Ormat dividend is eight cents; guidance solid

Ormat Technologies, Inc., a Reno-based geothermal power company, has declared a quarterly dividend of eight cents per share.

The firm announced that dividend this week, along with fourth quarter 2014 and full year results for last year in a release studded with upbeat figures.

Total revenues for the year were recorded at $559.5 million, and increase of 4.9 percent from the 2013 level.

Revenues for the final quarter of 2014 amounted to $149.8 million, up from $130.9 million in the same quarter the previous year.

The firm, listed on the New York Stock Exchange as the symbol ORA, said gross margins in 20145 increased to more than 36 percent, compared with 30 percent the previous year, while net income attributable to shareholders increased more than 31 percent year over year.

Going forward, according to Isaac Angel, Ormat chief executive officer, guidance numbers appear solid.

“We expect our 2015 electricity revenues to be between $380 million and $390 million,” he said, “and our product segment revenues to be between $180 million and $190 million.”


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