Ormat releases third quarter financial results
Ormat Technologies, headquartered in Reno, reported total revenues of $157.2 million in the third quarter of 2017, down 14.9 percent from the same period in 2016.
The company also reported an operating income of $44 million, compared to $48.2 million in the third quarter 2016.
Ormat’s operating income of attributable to the company’s shareholders was $19.2 million in the third quarter of 2017, compared to $12.1 million in the third quarter of 2016.
Adjusted Net income attributable to the Company’s stockholders and diluted EPS for the third quarter of 2017 excludes $1.9 million or $0.04 per diluted share, attributable to a one-time make whole premium paid in connection with the prepayment of OFC senior secured notes and DEG loan. Adjusted Net income attributable to the Company’s stockholders and diluted EPS for the third quarter of 2016 excludes $16 million or 32 cents per diluted share, related to $11 million of expenses related to the settlement of a previously outstanding claim and $5 million in one-time prepayment fees.
The introductory 80-hour program — announced in May as one solution to Nevada’s oft-lamented skilled labor shortages — is designed to train people in construction, building maintenance and related trades.