256	-1,088	-3,884	-5,457	48,966	-305	-1,007	586	-7,107	11,931	-3,365	-2,557	2,935	3,868
Equity in earnings (losses) of investees, net
-735	-1,481	1,085	1,202	1,047	6,182	-117	388	1,210	-267	337	-428	-1,599	-3,001	-2,653	-1,144	-937	-616	-3,133	-984	-775	-2,003	-899	-114	-197	-101	-158	9	-	-980	-1,245	-157	-140	-407	-71	-69	-412	56	-83	479	546	591	355
Income from discontinued operations (including gain on disposal of $0, $0 and $3,646, respectively)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	4,480	831	-	2,123	1,613	-	-	-	-	-	0	0	0	14	1,251	1,411
Total income from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	4,117	580	-	1,732	1,188	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of a subsidiary in New Zealand, net of related tax of $2,000
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	570	3,766	-	-
Net income
29,906	14,127	15,089	36,197	28,130	-	-	-	-	68,087	27,559	11,846	39,617	26,326	14,406	24,933	31,375	24,148	73,661	15,273	10,267	7,143	16,770	9,313	21,789	8,355	13,143	25,507	-4,974	-228,839	-515	8,722	8,025	-43,000	1,003	8,238	-8,965	4,536	32,401	-1,494	1,785	21,947	15,974
Net income
-	-	-	-	-	-	-	-	-	-	27,559	11,846	-	-	14,406	24,933	-	-	-	-	-	-	-	-	-	8,355	13,143	21,390	-5,554	-229,466	-2,247	7,534	8,025	-	-	-	-	4,536	32,401	-2,064	-1,995	20,696	14,563
Net income attributable to noncontrolling interest
3,873	1,521	-516	2,259	2,184	4,869	-474	3,002	4,748	-3,467	3,599	3,206	-4,423	-3,002	2,326	584	-1,674	-1,160	-1,522	-859	-235	163	256	177	237	193	193	322	85	136	67	81	130	80	137	105	10	78	-58	-57	-53	-80	-77
Net income attributable to the Company's stockholders
26,033	12,606	15,605	33,938	25,946	18,220	10,581	-343	69,508	64,620	23,960	8,640	35,194	23,324	12,080	24,349	29,701	22,988	72,139	14,414	10,032	6,980	16,514	9,136	21,552	8,162	12,950	25,185	-5,059	-228,975	-582	8,641	7,895	-43,080	866	8,133	-8,975	4,458	32,459	-1,437	1,838	22,027	16,051
Comprehensive income:
Other comprehensive income (loss), net of related taxes:
Change in foreign currency translation adjustments
-645	1,247	-2,191	482	-1,348	-	-	-	-	-	1,005	1,461	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	412	423
Change in unrealized gains or losses in respect of the Company's share in derivatives instruments of unconsolidated investment
-4,755	1,282	-1,467	-2,087	-1,145	-	-	-	-	-	618	-916	-	-	1,337	-1,987	-	-	-	-	-	-	-1,069	-4,088	-	-	-	-	-	-	-	-	-	-53	-53	-53	-53	-	-61	-	-	-65	-65
Change in respect of derivative instruments designated for cash flow hedge
13	17	18	18	22	-	-	-	-	-	20	45	-	-	22	22	-	-	-	-	-	-	-933	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Amortization of unrealized gains in respect of derivative instruments designated for cash flow hedge
8	7	7	9	8	-	-	-	-	-	18	15	-	-	24	24	-	-	-	-	-	34	35	36	36	-	40	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Change in unrealized gains or losses on marketable securities available-for-sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	83	-111	-186	-23	-	-	-	-	5	260
Comprehensive income
24,511	16,666	11,442	34,601	25,651	-	-	-	-	-	29,184	12,421	-	-	15,741	22,944	-	-	-	-	-	4,185	14,733	5,189	21,753	-	13,103	-	-	-	-	-	-	-42,970	839	7,999	-9,041	-	32,340	-	-	22,299	16,592
Comprehensive income attributable to noncontrolling interest
3,486	1,866	-1,051	2,443	1,862	-	-	-	-	-	4,006	3,613	-	-	2,326	584	-	-	-	-	-	163	256	177	237	-	193	-	-	-	-	-	-	80	137	105	10	-	-58	-	-	-80	-77
Comprehensive income attributable to the Company's stockholders
21,025	14,800	12,493	32,158	23,789	-	-	-	-	-	25,178	8,808	-	-	13,415	22,360	-	-	-	-	-	4,022	14,477	5,012	21,516	-	12,910	-	-	-	-	-	-	-43,050	702	7,894	-9,051	-	32,398	-	-	22,379	16,669
Basic:
Income from continuing operations (in Dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.18	0.29	0.46	-0.12	-5.05	-0.05	0.16	0.17	-	-	-	-	-	-	-0.05	-0.04	-	-
Discontinued operations (in Dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.00	0.09	0.01	-	0.04	0.03	-	-	-	-	-	-	-	0.02	0.08	-	-
Net income (in dollars per share)
0.51	0.25	0.31	0.67	0.51	0.36	0.21	-0.01	1.37	1.28	0.48	0.17	0.71	0.47	0.24	0.49	0.60	0.47	1.47	0.29	0.21	-21,788.37	0.36	0.20	21,789.00	0.18	0.29	0.55	-0.11	-5.04	-0.01	0.19	0.17	-	-	-	-	-	-	-0.03	0.04	-	-
Diluted:
Income from continuing operations (in Dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.18	0.28	0.46	-0.12	-5.05	-0.05	0.16	0.17	-	-	-	-	-	-	-0.05	-0.04	-	-
Discontinued operations (in Dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.00	0.09	0.01	-	0.04	0.03	-	-	-	-	-	-	-	0.02	0.08	-	-
Net income (in dollars per share)
0.51	0.24	0.30	0.66	0.51	0.36	0.21	-0.01	1.36	1.27	0.47	0.17	0.70	0.46	0.24	0.49	0.60	0.46	1.41	0.28	0.21	0.15	0.36	0.20	0.47	0.18	0.28	0.55	-0.11	-5.04	-0.01	0.19	0.17	-0.95	0.02	0.18	-0.20	0.10	0.71	-0.03	0.04	0.48	0.35
Earnings per share attributable to the Company's stockholders - basic and diluted
Income from continuing operations (in Dollars per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.71	-	-	0.45	0.32
Discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.03	0.03
Weighted average number of shares used in computation of earnings per share attributable to the Company's stockholders:
Basic (in shares)
51,036	51,017	50,933	50,800	50,709	50,691	50,645	50,623	50,614	50,607	50,367	49,771	49,680	49,647	49,599	49,456	49,173	49,074	49,023	48,881	47,244	45,257	45,690	45,606	45,479	45,461	45,438	45,431	45,431	45,431	45,431	45,431	45,431	45,431	45,431	45,431	45,431	45,431	45,431	45,431	45,431	45,413	45,369
Diluted (in shares)
51,526	51,511	51,334	51,094	51,012	50,936	50,963	50,958	51,051	51,053	50,867	50,624	50,491	50,293	50,289	50,137	49,782	49,668	51,113	50,600	48,079	45,711	46,102	45,963	45,660	45,610	45,494	45,448	45,431	45,418	45,431	45,438	45,437	45,410	45,440	45,443	45,431	45,470	45,450	45,431	45,457	45,564	45,451
Dividend per share declared (in dollars per share)
-	-	-	-	-	-	-	-	-	-	-	0.08	-	-	0.07	0.07	-	-	-	-	-	0.05	0.05	0.05	0.06	-	0.04	-	-	-	-	-	-	0.00	0.04	0.04	0.05	-	0.05	-	-	0.06	0.06
Electricity [Member]
Revenue
142,856	144,368	123,978	129,079	142,908	138,320	116,891	122,179	132,489	128,503	110,876	110,896	115,776	114,628	109,795	104,001	107,868	97,796	97,245	90,926	89,953	93,286	102,506	91,692	94,817	84,742	88,994	87,713	68,298	73,153	77,612	81,882	82,247	66,023	86,815	81,190	78,268	73,551	83,357	68,807	66,105	67,913	59,826
Cost of revenues
71,368	81,393	80,124	73,775	77,543	63,692	79,845	81,236	73,482	75,017	64,444	63,196	66,036	69,163	66,481	62,243	63,686	63,008	61,501	62,522	55,581	60,547	61,727	67,322	57,034	57,789	61,356	58,641	55,088	62,995	59,924	56,565	57,931	49,519	57,941	62,212	65,937	62,775	61,530	63,498	54,523	44,085	44,718
Product [Member]
Revenue
47,411	43,814	43,037	52,030	52,128	49,717	48,439	54,915	48,672	37,862	44,912	67,587	74,122	51,891	74,822	55,860	43,726	73,278	65,607	49,561	30,278	55,957	37,736	35,911	47,619	46,163	41,755	64,966	50,608	37,263	54,685	44,826	50,105	46,158	24,026	23,424	19,552	19,282	18,120	27,459	16,549	51,113	39,673
Cost of revenues
36,978	31,479	31,073	41,316	42,106	33,729	35,669	37,573	33,726	26,992	32,218	43,432	49,452	30,719	43,647	31,822	24,035	43,927	42,019	27,182	20,625	33,836	23,040	20,324	31,943	30,212	29,637	43,657	37,041	26,771	42,130	31,818	34,627	32,796	17,137	9,249	16,890	11,961	14,764	14,115	12,437	35,780	27,242
Energy Storage and Management Services [Member]
Revenue
1,846	4,260	3,484	2,956	4,002	2,428	1,150	1,205	2,862	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of revenues
1,949	5,068	3,807	3,827	5,210	2,235	2,174	2,028	3,443	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other Revenue [Member]
Revenue
-	-	-	-	-	-	-	-	-	-	1,397	881	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Cost of revenues
-	-	-	-	-	-	-	-	-	-	1,330	2,243	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-